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Give The Green Light: Build Your Business Case for Field Service Technology
The document outlines the importance of creating a strong business case for adopting field service technology, emphasizing how it can transform field service into a profit center. Key strategies include identifying corporate objectives, gathering benchmark data, and demonstrating the potential ROI through measurable metrics. ServiceMax is presented as a solution that can increase service revenue, enhance customer satisfaction, and streamline operations.
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Give The Green Light: Build Your Business Case for Field Service Technology
- 1. Give the Green-light: BuildYour Business Case for Field Service Technology Vidya Chadaga, Director of Product Marketing Mar 20th 2013
- 2. Red light again? It’snot you… It’s the business case! Everything’s lined up – timeline, budget, people, resources
- 3. Agenda Field Servicelandscape Top tips to build your case ServiceMax ROI Calculator High returns with ServiceMax
- 4. The Field ServiceLandscape Field Service is mission critical It’s about solving real customer problems, reviving back the equipment, meeting SLAs Field Service is undergoing a massive transformation It’s the right time to embrace proven technology (mobile, social, cloud) Field Service is now a profit center It’s about booking service revenues and being the trusted advisor who recommends new products/services to customers Field Service is not black & white It’s a fine balance of making money and keeping customers happy
- 5. Top Tips forBuilding a Case 3 Get benchmark data 2 Measure and then measure some more 1 Identify a key corporate objective 5 Prove the impact on the top line 4 Think big picture, small picture
- 6. Identify a high-levelobjective that can’t be successful without this project Sales growth (new and after-sales) Achieve/improve service margins Increase Net Promoter Score (NPS) Improve customer retention and satisfaction Meet and track contractual commitments Make this executive your biggest advocate! 1 Identify a key corporate objective
- 7. What are thingslike today? How many techs? How many calls per day? What’s your current and target service revenue? What’s the value of your spare parts inventory? How much does your customer pay for a work order/contract? How long does it take to train your people? How many levels of expertise do you have? What’s your top 3 objectives? 2 Measure and then measure some more
- 8. How’re others inyour industry doing? Metrics go a long way in making your job easy It costs over $1000 to make a second truck roll. “What if we did just a few less of these a month – that pays for the project!” On average, HVAC techs make 4 house calls/day. “If we did one more job/day, it would add $6,000 to our pocket monthly!” Field Service data is available from Aberdeen, the Service Council, Technology Services Industry Association (TSIA) and others Use free online tools 3 Get benchmark data
- 9. Act like aGM, Operate at FS level Management is concerned with decreasing costs and increasing revenue, so state the problem in those terms Management may not see the effects of Field Service business as clearly as you can, so peel it out for them Management wants market share and interested in what your competition is doing Management would be interested in cost avoidance (spending money to save money) Management is interested in making better business decisions Management is interested in the hidden costs 4 Think big picture, small picture
- 10. Don’t forget thetop line! Look at the impact on customer loyalty & customer retention Quantify how the project will help you sell more Service contracts Warranties New products/upgrades Join hands with your Sales counterpart to pitch the story. A joint case is win-win. 5 Prove the impact on the top line
- 11. The Perfect Pitch Simple,complete and fact-based State the problem Describe the solution Show the ROI Tell how much it will cost
- 12.
- 13. Live demo –ROI Calculator Demo Scenario Medical device manufacturer Annual service revenue $5MM Off-entitlement revenue $500K Average discount 10% 10 technicians @ $30/hr 2 visits/day
- 14. Success in bothMid-Market and Enterprise 200+ Customers in North America, Europe & APAC
- 15. ServiceMax Customers ReapHigh Rewards 31% 14% 11% 16% Productivity Service revenue First time fix rates Customer Satisfaction scores -16% -16% Field service costs Average time to repair ServiceMax Customer Survey, January 2013
- 16. Flawless Field Service,End to End The only complete field service solution. Delivered in the cloud.
