Providing excellent service can be challenging, but it should be profitable. So if you are struggling to achieve your profitability goals here are some top tips to help you succeed.
Optimise your workforce
If your engineers spend too much time on the road, your profitability will suffer. Both short-term due to the number of jobs you can manage in a day, and long term when you lose frustrated customers.
By using scheduling software, you can generate the optimum schedule based on job, geographical area, priority and customer. This will help you to increase your efficiency, optimise your workforce, and boost your sales.
Maximise your service contracts
Today, we are moving from an ownership economy to one where people and businesses get access to everything they need, without the burden of proprietorship. For service-led companies, this opens up real opportunities to thrive by adding services to a product and creating value for the customer. For example, selling maintenance contracts with goods. But it’s vital that you don’t give these services away for free.
To boost profitability, make sure you keep track of all customer contracts to eliminate unwarranted service giveaways. You should also establish processes that alert you before a contract needs to be renewed so that you can reach out to customers in a timely fashion.
Offer more predictive service
For your customers, productivity relies on maximising product uptime. This applies to industrial systems and office-based equipment such as photocopiers and computers. As such, there is a growing demand for better quality service and less equipment downtime. And you can boost your bottom line by capitalising on this.
Rather than operating a reactive break-fix service model, deploy tech such as sensors, PPM modules and machine learning to enable the pre-emptive repair of equipment before it breaks.
Make sure your technology delivers ROI
You need the right software and hardware to operate. But service-led businesses should also be looking at whether any investment they make is financially worth it. Will it deliver Return on Investment (ROI)? Establish whether the systems you use will help you to boost revenue, save costs, minimise downtime and make intelligent decisions that will improve your bottom line.
Keep track of all your stock
Keeping track of parts is essential to your productivity. You won’t make you money if you lose them. But it can be challenging to keep track of inventory, particularly when engineers keep stock in their vehicles.
When you invest in stock control software and a mobile worker app, you can keep track of items between locations and from job to job. Engineers simply select used parts from their van, and this is automatically deducted from your inventory.
What’s more, a stock control system will also ensure that you are not buying things you don’t need. Making it easy to set maximum, minimum and reorder levels for each stock item, you’ll always know what’s available. And have all the parts you need, without spending unnecessarily.
Keep track of all your assets
Without knowing what equipment you have, where it is, and in what condition, it’s impossible to ensure efficient and productive working practices. However, asset management software can be deployed to give your business a clear overview of what equipment is where. So you always know what you have, and when maintenance needs to happen. Minimising the cash-guzzling impact of unplanned downtime you can even use mobile devices to report on the condition of an asset in real-time.
Service-led industries are inherently mobile. So it’s vital you have the necessary tools. With a mobile worker app, your mobile workers know about their day’s engagements without having to come into the office. So, they spend more time on those jobs that make you money.
What’s more, with cloud-enabled service technology, your mobile workforce can mark jobs as complete (or flagged for further action) once done. So you can get those all-important invoices out quicker. You’ll also benefit from the simplification, standardisation, and streamlining of business processes with staff able to fill in electronic forms using any mobile device, and this information syncing with your back office systems.
For more information on how our service management software can help you to boost your profitability, contact us today for an informal chat.