Indicators on Field Service You Should Know
It is important that field service companies optimize their operations for high-level productivity and efficiency. The activities of these operations should thus be guided by indicators of their efficiency and productivity. Field service management focuses on the indicators of efficiency and productivity. Here are the top indicators on field service you should know.
Billable time is the percentage of productive time that technicians get paid for. Field service companies should measure billable time to assess whether they are making enough money and whether they need to implement newer strategies such as selling maintenance contracts.
By measuring billable time, a field service organization gets insights into how well it is applying its human resources. Measuring billable time can be described as an essential aspect of field service management.
Response time is basically the time it takes for technicians to get to clients after requests are made. This is a direct indication of how long it takes for clients’ requests to be attended to. The response time also influences the productivity of the technicians. Response time also particularly influences customer satisfaction.
If clients’ requests are attended to within a short period, they will be happy with the quality of service they service and will be more likely to recommend the organization to others.
When field service organizations track their response time, they can optimize their operations in ways such as applying solutions for real-time tracking and messaging of techs.
Percentage of warranties converted to maintenance contracts
The first contact of field service companies with many clients is through warranties. In such cases, the goal is the conversion of warranties to maintenance contracts. This is why the percentage of conversion of warranties to maintenance contracts is an important indication of the success and productivity of field service organizations.
Satisfied customers will be willing to convert warranties to maintenance contracts. When organizations track the percentage of conversion of warranties to maintenance contracts, they can institute measures to improve the rate like sending reminders to clients whose warranties are about to expire to convert the warranties to maintenance contracts.
Percentage of expiring maintenance contracts that were renewed
The renewal of maintenance contracts is an indication of customer satisfaction and the productivity of the organization. Organizations should track the percentage of maintenance contracts that are about to expire so that reminders can be sent to the customers.
Tracking the percentage of expiring maintenance contracts that have been renewed gives organizations insights into those that need to be nudged to renew their contracts. It is also important that field service organizations work towards maintaining a good relationship with their customers to encourage the renewal of maintenance contracts.
First-time repair rate
This is a clear indication of the efficiency of operations of field management organizations. It is also an indication of the quality of customer satisfaction. Field service organizations should work towards achieving the highest first-time repair rate.
Field service management particularly focuses on improving the first-time fix rate by equipping them with the required tools and expertise.
These indicators on field service are important metrics to measure for the optimization of operations and achieving enhanced productivity.