- 17. Flawless Field Service Perfectyour service delivery Maximize your service growth/revenue Delight your customers
- 18. ServiceMax Delivers QuantifiableROI Increase service revenue by 14% Increased cross-sell & up-sell (sales/service) Capture and charge for all expenses/parts Increase tech utilization/calls per day Prevent warranty leakage through entitlement check Reduce spare parts leakage & excess inventory Increase productivity by 30-35% Enable partner self-service Increase first time fix rate by 10-15% Reduce back office staff Get a 360° view of customer Meet and exceed contract SLAs Reduce customer churn Increased customer loyalty through service based programs Improve ServiceControl CostsIncrease Revenue
- 19. Relentless Focus onYou 3 major releases / year Innovation and creativity New features included - never have to upgrade Almost 50% employees are engineers Focus on simplicity, creative and easy to use Fixed bid Committed to rapid deployment (weeks) Iterative implementation process Customer feedback through online meetings and user groups Exclusively focused on Field Service & Depot Repair Natively integrated to Salesforce.com Force.com platform experts Highly experienced and passionate team Cloud experience FS domain ExpertiseImplementation Support Product
- 20. Your Boss WillSay Yes! Homework done? YES! Project strategic and critical? YES! Technology proven and scalable? YES! Verdict = GREEN TO PROCEED
- 21. Try it forfree! Sign up for a Free Trial at www.ServiceMax.com
- 22.
Editor's Notes
- #3 I am certain most of us on the call today knows that getting the go-ahead to spend money on technology is tough, esp in Field Service which has traditionally been a cost-conscious, paper-and-pen driven industry. The lights turn RED everytime.inspite of aligning every critical aspect – like the timeline, budget and resources. It seems like the stars have to align to get anything purchased and deployed! If you’ve ever had a purchase request denied, it’s NOT you, it’s the Business Case! In today’s webinar, we will talk about how to build a strong Field Service business case and make you a star!
- #5 Changes in technology (mobile, social, cloud) have made it the time to buy after years of stagnancyThe effort is often too often fixated on one extreme or the other, i.e. “who cares what it costs, just make the customer happy” or “keep costs down –get them off the phone quickly and only send someone out as a last resort”
- #7 NPS is the Cust Loyalty Metric - "likelihood to recommend" question is a better predictor of business growth compared to other customer-loyalty questions (e.g., overall satisfaction, likelihood to purchase again).
- #8 For most companies, After sales revenue is 5%...now they target it going up to 10%.
- #10 CFO doesn’t care about time spent on spreadsheets, but cares about the $$ collections. Its not about time, but money. Think about how the data you will have access to will help you make better business decisions overall (i.e. cut underperforming service offerings, increase investment in over-performing offerings, improved product quality, design with service in mind)Think carefully through all the hidden costs of how you do things todayIs there older technology that you can turn off? Servers you won’t need to maintain?Is there a job that you can eliminate or re-allocate?Are we spending more on gas, phone bills, paper?Manual data entry time to log service details? Data entry between disconnected systems?
- #11 Your case should not be built solely on cutting costs
- #13 Profit center
- #15 ServiceMax is deployed to over 1200 customers of all sizes across North America, Europe and Asia Pacific. These are just a few examples of our customers.
- #16 We surveyed our customers to assess the true impact of ServiceMaxBy arming technicians with mobile devices and applications, ServiceMax customers can more precisely record work performed, time spent and parts used. They can capture this information in real time, as work is being performed thereby expediting cash flow. Service leaders would vouch that a 14% increase in service revenue is HUGE and companies spend years to achieve such results. With intelligent routing, real-time scheduling and advanced optimization, ServiceMax helps customers send the right tech to the job, every time. With social collaboration, anytime-anywhere knowledge base – troubleshooting videos and visibility to parts/pricing, ServiceMax allows customers to avoid the expensive second truck roll for the same job. Together, this has helped our customers achieve a higher first-time fix rate by 11%, which has helped boost customer satisfaction and create repeat buyers.Gaining real-time insight into the state of the partners’ operations and success metrics thereby containing inventory costs and warranty leakage in the service chain. ServiceMax customers get tightly integrated CRM and field service system with inventory and service parts management providing 360 degree visibility of products, parts, accounts and entitlements. This ensures only entitled customers get service. No parts are lost and there is no warranty leakage.
- #17 We help our customers achieve Flawless Field Service by delivering the most innovative and cutting edge solution available. We are the ONLY complete end-to-end suite of field service applications delivered in the cloud, driving transformation across all field service functions including: ContractsSchedulingPartsSocial CollaborationCustomer and Partner PortalsWe also offer full BYOD mobility across the product suite, and run on the most trusted and scalable cloud platform in the world.
- #18 Imagine Flawless Field Service. Imagine eliminating inefficiencies, driving growth, and solving customer issues sometimes before they even know they have a problem At ServiceMax our mission is to help our customers deliver the best field service possible to their customers. We do this by helping customers perfect their service delivery process, drive revenue growth, and not just satisfy customers, but delight them.
- #21 All you have to do is PROVE that the technology is worth the investment and the stars WILL align