Companion Piece to Bill Pollock’s July, 2017 Guest Blog Post on Behalf of Sprint Business (Part 1 of 2)

[This companion piece to my two-part guest Blog published in July on the Sprint Business Blogsite focuses on the impact of the Internet of Things (IoT) on the Field Services industry. As is the case in most analyst interview-based guest Blogs, much of my responses will not be included in the final posts. As such, please consider this Blog as a more detailed companion piece for the first five of 10 questions posed by Sprint Business. Hopefully, this will provide you with additional “between the lines” thoughts and opinions.]

Q1:   In what ways is IoT transforming the field service industry, and at what pace?

The Internet of Things (IoT) is transforming the field service industry in ways that most analysts –  and practitioners – could not have foreseen just a few years ago. While most of us were focusing on machine-to-machine (i.e., m2m) communications and the prospects for utilizing Augmented Reality (AR), the IoT was already beginning to be leveraged into smart systems and Connected Field Service (CFS) solutions among the more progressive services organizations in the global marketspace.

Even as we speak, while some companies are just beginning to evaluate the benefits of integrating Augmented Reality into their services operations, AR is already morphing into Mixed, or Merged, Reality (MR) through the combined deployment along with Virtual Reality (VR) applications. And this advanced trend is not only not going to stop; it is much more likely to accelerate right before our eyes.

The growing recognition that Artificial Intelligence (AI) and Machine Learning (ML) applications are ultimately poised to make the difference between those services organizations that are destined to be the market leaders versus everyone else (i.e., the followers, and laggards) is also picking up steam, and will likely join the mainstream of market adoption shortly (albeit, the inner working of AI and ML are both much more complicated than the IoT – especially with respect to AI).

The IoT is not just for m2m anymore. It is the tool that can make any services (or other) process “smart”, if applied effectively. It can (and will) take services organizations to places they never dreamed possible just a short time ago – and it will be responsible for cutting the costs of delivering services along the way.

At what pace? Basically, if you merely blink, you may find yourself quickly falling behind your more progressive competitors! Many of them are already there!

Q2:   What are the highest-impact factors in this transformation?

The highest-impact factors in field service transformation will be the normalization of the playing field across all industry segments, by vertical market, size, type, geographic coverage and any other “demographic” segments you can think of. Field Service Management (FSM) is not only for the large enterprise organizations, but for services organizations of all types, regardless of size or market coverage.

The proliferation of Cloud-based FSM solutions has also moved many organizations from the historical perpetual license pricing model to a much more manageable subscription basis pricing model. This also is having a significant impact on facilitating the entry of smaller and medium-sized organizations into the world of the IoT and smart solutions.

The integration of AR, VR and/or MR platforms into services operations will also normalize the playing field even more, thereby empowering services organizations of all types and sizes, etc., to compete head-to-head against each other (as well as the market leaders) with essentially the same levels of system capabilities. It will also lead to quicker customer equipment “fixes”, at reduced costs (to the services organization), and with far fewer visits required to the customer site to perform the repair.

Q3:   What do you see as the top three or four benefits to field service organizations?

The top benefits to field service organizations, as cited in Strategies For Growth℠’s (SFG℠’s) 2017 Field Service Management Benchmark Survey, are (1) the ability to run a more efficient field service operation by eliminating silos, etc. (cited by 44% of respondents as one of the top three benefits); (2) improved customer satisfaction (cited by 39%); (3) the ability to provide customers with an end-to-end engagement relationship (cited by 35%); (4) the ability to establish a competitive advantage (cited by 30%); and (5) improved field technician utilization and productivity (cited by 26%).

Other top benefits include (6) reduced Total Cost of Operations (TCO) (cited by 25%); (7) reduced ongoing/recurring costs of operations (cited by 19%); (8) improved service delivery time (cited by 16%); (9) fostering enhanced inter-departmental collaboration (cited by 15%); and (10) ability to complete the automation of all field service operations (cited by 12%).

However, as more and more services organizations ramp up with respect to IoT-powered technologies and applications, there will likely be even more potential benefits identified within the global services organization community.

Q4:   How can organizations best leverage all the IoT data they gather?

Many reports have been written about services organizations (and businesses of all types) “drowning in data lakes”. However, the key to success is to establish early on what data is needed to effectively run the services operations, and hone in on specifically those types of data when collecting and processing the reams and reams of data generated from your IoT-based systems. Too much data is … well, too much data, if you don’t have a plan to harvest it effectively.

