A recently published study by Aberdeen, a Harte-Hanks company, found that leading field service organizations are adopting business intelligence and data analytics technology and best practices to enable better and faster decisions and reporting within post-sale service organizations. They are also beginning to deploy simulation modeling within their organizations to perform sophisticated “what-if” planning and forecasting.
Among the service organizations recently surveyed, companies that have implemented technology for reporting and decision support have improved:
• Service profitability by 17%
• Customer retention rates by an average of 29%
• Service Level Agreement (SLA) performance by 33% Best-in-Class organizations are showing greater improvements, with service profitability up 18%, customer retention increase of 42%, and a 44% improvement in SLA compliance.
Other service organization Best-in-Class characteristics include:
• 80% have enterprise-wide balanced scorecard initiatives in place
• 71% have a vice president or higher executive overseeing service functions
• 40% have established enterprise-wide standards and process to ensure data accuracy
Aberdeen recommends that service organizations consider the following strategies to drive efficiency and decision support within their service organization:
• Implement technology and process to ensure data accuracy within the service operation.
• Provide service organization with total visibility into parts, workforce and knowledge across the enterprise.
• Implement technology to enable “what-if” simulations.
• Focus attention on longer-term customer-facing metrics like retention as well as profit.
Find more information on the service and support industry and www.SupportIndustry.com