How the flow of asset data and cross-departmental collaboration marks the beginning of the servitization journey of your company
Asset and inventory management without the right tools can be not only difficult but an impossible task. Especially when you must manage more than one system. With the help of field service management, this is not a problem anymore as it can integrate with other systems to provide ample and real-time information.
My father is the owner of a sanitary fittings business. He used to handle the assets and inventories manually until I told him about some field service management software. There were times when miscalculations were very common because of theft, administrative error, vendor fraud, and cashier error. But after using Custella, a field service management software, he enthusiastically shared his satisfaction regarding the increased visibility of his inventory, productivity, and profit.
According to new research performed by Field Service News, while the field service industry has thoroughly grasped digital transformation and data-driven methods to service design and delivery, limited systems of record continue to impede the effective use of asset data obtained. However, the study found that firms that exchange data across business units had a higher possibility of cross-departmental collaboration, the growth of servitization, and increased performance.
A global benchmarking report was created through interviews with over 230 field service leaders from a variety of industries, including manufacturing, utilities, telecommunications, power generation, healthcare, med-tech, security, and many others. The major goal was to determine whether asset data (data with deep and rich value for the entire business) is shared and used widely among service organizations, or whether it is kept in a silo of operations. Furthermore, Field Service News investigated whether data migration within an organization is a significant element in enabling increased cross-departmental collaboration, which is a measure of a company's willingness and ability to adopt servitization. The most eye-opening discovery from the study was that firms with data shared across business units have a higher possibility of cross-departmental collaboration, servitization development, and increased performance. When only the responses from firms that claim to have some level of servitization adoption are included, the sharing of asset data within a business is ubiquitous, with 100% of respondents claiming that this is the situation inside their organization.
Servitization is a proactive field service management method that goes beyond the typical short-term focus of selling stand-alone devices and doing one-time repairs. An OEM can use the Internet of Things (IoT) to remotely monitor key operations and provide predictive maintenance services to eliminate unplanned downtime with servitization. Servitization streamlines the service process, allowing field service organizations to improve customer satisfaction, boost client retention, and increase profits. Field management software like Custella ensures asset data flow, servitization, and cross-department collaboration. Here’s how the flow of asset data and cross-departmental collaboration marks the beginning of the journey to servitization:
Asset management: Software like Custella will look after the management of your assets. Asset check-in and check-out can be done by scanning the RFID. It can integrate IoT devices, and everything is under one system which makes the process seamless and efficient.
Inventory management: Inventory management allows you to establish virtual warehouses and manage them. It is also possible to manage handover paperwork and inventory transfers. Traditionally field service and assets were managed separately. Now you have real-time information about inventory.
RFID or barcodes: Defending against fraud can be difficult and stressful at times. Custella will also take care of that. RFID can be used to take inventory quickly and efficiently, as well as to combat fraud by maximizing space and visibility.
Customer portal: You can get a full view of transaction history, product purchases and warranties, and past engagements from a single platform. Your customers can get real-time status updates from their service provider. Also, they can place new orders through the software.
We live in a time when data supports every facet of success in a service-centric organization, yet extracting meaningful and actionable insights from the data available can be difficult. Modern technologies and processes are more crucial than ever before because they may help firms rethink the current quo by facilitating integration and cooperation. To future-proof the business, the companies are rethinking their business design and adopting field service management software to ensure productivity and boost their business.
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