The field service management (FSM) market has experienced remarkable growth in recent years. According to a report by Research and Market, the Global FSM Market was worth USD 2.85 billion in 2019 and is predicted to reach USD 7.10 billion by 2026. In this era, businesses have a tendency to choose advanced software applications to optimise field service operations, including ERP systems. In this article, we would like to reveal how field service solution by ERP system helps businesses increase profitability.
Scheduling And Dispatching
Manual scheduling using outdated methods is a time-consuming task, especially when there are any last-minute changes or unpredicted obstacles. ERP systems allow managers to better schedule and dispatch personnel for servicing jobs. With a centralised data, they will be able to know the availability of a technician on a specific day, saving more time than checking manually. The system also provides a notification or alert function which eliminates overlapping and unnoticed works. As a result, managers can have a comprehensive picture of the company’s operation.
Besides, with field service solutions, employees can stay in touch with changing schedules. They can check the real-time status of any assignments in the system at any moment just via mobile devices. Even if there is no Internet connection, the system can save the revised details in the service checklist. Once a network connection is available, the system will automatically update the revision.
Keeping track of all installed equipment is one of the best ways to boost a business’s profitability. However, checking equipment manually is absolutely a heavy workload. ERP software is able to record all the information and basic identities of each piece of equipment sold and installed. The software will link the data from the sales order to engineering and production records. This is useful when there are any further judgments or analyses, such as the cause of a customer’s equipment breakdown. Besides, technicians can easily handle clients’ scheduled maintenance, recalls, certifications, and compliance issues.
During peak seasons, companies can have difficulties in completing customers’ jobs on time. Inefficient inventory planning is the main reason that results in the lack of parts or materials. Moreover, in inventory, the tools and repair parts are often dispersed among many vehicles and warehouse locations. In this case, ERP solutions can help companies easily control and track these locations and expenses.
Field service solution by ERP systems allow users to track the profitability of inventory items in connection to engineering, maintenance expenses, and customer transactions. This helps you to consider which inventory parts are being used most effectively to increase sales, and which elements may need to be revisited.
Accounting And Administration
Field service solution enables companies to create billing timelier and accurately. The software allows you to automate billing production for conventional service contracts with multiple billing frequencies (monthly, bi-monthly, quarterly, bi-annually, yearly). The software will automatically select and generate the invoices when due.
Customers can be sure that warranty and contract fees will be appropriately credited, and pricing will be up-to-date and accurate. Moreover, technicians will never have to enter data manually or repeatedly. The system also alerts when maintenance contracts are up for renewal to maintain your revenue stream and help customers be aware of their payment terms.
Synergix Field Service Solution is an integrated ERP system that optimises field service processes. Our system will organise tasks and assign your service engineers/technicians in the most efficient manner to give top-notch service performance quality, thereby raising client satisfaction to the highest level.
In order to motivate Singapore companies to embark on the digitalisation journey, the Singapore Government has offered Productivity Solution Grant (PSG) and Enterprise Development Grant (EDG) with maximum support of up to 50% of the qualifying costs.