Field Service Management

The Field Service Management market research delivers current market analysis plus a five year market and technology forecast. It is available in multiple editions including worldwide, all regions, and most major countries.

Field Service Management Market Driven by AI Enhanced Solutions

ARC Advisory Group research on the Field Service Management (FSM) market reveals that several drivers are converging to drive growth. Infusion of industrial AI in the industry continues to improve business processes, simplify jobs for the workforce, and scale technology. Industrial AI is being leveraged in various areas, including asset management and field service management. Industrial AI is helping users simplify and bring in improvements throughout different stages of field service. Based on the details on asset health conditions and technician skill sets, modern FSM solutions can leverage industrial AI to recommend the right technician to the scheduler or even match and schedule the technician itself. AI and data analytics are also proving to be of immense help to optimize the route planning process.

Field Service Management Strategic Issues

In addition to providing a five-year market forecast, the Flowmeters Market Research Report provides detailed quantitative, current market data and addresses key strategic issues as follows:

Focus on the Business Case

Programs for improving revenue nearly always gets executive attention. It is much easier to successfully justify investments in FSM based on growing revenue and profit potential with well managed and executed services, rather than just focusing on cost reduction strategies. With FSM, there is an opportunity (particularly with OEMs) to run the maintenance operation as a bona fide profit and loss (P&L) operation–one that provides tools to manage both costs and revenues. Capturing revenue opportunities and improving internal efficiencies are needed in today’s FSM operations, and this is far more impactful to organizations than marginally reducing costs and placing too much emphasis on soft (non-financial) benefits.

Transitioning the services into a P&L center aligns with executive metrics, gets their attention, and obtains the resources needed to be successful. Service providers need a good service execution program, from the receipt of an alert to making a repair, to reporting to the client. In the past, service had often been a difficult business to manage with sporadic urgent calls for repairs that were beyond the capability of an on-site, general-purpose technician. With IoT and predictive maintenance capabilities, maintenance organizations can have advanced notice, insight into the problem, and time to optimize field service schedules.

Consider Full Organizational Impact

An organization’s brand image, profitability, and customer satisfaction are all related to product and customer service, making service and maintenance a team activity, if you will. Highly effective enterprises understand the role of field service in driving overall customer satisfaction. Managing the customer experience from the call center through to the service call and billing involves workflow management that crosses several functions. The separate functions have been silos with their own software application. The help desk has CRM, field service uses FSM, and accounting has a module in its ERP application. End-users should look into solutions that can help information flow through different systems smoothly to better manage the workflow and improve customer experience with fewer internal disconnects.

Expand Mobility and Visualization Capabilities to Optimize Field Service Delivery

Completely review field service business processes when adopting an FSM application. Avoid replicating current manual and paper processes in digital form. A structured approach to this business process optimization includes value stream mapping, which is also a key lean manufacturing practice.

Common smartphones and tablets should be used to deploy FSM. Mobility encourages adoption, improves usability, and lowers overall service delivery costs. With mobility, processing a work order becomes part of the workflow of a technician. The corresponding data entry has far fewer errors, which improves overall system integrity. The FSM solution becomes a trusted system for scheduling and execution.

Mobility and visuals also improve the first-time fix rate (FTFR) by giving the technician access to resources like documentation and other more experienced technicians. The novice can access a standard operating procedure or manual while on the job site in real time. Even experienced technicians can be confronted with an issue where they need support. Mobility allows the technician to communicate with a subject matter expert, share photos/videos, and obtain specific feedback.