Contrary to all beliefs, field service management is an industry that can and will change the most among many others. Adapting to changes will be the new nominator of business success. People who fail to comply will inevitably be left behind.
To avoid this tragedy, businesses must constantly seek new ways of doing things. People change, and so do customers and businesses. Everyone is looking for a more diverse and personal way of handling things and businesses.
So, how do you keep up? Through research and tracking. Let’s help you with both!
Field Service Management Statistics in 2024
With automated FSM, you can achieve greater success, says World Metrics, highlighting a 15-20% reduction in travel time just with automated scheduling. Repair time, which is essential for fields, was also 30% reduced with the introduction of FSM to businesses.
On average, a well-implemented FSM system can decrease the average cost of service delivery by 18%.
With these successes under its belt, field service management has shown promising growth over the course of four years. According to Markets and Markets, 12.8% growth is expected.
This dynamic growth is due to AI, ML, and IoT entering the industry. Intelligent schedules, automated forms, AI-powered cameras, predictive maintenance, and remote diagnostics help businesses in various ways and allow them to focus on other important projects now that they have more time.
Business demands on how to use FSM software vary greatly. The majority, 23.6%, use it for customer management, while 21% use it for scheduling, dispatch, and route optimization. Work order, inventory, and service contract management follow as third, fourth, and fifth. As one can see, customer service and quick schedules that help with small tasks are the new focus for businesses. Let’s look at some new focus areas and trends FSM will face in 2024.
2024 Trends for Field Service Management: A Change for Better
FSM is expected to grow quite well, as seen above. Even though the big investments and new technology show a promising future ahead, the Allied Market Research report says that many businesses face being left behind because adapting to new trends is too much to handle. New tech ends up being left on the shelves until the business thinks it's ready.
This is good news to some and bad news to others. The good news is that even if you are new to FSM, you can get ahead by following the current wave. Adapting and integrating new ways of doing things will get you a couple of steps ahead.
Cloud For All: FSM Anywhere, Anytime Approach
Cloud technology is now the go-to for any service provider since businesses increasingly adopt remote operations. The cloud offers a versatile and scalable solution that meets the demands of modern service delivery.
“The global cloud field service management market size is expected to grow at a CAGR 17.2% during the forecast period of 2021 to 2028.”
Cloud-based FSM systems enable technicians and managers to access vital information from any location using any device with internet connectivity. This ensures that field service teams can operate efficiently, regardless of their physical location.
Cloud services can easily scale up or down based on the business’s needs. Whether expanding your team or entering a slow season, the cloud adjusts to accommodate changes without requiring significant infrastructure investment.
This anywhere-and-anytime approach is generally for your businesses, but it's more for the customers. Since the FSM industry is leaning more towards bettering customer experience and trust in loyalty over revenue, which will ultimately give them more revenue, customers and their feedback are top priorities. If you can't provide answers on time, may the business gods help you!
Mobile Apps Increase Mobility
Being on mobile goes hand in hand with the cloud. You adapt cloud services to access valuable documents and ensure workflow goes as smoothly as possible; mobility is almost the same thing! Companion mobile apps enhance the capabilities of FSM software, providing field technicians with essential tools and information at their fingertips.
With company private or public customer-based mobile access, you can receive up-to-date instructions, reminders and notifications. People in charge of that specific instruction can be notified immediately, and you can monitor and track their progress, allowing you to be in the loop and not miss anything. This offers a wide range of benefits for businesses, such as;
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Quick access to customer and equipment details.
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Utilization of forms and checklists with ease.
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Connecting with remote experts to resolve complex issues.
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Collaborating effectively with experts and other stakeholders.
Businesses can improve speed and efficiency in field service operations, stay ahead of competitors with excellent customer service, and handle a high volume of service requests by efficiently staying on top of the issue and assigning an expert correctly.
If there is any change, everyone is in the loop and updated, and they are knowledgeable about what is being done and what is to come!
À La Carte Menu for Customers
Self-service for FSM customers is the new trend in 2024, one the majority did not see coming! Companies have many problems that can be solved simply; that is why FAQ questions exist. However, sometimes those questions need immediate answers at 3 pm, and not answering immediately might hurt your credibility. They also want to choose how they do things, they don't want one size fits all, same templates and features they find unnecessary.
Self-service portals are the ideal approach since the first point of contact does not have to be a time-consuming customer experience situation. Field service automation allows companies to have that privilege. They can make service requests, solve basic issues themselves, run them by your organisation later, raise a complaint ticket, and get status updates.
Self-service portals improve customer satisfaction, reduce support workload, and provide accessible help, enhancing operational efficiency and customer relationships.
Final Words
Field service management (FSM) is poised for significant transformation among many industries. Embracing changes that will keep coming can be a key determinant of business success, while those who resist will inevitably fall behind.
To avoid this, businesses must continuously innovate. As customer expectations and business landscapes evolve, the demand for diverse and personalized solutions grows.
So, how do you stay ahead? Through diligent research and continuous tracking. Let’s help you with both, contact Lena today to start your digital growth!
