Business Transformation in the Field Service Industry

The transformation of businesses is yielding results for ServicePower customers.  In 2016, ServicePower achieved double digit revenue growth, became EBITDA profitable, and went private.  This is due based on our success in using our technology and managed services to begin or accelerate the business results for our customers.

Field based businesses are facing challenges and transformation, in addition to recognizing that customer services, productivity, and revenue growth are paramount. The focus has changed from being about meeting an SLA, to focusing more about that as a “given” and instead prioritizing the embrace of new technology, improving customer service / experience, and improving the profitability and trusted advisor aspects of the technician.  We are also seeing the acceleration of customers looking to ServicePower’s experience in managing the internal and extended work to help them to either build a branded service (internal workforce) or help them to build out the capabilities to credential, rank and manage an extended workforce, as well as use real time status updating and location awareness to offer “uber-like” capabilities if a technician has slack time in his or her schedule.

ServicePower’s sweet spot has long been customers with high value assets or demanding schedules either due to SLAs, high job volume, or some other complexity.  We are effective with them because of the power of our optimization technology, as well as the reach of that technology related to how we can “optimize” across the spread of work between type of workforces (internal or external), assist our customers in “heat-mapping” related to coverage, skills, etc. The mobile and wider service management capabilities available within ServicePower are also progressively differentiating the business strategies that are available in the field. An example of this is using mobile not “just” for statusing and job/customer information, but also for localized inventory management, and the tool to be enabling additional capabilities to the technician.  A great example of this is looking at not just whether mobile enables signature and payment capture, but taking it to the next level of how to effectively transition or enable technicians to be dynamic to meet their service contract customer expectations, and to also pursue additional transaction or charge on delivery activities.  Likewise, the incorporation of more retail customer functionality to be included in the customer platform is an area that ServicePower has accelerated the development to be launching a transformational customer portal that can be configured for customers, but yet still be tied in the back end capabilities of ServicePower such that the jobs are still presented as “optimized.”  This is a huge differentiator related to other customer portals in the market today.

Companies with high value assets that may have looked at traditional maintenance models now are looking to how they better managed their work flows that involve both internal and third party technicians, as well as the demands of building more productive or responsive maintenance schedules, and balancing that with other installation and repair work as relevant.  Add in the demands to manage this work across both employed and third party technicians, and it becomes quickly obvious why ServicePower is the right choice given the ability to have line of sight and optimization across all aspects of a service business.

Fundamentally, the key here related to business transformation is that technology that checks the box is nice, but it is the power of the intelligence behind that is configurable to the company and business model that is what truly enables the customer experience and productivity or profitability of the given field based enterprise.  The big growth areas for ServicePower in 2017 is expanding what we can do around magnifying and optimizing customer experience in the hands of the retail customer, continuing to assist more customers on their journey building out or refining their hybrid workforces, as well as enabling technicians to be trusted advisors, including having the ability to do more transactional work when sent on a service contract visit.

Businesses that are looking to grow and expand their revenue models as well as their total operations are coming to ServicePower for advice as well as the appropriate software given ServicePower's experience in the marketplace.  Let us ensure your success to grow your revenue and business capabilities.