As a service company grows, it can be challenging to manage the day-to-day operations in a way that ensures both customer satisfaction and company profitability. The reason? Widening your coverage area and servicing more customers requires additional staff, both in the field and in your office. The busier you get, the more difficult it is to manage all areas of operation including employee productivity, work order status, inventory levels, invoicing, payments and customer information.

So, how do you keep an eye on all these critical factors and still have time to grow your successful service contracting business?

The answer is data.

Data collection can help HVAC, plumbing and electrical contractors turn paper-based processes into electronic records which are instantly accessible. Thinking about tracking and analyzing data can be overwhelming to any business owner, but it may be especially nerve-wracking if you are unfamiliar with field data collection. It’s not uncommon to have questions like:

What kind of technology and software do I need?
Will it be difficult to implement?
Will my team be on board?
What do I do with the data once I have it?

Harnessing and Using Data in your Service Business Doesn’t Have to be Complicated

The truth is that using data to make smarter operational decisions doesn’t have to be complicated at all. In fact, the best field service management (FSM) software should be a simple and sustainable option. FSM software should be easy to set up, easy to implement and easy to understand.

The data you glean from it should help you avoid wasting time and money on inefficient operations, ineffective inventory management or inaccurate job costing. Additionally, the right software should help you coordinate all areas of your business from headquarters, to warehouse and back out to the field.

Akin to the old adage, “Measure twice, cut once,” your FSM software should be a data management tool that can help you spot inefficiencies early on to eliminate wasted resources, minimize mistakes and improve job completion rates.

MarginPoint FieldPlus field service management software is that tool. With our real-time dashboards and cloud-based technology, you gain increased insights into the metrics and key performance indicators that drive your business. Take a look below and see how data can take your service business to the next level.

Establish Benchmarks

With the right field service management software, you can monitor field technician productivity, service response times, dispatch procedures, job completion rates and inventory usage to help make better operational decisions. FSM software solution gathers critical data and spot trends for you to:

• Streamline material management
• Improve employee productivity
• Reduce inventory consumption
• Improve customer relationships
• Boost profitability

Improve Material and Time Management

Too much or too little inventory can mean the difference between completing a job or losing it to the competition. Your FSM solution should integrate with a mobile inventory control software that provides real-time visibility into the inventory levels of all stocking locations, including your warehouse and fleet of vehicles.

Data gathered can also eliminate technician downtime and boost your operational hours. Improved inventory management helps you ensure all technicians have the right parts on hand, enabling them to complete more jobs each day without wasting time chasing materials.

Enable Faster Payment Processing

Because your company’s financial health requires a robust accounting system, your field service management software should have the option to integrate with your existing QuickBooks application. A seamless integration with QuickBooks can send invoices, manage revenue and expenses, maintain balance sheets and provide improved financial reporting. The result may well be a reduction in your accounting team’s workload and increased control over your financial future. Not only does a QuickBooks integration speed up payment processing, but it can eliminate dual-entry and accounting errors.

There’s no need to fear the process of collecting data in your business. MarginPoint makes it simple. There are many factors at play in your service company’s financial future and data can help you streamline your operations, maximize your productivity, enhance your customers’ satisfaction rates and pave the way for a more profitable tomorrow.

Request a demo today and discover how MarginPoint FieldPlus can help you up your service game.