Services organizations also need to be able to identify which data is “need to know” vs. which data is only “nice-to-know”. Nice-to-know data is ultimately way too expensive to collect, process, analyze, monitor and distribute; however, need-to-know data is not only invaluable – but critical to ensuring the well-being of the services organization.

You don’t go to work wearing 12 watches; you don’t buy 48 oz. of steaks, per person, to put on the grill for a summer barbecue; so, why would you pay for more data than you will ever need when you can harvest just what you need for now (plus whatever else looks like you may need in the future)?

Think of your data repository as a storage space for all of the data you will need today, tomorrow and in the future. If large enough, put it in a data lake – but make sure you don’t use Lake Superior for what a smaller data lake can do for you more efficiently.

Q5:   What barriers do organizations face in taking full advantage of IoT, and how can they overcome those barriers?

The greatest barrier in taking full advantage of the IoT is typically senior management resistance at the top of the organization structure. Coupled with a general lack of understanding of exactly what the IoT is, and exactly what it can do for the organization, these two factors can too often become “momentum-killers” within the organization.

This is why making sure that all participants comprising services management are kept up-to-date with (1) advances in IoT-based technologies, (2) the introduction of new applications and mobile tools to support field technicians (and to transfer some of their historical on-site responsibilities to more remote-based scenarios), and (3) evolutions in FSM solution capabilities, etc., is so important.

With subscription-based pricing, cost should no longer be as critical an issue to the prospects for moving forward with the desired FSM solution – however, do your CFO and Purchasing teams understand that? Or are they still entrenched in the traditional perpetual license mindset?

Attending field services trade shows and IoT-focused conferences should “shake off the cobwebs” for most of the non-believers or nay-sayers in the organization. Collect as much information as you can, schedule some demos, and invite management to witness the benefits (i.e., the outcomes) of an IoT-powered FSM solution first-hand. This will definitely sway most of the non-believers!

Hopefully, my responses have helped you to better understand the ways in which the services management market is changing – both rapidly and pervasively. Blame it on the IoT for this rapid evolution; however, blame yourself if you’re not keeping up with the advances in services management technology!

[To access the published Blogs, please visit the Sprint Blogsite at https://business.sprint.com/blog/field-services-iot-makeover/. Or, if you prefer, you may access the complete SFG℠ Analysts Take paper simply by clicking on the following Weblink: How the IoT Is Transforming the FS Industry (Draft-17-07-21-01)]

UK/Europe Field Service Organisations (FSOs) Are Closing the Performance Gap by Investing in New Technologies and Analytics

[The following is an excerpt from the Field Service News June, 2017 issue focusing on how UK/Europe Field Service Organizations are closing the historical performance gap with the United States and, in some cases, the rest of the world, by investing in new technologies and analytics. As such, please consider this Blog as a “teaser” for the full article which may be accessed via the link provided at the bottom of the page.]

Each year, Strategies For GrowthSM (SFGSM) conducts a series of Benchmark Surveys directed to the global services community. The final results of the 2017 Field Service Management (FSM) Benchmark Survey clearly reflect that UK/Europe Field Service Organisations (FSOs) are continuing their focus on addressing the top market drivers that impact their geographic marketplace – and in many cases, at a significantly higher rate than their global respondent counterparts!

Susannah Richardson, Account Director, mplsystems, concurs with these findings stating that, “We’ve seen our customers increasingly asking about what further functionality they can add into mobile applications to improve effectiveness of their field force. It’s no longer simply about field technicians being at the right place at the right time with the right parts, but also about them being empowered to excel in the service that they offer and to provide additional services.”

[To access the full, published Field Service News feature, please visit their website at http://fs-ne.ws/bV9g30cBss6.]

Companion Piece to Bill Pollock’s Field Service Experts Interview, Posted by Mobile Reach

[This companion piece to the Field Service Experts interview series posted by www.MobileReach.com focuses on “The Future of Field Service Management”. As is generally the case with interview pieces, most of the responses are not included in the published feature. As such, please consider this Blog as a more detailed companion piece that provides additional “between the lines” thoughts and opinions.]

Questions for Bill Pollock:

Q1: You’ve seen field service evolve over the years in your various roles. In what ways is field service management changing now? 

BP: I’ve seen the Field Service segment evolve several times over the years, from break/fix, to network services, to software support and such. However, the introduction of the Internet of Things, or IoT, is going to have a much greater and profound impact on the global services community than anything else that has preceded it! In fact, it already is!

