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10 Ways to Stop Service Revenue Leakage

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How can you increase profits while your money is literally going out the door?   We have identified 10 common service problems companies experience and provided some solutions to those problems, which will help you fix your revenue leakage as well as increase efficiencies and drive more revenues.

Publicada em: Negócios, Tecnologia
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10 Ways to Stop Service Revenue Leakage

  1. 1. 10 Ways toStop ServiceRevenueLeakageby CSDPCorporation
  2. 2. How can you increase profits while your money isliterally going out the door?We’ve identified 10 common service problemscompanies experience and provided some solutionsto those problems, which will help you fix yourrevenue leakage as well as increase efficiencies anddrive more revenues.Overview
  3. 3. We’ve fixed something that was out ofwarranty and didn’t get paid for itbecause the technician didn’t haveaccurate or up-to-date warrantyinformation.1
  4. 4. The key is connecting multiple systems containingwarranty, contract, and other entitlement data or using aservice lifecycle management solution that usesentitlements as the foundation of the system. With theproper contract information readily available, service staffcan recognize out-of-contract and out-of-warrantycircumstances and sell the client the needed services.For more information, read our white paper A UniqueApproach to Service Entitlement.Solution
  5. 5. We are unable to deliver proactiveservice based on customer andservice information.2
  6. 6. SolutionAnalytics can help here by utilizing information gainedfrom companies with the same products or profiles.Careful data analysis and proper use of your servicelifecycle management software can uncover trends andways to differentiate your service.
  7. 7. Our service technicians oftendon’t have the right parts on handto make repairs.3
  8. 8. SolutionYou must track the repair process from start to finish and give your service teamreal-time visibility into the location and status of each product or service part.How? Parts planning software, parts inventory tracking, and order planningsoftware.This ensures that you always have the correct parts on hand in order to be fullyprepared to make repairs at all times. With an integrated service lifecyclemanagement software solution, you can:• Arm your field team with the proper parts and mobility solutions• Ensure that technicians with the right skill set are properly dispatched the firsttime with the right information and parts• Give field service technicians real-time access to critical service data 24x7• Allow field techs to complete transactions while on-site
  9. 9. We’ve noticed a decrease incustomer satisfaction due toincomplete details on supportcases, solutions, warranties, etc.4
  10. 10. SolutionTechnology Services Industry Association (TSIA) points out that 84% of customers wholeave do so because of poor, slow, and incomplete service. This is another example of whya single, unified view of all customer and service delivery operations is critical.You need to have full insight into every aspect of service and support, including:– Warranties– Entitlement– Contracts– Knowledge management– Depot repair– SchedulingYou can read more about this in our article in Field Technologies magazine: A Single Viewof Customer and Service Operations.
  11. 11. We have had scheduling conflictsdue to inaccurate and outdatedviews of dispatch operations.5
  12. 12. SolutionBelieve it or not, according to the Mobile Field Service Report by theAberdeen Group, there are companies who are still “relying on pen andpaper and back-and-forth phone-based communication to get service workdone.” Not only is this inefficient and time-consuming, the fact that papersare physically being pushed increases the likelihood that the content isoutdated, inaccurate, or gets misplaced. Mobile field service software givesyou a real-time view into where your service agents are, what parts theyhave, and what parts they need to complete a job.Dispatch software tracks service technicians’ time, parts, and expenses andgives you automatic alerts and notifications. In addition, you always havereal-time and accurate views of dispatch operations to prevent servicedispatch conflicts and you can assign multiple service people to a job whennecessary.
  13. 13. We’ve noticed inefficiencies in ourservice operations.6
  14. 14. SolutionIt sounds like it’s time to get your business objectives and processesin line. Business process mapping (BPM) is a tool that can:• Help align goals and objectives• Develop more efficient and effective processes• Improve key support metrics• Ensure success for new technology projectsWe have a series of blogs written about this if you want moredetailed information on the 4 steps involved in business processmapping.
