What’s powering the growth of field service management software?

According to a 2018 report, the field service management software market is expected to grow from $2.56 billion in 2018 to $5.08 billion by 2023. That’s a staggering 98% increase.

While the latest report looks at the global field service management software market, it also highlights a growing demand for automation across Europe. As well as a progressing and expanding need for improved effectiveness in countries such as the UK.

Overall, the forecasted market growth is predicted to be driven by the increasing adoption of mobile applications and wearable devices among field workers.

What are the benefits of field service management software (FSM)?

FSM software helps businesses to schedule, allocate, and dispatch mobile workers for field work. It is used by organisations with a mobile workforce to increase productivity and efficiency. Common FSM tools include scheduling, dispatching, tracking, planning maintenance, invoicing etc. Quality FSM software will automate these tasks and provide greater connectivity between your mobile workers and back-office staff.

Some of the critical benefits of FMS include the ability to:

  • Engage and connect customers with improved services levels, customer portals and updates
  • Mobilise and support technicians with tools that let you get the right people to the right jobs, with the right tools and information, at the right time
  • Streamline and improve workflow management with innovative stock management, dispatch and scheduling tools
  • Safely and quickly capture and store data while reducing the burden of manual paperwork. So the need for employees to complete inefficient and time-consuming tasks is removed
  • Remove workplace duplication by leveraging connectivity-enabled data
  • Access your financial and operational performance, in real-time, allowing you to recognise and respond to revenue-generating and cost-saving opportunities quickly.

FSM can be hosted through a web browser as a Software as a Service (SaaS). This makes the cost of FSM genuinely compelling. With SaaS, your service provider charges you a subscription (usually monthly or yearly) to use the application. So you get access to everything you need online; with reduced physical infrastructure, less maintenance, and no need to install and maintain the software you need to run your business. The cloud also offers 24×7 data accessibility, anytime and anywhere.

How can FSM help your business?

Traditional ways of working are inefficient, costly and slow. They suppress our capacity to grow, resulting in reduced profit margins and dormant productivity. In response, businesses of all sizes are turning to SaaS to provide all the functionality they need; at a lower total cost of ownership (TCO).

So, with increased demand for SaaS-based solutions a key driver in the expected growth of this FSM market, UK businesses should look to invest now or risk being left behind.  However, while the market is growing at a fast rate, a lack of expertise when it comes to integrating Big Data into field service management software is expected to restrain its full growth potential. That’s why you need an expert you can trust. An expert that offers all the scalability and functionality you need, at a much more affordable cost than on-premises solutions. An expert like Service Geeni.

For more information on how our FSM software can help your business to increase productivity and efficiency, contact us today for an informal chat.