For years, services managers have been talking about ways in which to reduce a “truck roll” in order to save money, and repair the customer’s equipment remotely – first, by phone, or assisted self-help; and, now, via remote diagnostics and even predictive diagnostics.

Truck rolls are not necessarily a thing of the past; however, they have greatly diminished in frequency as a result of the integration of the IoT into Field Service Management (FSM) systems.

Improvements in business analytics have also assisted field service managers in their ability to manage their entire business operations – and not just the field service aspects of the business. There are more analytical tools available now than ever before, and most managers are actively engaging their dashboards, so they can intelligently manage their field service operations.

Through the use of Augmented Reality (AR) apps, now actively being combined with Virtual Reality (VR) to form a more complex and robust “Mixed Reality” (MR) capability, we are likely to see even more advances in the types of technology that will ultimately reduce the cost of performing service – for both on-site and remote repairs – over time.

Also, with technology visionaries like Elon Musk, who started out with his Tesla business, branching into solar panels and, of course, SpaceX, we are likely to see more and more technological advances coming down the pike. For example, Musk’s new venture, Neuralink, has set its goals on attaining the ability to “merge” the power of the human brain with the power of the IoT, in order to upload and download “human thoughts” onto chips, and vice versa. Imagine the impact that new ventures like this will have on all aspects of business, if successful! All of a sudden, veteran field services technicians will become just as important as the influx of computer-savvy millennials with respect to their experiential value to the Field Service Organization (FSO).

The process goes on and on, and field service management will continue to evolve over time, as a result.

Q2: What are the strategic opportunities you’re seeing for field service organizations?

BP: The greatest strategic opportunities for FSOs will be to gain additional efficiencies as they use the IoT to power their field service operations. Of course, the converse is equally true, in that those FSOs that do not step up to the challenge will ultimately find themselves falling further and further behind the technology curve, their customers’ expectations for quality of service delivery, and their ability to compete head-to-head against not only the market leaders, but any small, medium or enterprise-sized services organization that has already embraced the new technologies.

There may still be a “wait and see” attitude toward AR, VR and MR at this time, as no single solution provider has come out with an industry-leading solution just yet. Anyone remember the decision as to whether to go with the Sony BetaMax or VHS? For many organizations, it’s the videotape wars all over again!

However, regardless of the organization’s size, vertical industry segment or geographic coverage, there are ample opportunities for ALL services organizations to take advantage of the IoT and Cloud-based FSM solutions to take their operations to the next level.

From our most recent Field Service Management Benchmark Survey Update, conducted in December/January 2017, we find that the top two drivers influencing the global services community, as cited by a majority of respondents, are (1) customer demand for quicker response time, and (2) need to improve workforce utilization and productivity. The question arises, then, “How can the services organization adequately address these two key issues without the strategic advantage of an IoT-powered FSM solution? ”The answer, of course, is increasingly. “It can’t!”

Other strategic opportunities can also come through strategic partnering with complementary technology solution providers. PTC is doing this with ServiceMax, and their respective relationships with GE Digital (ServiceMax’s parent company); and many smaller FSOs are involved in supporting partnerships with either Microsoft, for its CRM capabilities, and/or Salesforce, for its sales and marketing management tools; etc. Customers want what they want, and in most cases, they don’t care whether their primary FSM solution vendor is offering its services directly or indirectly through strategic partnerships. In fact, many customers like the fact that their FSM vendor is linked in some way to GE Digital, Microsoft, Salesforce or other industry giants.

Q3: What features in field service platforms are critical now and what will be necessary in the future?

BP: For many FSOs, a standard scheduling functionality is simply not doing the job anymore, and many have set their sights on solution providers that can offer optimized scheduling, etc. The same applies to standard business analytics vs. advanced analytics, as well as for the various components of spare parts and inventory management. In fact, what used to be “passable” in the past, now looks a little bit “dusty” and, as such, some FSOs have elected to move forward with more robust functionalities made possible through the integration of the IoT into their FSM systems.

Nowadays, legacy platforms may not be able to accommodate such new technology apps as AR, VR and MR, and, as a result, newer platforms need to be implemented to power these new capabilities. The same goes for implementing predictive diagnostics and remote diagnostics capabilities for most FSOs.

Mobility is also important, particularly with respect to real-time data collection, sharing and transmission to relevant parties within the organization. Can the organization’s existing platform handle all of these new technologies? Probably not! Therefore, newer platforms will need to be implemented, and they will need to be pretty much state-of-the-art.

Q4: What role do you see the Internet of Things playing in field service management?

