Use our interactive calculator to see what kind of ROI results your organization could achieve by implementing field service management software.
Investing in the Right FSM Solution Can Pay off in Dramatic Ways
In today’s digital world where customers demand personalized experiences and field workers depend on instant access to data, investing in future-proof FSM software is pivotal. You may be familiar with some of the benefits of field service management (FSM) software such as automated tasks and improved efficiency, but did you know it can deliver significant return on investment (ROI)?
Field service management (FSM) software should empower your organization to achieve new levels of productivity and operational efficiency. At Astea, we are committed to helping you do just that. If you’re not investing in the right FSM, you may be missing out on benefit potential of $919,246.20 (year 1) including:
Use our ROI calculator to see the rewards your organization could reap by implementing FSM software or keep reading to get our insight on the impact of FSM on your ROI.
Four Key Ways FSM Software Benefits Your Business’ ROI
- Increasing Your Organization’s Productivity
For your organization to function efficiently and effectively, your staff in every channel must be able to access customer data at any given time. A field service software system stores all your data in one secure location. Field technicians, call center personnel, and front and back office staff all have access to the same information, no matter where they are. Astea’s call center management software will enable your customer service representatives to handle a higher volume of calls, increase first-call resolution rate, and decrease call times. The mobile app enables field technicians to track inventory, customer history, and communications. With this information at their fingertips, they can approach each job with the highest degree of professionalism and boost first-time fix rate. Field service software helps your workforce eliminate errors and complete in-progress work more quickly, which means they’re performing at their fullest potential and making your customers happier!On average, companies using Astea’s field service software see a 19% improvement in first-time fix rate.
- Lowering Your Costs of Doing Business
Field service management allows your organization to reduce your overall investments in inventory and transportation. By sending the right technician with the right equipment to each job, you’ll decrease work order turnaround time, reduce standing inventory cost, and cut your fuel and overtime expenditures. Having an FSM platform that includes inventory management helps ensure your technicians always have the right parts for the job—nothing more, nothing less!Effective utilization of resources can decrease overtime hours by 7% and fuel costs by 10%.
- Generating More Revenue Through Up-Sells and Cross-Sells
Since acquiring new customers is 5-25% more expensive than keeping your existing ones, client retention is vital to your business’ health. If you don’t have a proper CRM tool in place, keeping existing customers happy is a huge challenge. But the best FSM software benefits your business by making it easier to understand and manage your client base easier than ever. When technicians can readily access customer information, they’re better able to understand and fulfill customers’ needs, increasing customer satisfaction and retention. In addition to retaining customers, you need to focus on upsell and cross-sell opportunities. As pointed out by Bill Pollock in his Strategies for Growth Newsletter, technicians deployed in the field can readily suggest to clients how your additional services from your company will benefit them. Astea’s field service technology has built-in sales functions to help technicians act on business opportunities and drive profit growth. Increase customer retention rate by up to 15%!
- Shortening the Length of Your Billing Cycles
With the right field service management software, a technician can finalize the work order and invoice the customer onsite. The ability to bill on a same-day basis drastically reduces your overall billing cycle and creates more consistent cash flow for your organization. By achieving faster service-to-invoice payment, your company can significantly accelerate your cash flow.
Field service management software creates many opportunities in year 1 of implementation such as revenue of $205,335, cost savings of $86,520 and more:
ROI Quiz: See What Your ROI Could Look Like
If you would like to see additional estimated savings an FSM solution could bring your organization, take our five-minute ROI quiz to receive a personalized report.
Your report will detail the real impacts the right field service management software could have on your business:
- Total Annual Service Revenue
- Annual Service Costs
- Customer Retention Rate
- Average Billing Cycle
Field Service Management Software Reviews
Interested in service software but want to hear about it from companies who may be facing challenges similar to your own? Check out these testimonials and success stories from our customers.