Modernizing field operations through digitalization is key to improving the service-to-cash cycle and service P&L. It’s critical to keep up with mobile workforce management (MWM) capabilities to support data access and better align and improve field service work, parts management and ordering, and customer service. All three are crucially integrated and benefit from digitalization to improve service-to-cash cycles.
Because field service management (FSM) software gives a deeper overview of how customers use assets and their service agreements, companies can provide the best solution for each customer. This helps move the customer relationship from transactional to genuine partnership. As a result, organizations are building more transparent relationships with customers to refine the service-to-cash cycle with FMS technology using a variety of strategies:
Avoiding Delayed Payments by Using Asset Data
Determining what delays payments is the first step in boosting service P&L. Conversations between accounting departments are vital for an efficient turnaround, billing cycles, and payment authorization for invoices. Likewise, building partnerships with your customers’ bills payable teams is central to refining the service-to-cash cycle. FSM software can help manage through a two-way dialogue interface that makes the invoicing process more transparent and aligned with customer operations.
Automating and Mobilizing Workflow and Integration
Automation better manages processes by bringing clarity to the table. FSM technology gives field technicians the ability to see past and real-time customer issues, ensuring they have all the information they need when they’re on the job. It also brings opportunities for field technicians to offer suggestions and upsell to meet and exceed customer needs. Automating invoicing is the central way digitalization modernizes legacy processes. Mobilizing your digital capabilities also allows you to focus on the bottom line while technicians in the field can foresee customers’ future needs and make those on-site sales possible. Digital capabilities in the field also mean cost savings in hourly payments, making the most out of your field technicians’ time.
Optimizing digitalization through FSM solutions can bring new business opportunities from the field. Cutting-edge technologies that improve service-to-cash cycles separate the wheat from the chaff. Today’s technological advances can help field service organizations better meet customers’ needs and take the first step toward integrating their service-to-cash cycles and boosting their service P&L by leveraging asset data effectively. Access to data is crucial to finding solutions for challenges related to the lack of efficient processes. FSM technology provides technicians with the digital tools they need to document what they see in the field and better serve customers.
Conducting Real-Time Reporting
Collecting data is best done through real-time reporting and leveraging algorithms. Field service companies must focus on compiling data that helps make cost-efficient decisions and track progress and bills payable. Above all, when collecting data, organizations must ensure they are using intuitive and predictive analytics to find solutions to challenges for their customers. Field service technicians can then remotely monitor from the field to boost productivity.
FSM technology, such as Gomocha’s FMP360 field service platform and mobile app, provides organizations with the features they need to offer the most efficient and effective solutions. This enables companies to move away from more transactional interactions with customers to build genuine partnerships with them, which helps to shorten the service-to-cash cycle and boost P&L.