simPRO highlights key trends impacting field service management in 2022

Not many field service businesses would ever have imagined that they would be prevented from actually working in people’s homes or that commercial buildings would be standing empty, in turn limiting demand for asset maintenance. The pandemic brought all of this to reality.

The challenges of remote working in an industry that’s not meant to function with a remote workforce were severe. Field service businesses closed their doors as they attempted to run their operations from somewhere other than the office. Not all trade businesses were crippled, though. Some were able to keep working, albeit at an incredibly reduced pace.

In fact, those businesses with the ability to access data and organise their workforce remotely saw little interruption in their workflow as long as their jobs were socially distanced and considered to be critical work.

This will come as no surprise to many, but over the past decade the trade industry has been using software more and more, leaving paper-based workflows in the past. This trend has enabled businesses to be more efficient, more productive, more profitable and know more about what’s going on in their organisation. COVID-19 served to reinforce software’s importance for a thriving and future-proof business.

A recent Market Reports World study entitled ‘Global Field Service Management Software Market 2020-2024’ forecasts that the global field service management software market will grow to US$3.43 billion by 2024. The expectation, then, is that cloud-based software will continue to ‘supercharge’ the work from anywhere’ scenario.

Shaping asset management

The Internet of Things (IoT) has been around for a while and is now very much a part of everyday life. Think Google Home and Fitbit. However, the field service industry has been slow to pick up and run with the IoT. Until now, that is. In much the same way that it has influenced many aspects of our lives,  COVID-19 has boosted the uptake of the IoT within the trade industry.

With limited access to buildings and the assets inside them during the pandemic, remote monitoring supported by the IoT has grown in popularity as an alternative to on-site asset maintenance. Not only does remote monitoring through the IoT provide customers with peace of mind that their building and assets are secure, even while no-one’s there, it also allows diversification of service and new revenue streams for field service businesses.

Instead of relying on break-fix or preventative maintenance, field service businesses can transform their operation to deliver a condition-based maintenance solution. This allows businesses to use a recurring revenue service offer, targeting customers who only require on-site visits when necessary. This also helps businesses increase the customer-to-staff ratio, boosting capacity to take on more sites and contracts without increasing overheads.

This use of the IoT for asset maintenance is also beneficial for customers. Data collected from constant monitoring of assets also allows businesses to more closely anticipate when a security asset may need maintenance. This ongoing learning not only enhances customer service, but also helps to prevent major downtime or asset failure and, potentially, extends the lifespan of the asset.

IoT really is the asset maintenance of the future. simPRO customer Polyteck, for instance, recently implemented the IoT to great effect. Asset maintenance is just the beginning of IoT uses in the field service industry. Now, the IoT is even being used to monitor air quality to reduce the risk of COVID-19 transmission.

Supply chain issues

Unfortunately, supply chain issues throughout the pandemic influenced the availability of those materials available for the trade and construction industries. While some materials were available, most increased in price or took a long time to arrive. To make things more difficult again, it’s a materials shortage that’s expected to take a minimum of around six months to correct.

As a result, this has spurred a trend in business owners focusing on their inventory processes and being more selective about those vendors from whom they purchase. Business owners now have to ensure they have the right amount of inventory for their jobs, but also that they find the right inventory at the best price. That being so, more and more field service business owners are turning to the use of software boasting inventory management capabilities.

For example, the features within simPRO’s inventory management solution allow the end user to track inventory changes in real-time. This prevents the possibility of running out of materials as the end user will be notified when stock levels run low. When it comes to finding the right price, end users can access supplier catalogues and compare the pricing to ensure they’re receiving the best value.

In 2022, inventory management software will empower businesses to manage supply chain issues.

Artificial Intelligence and business automation

Along with supply chain issues, the field service industry was dealt another blow by way of a significant skills shortage. The pandemic has impacted many industries, prompting workers to leave unpredictable working environments. This has led to a boost in the automation of processes and, in turn, Artificial Intelligence (AI). In fact, market analyst Gartner has identified that AI will be used by two-thirds of field service providers by 2025.

Due to the manual nature of the field service industry, the uptake of software has so far been somewhat slow. However, as already mentioned, COVID-19 has impacted this trend. Today, businesses are necessarily having to do more with less, not to mention faster and more efficiently than ever before. It’s also fair to state that manual processes are struggling to keep up.

Across the past decade, there has been an increasing trend towards the use of software and automation. This will only continue. However, AI will start to impact the industry on a larger scale in the coming years. Why? As stated in Forbes, AI takes software capability to the next level. It not only automates processes, but it can also schedule technicians by using algorithms. Further, it allows companies to compute and organise huge volumes of data which was an impossible task in days gone by.

Trade businesses will not be restricted to looking at how a project has performed retroactively. Instead, they’ll also be able to investigate the impacts of particulars on projects before they even start working on them.

AI will help field service businesses work smarter, deliver jobs ahead of time and boost profits. Forecasts suggest that AI will contribute US$15.7 trillion to the global economy by 2030.

*Discover how simPRO’s cloud-based software solution can help your security business tackle 2022 by visiting the website at www.simprogroup.com/uk