  15. 15. We aren’t agile enough to quicklyrespond to changes in our businessand processes.7
  16. 16. SolutionIf you’ve mapped and updated your business processes asrecommended in number 6 above and you’re still havingproblems in this area, your software could be holding youback. What you need is an on-demand work flow tool thatallows you to make business process changes "on the fly"to instantly respond to business and environmentalchanges as they happen.Watch this video to see an example.
  17. 17. We’ve missed contract renewaldates which negatively impactsrevenues and customersatisfaction.8
  18. 18. SolutionIf you’re using multiple, disconnected systems as mentionedabove, you’re losing revenue and negatively impacting yourcustomer satisfaction. Tying the systems together is just the firststep. You then need to put safeguards in place to be notifiedwhen a contract is due and then take action on that notification.Or better yet, utilize service lifecycle management software thatwill alert you when contracts are due for review or can sendautomatic invoices based on renewal dates, so your serviceorganization will never miss a contract up for review or renewalagain.
  19. 19. We lack the ability to generate newrevenue opportunities (cross-selland up-sell) each time a fieldtechnician goes on-site.9
  20. 20. SolutionYour field technicians are often the closest relationship you have with your customers.They can effectively augment your sales staff by cross-selling and up-selling, but thisrelies greatly upon training. Your technicians should not only know what productscorrelate with each other, but also when to extend those offers. Knowing the rightmoment to sell a product requires a soft skill that should be taught before yourtechnicians even make it out into the field.Once in the field, your technicians need to have access to your field service software inorder to know the customer’s products and services purchase history. Then, technicianscan do things like identify recurring service issues and recommend replacements orupgrades. Ideally, you should take it a step further by setting up what-if scenarios sothat if a customer has product A, then an alert will pop up for the technician to discusscorollary product B. Or when a technician resolves certain issues, an alert is sent to thesales/account manager about an up-sell opportunity.
  21. 21. Our field technicians and callagents have to log into multiplesystems to get the customer andservice information they need.10
  22. 22. SolutionWe can’t emphasize enough the importance of tying all yourcustomer and service data together. If you’re not in a positionto deploy a seamless service lifecycle managementsolution, a cloud-based middleware solution will unite yourinternal and external data, processes, and technology.For more information, read our white paper, Defining theSeamlessly Connected Enterprise: A guide to unitingprocesses and technology.
  23. 23. CSDP offers a Revenue Leakage Assessment to evaluate your serviceand entitlement processes to determine where you have gaps in yourprocess and are losing revenue.Benefits:- We provide recommendations to close the gaps in your serviceprocesses- We show you the impact and transformation that new processesand systems can have on your organizationNext Steps
  24. 24. CSDP is a services-led software company with solutions that can automate the entire post-sale servicedelivery process including:• Field Service• Reverse Logistics• Customer Support• Service Contracts, Warranty & EntitlementsOur clients have realized improved customer satisfaction by up to 15 points, increases in serviceprofitability exceeding 10%, decreased average cost per repair of 50% and increases in first callresolution greater than 20%.The Service Relationship Management (SRM)© product suite addresses the complete end-to-endservice delivery lifecycle including Contact Center, Dispatch/Mobile, Depot Repair, Inventory Control &Management, Knowledge Management, Marketing and Quote Generation, WarrantyEntitlement, Training, Contracts/Billing, Reports, Scheduling, and Time Tracking. Our software is fullytailored to fit your companys needs and easily integrates with your existing infrastructure so that itimplements quickly and begins generating ROI immediately.CSDPs SRM© software solution has been delivered to some of the world’s foremost Fortune 500companies to include IBM, Xerox, Fujitsu, Whirlpool, Rockwell and PSE&G.About CSDP
  25. 25. WebsiteBlogService Relationship Management LinkedIn GroupContact us at 888-741-2737 X 107E-mail us at info@csdpcorp.comCSDP Corporation15615 Alton Parkway, Suite 310Irvine, CA 92618Contact CSDP