BP: The Internet of Things (IoT) is becoming an integral component of ANY FSO’s desire to be able to improve its services processes, streamline its services processes, collect and share business analytic data, and serve the customer better. It’s already here!

FSOs will be greatly behind the technology curve if they do not have existing IoT-powered FSM capabilities – or at least a primary FSM solution provider that does. The IoT is quickly becoming the chief differentiator that divides those FSOs that can meet the challenges of the present, let alone the future; from those that cannot.

Without the IoT, there can be no predictive diagnostics; there could be no AR, VR or MR; there could be no chance of being able to compete directly against those FSO who do have these capabilities. Just as Cloud-based FSM solutions normalized the playing field across all services industry segments, the IoT is now doing the same – but on steroids!

In the past, falling behind the technological curve still gave the FSO an opportunity to catch up in another year or so. However, there is not that much time available for catching up anymore. Falling behind for just a few months may represent too much of a gap to make up.

The IoT allows all FSOs to keep pace with the market leaders, regardless of their size, reach or reputation, etc.

Q5: How are mobile technologies changing the way field service organizations interact with and serve customers?

BP: Mobile technologies are, of course, also of critical importance to FSOs. Without a full complement of mobility, it would be as if you’ve got all this technology “hidden” in your office, but you can’t share the benefits with your field force or customers. This is particularly true with respect to customer engagement activities and business analytics.

For example, competitors may already have the capability to generate customer contracts, invoices and other types of paperwork right at the customer site. They can obtain a customer’s signature immediately and, by doing so, eliminate much of the “float” that has been historically associated with paper-based forms management and USPS “snail” mail, etc.

Mobile technologies can also make an FSO’s business analytics capabilities much more vibrant. What good does it do to collect real-time data if you can’t share it in real time? In other words, a full-bodied mobility platform can improve any FSOs “velocity of service” by shaving off days, if not weeks, of delays and potential paper-based mistakes, etc.

Having the IoT generate data in real time, but not getting relevant data and information out to the field in real time, is a big mistake. The combination of the IoT and mobility can help FSOs avoid this opportunity cost.

Q6: How are you seeing field service organizations use mobile technologies to drive revenue and maintain a competitive advantage?

BP: The float issue is only one small component of how mobile technologies can assist in driving revenue and maintaining a competitive advantage. There are many others, as well.

However, it is important to note that, if all you’re doing is automating bad processes, then you’ll only be doing all of the wrong things faster – but not better! That’s why it’s so important to use the tools of a Cloud-based FSM solution, powered by the IoT, to improve your processes first; empower your field techs with real-time data, information and analytics; empower your customers through customer portals and self-help platforms; and generally perform all of your services activities better. Then, you can see additional benefits by doing it all faster – that is, through the functionalities of the IoT, etc.

By doing so, customers will recognize the improvements you have made and, therefore, will be more reliant on the organization for future services needs and requirements, upsells and cross-sells, etc. This will have the combined impact of reducing the cost of customer acquisition, while simultaneously increasing the existing revenue stream. Then, increases in customer satisfaction metrics can be used to promote the organization’s competitive advantage, which can also benefit from the fruits of social media coverage and word of mouth. But, it all starts with making improvements to the processes!

Q7: How can field service organizations better capitalize on sales opportunities?

BP: One area where many services organizations do not do a good enough job is in the area of contract and warranty management. It’s so simple; but it’s not “sexy” or “glitzy” enough.

However, by using an FSM solution that has a contract management and warranty management capability built into it, or by finding a reputable warranty management solution provider, an FSO can focus directly on contract attachments, contract renewals and contract management, all of which can contribute to generating not only an increased revenue stream, but one that is also a more predictable revenue stream.

The increased use of business and customer analytics can also provide the organization with increased insight into which customers may require expanded services agreement based on anything from surpassing their throughput limits for existing equipment, repetitive failures for the same problems; or to make adjustments for an expansion of the business, a recent acquisition or merger, or the increase in the number of daily shifts using the equipment; etc.  This is something that the organization’s field techs can recognize either through the customer analytics they have access to, or simply by being at the customer site on a recurring basis.

Many FSOs also do not have the expertise for upselling and/or cross-selling their existing customers. This is a critical component for any business – not just for field services. If you do not already have these capabilities, you may need a new, highly-trained salesperson, or a process for ensuring that no sales opportunity goes unrecognized.

Q8: How is the broader economy affecting field service management?

BP: The broader economy affects businesses of all types, including field services. However, field services has one thing going for it that many other industry segments don’t (i.e., particularly manufacturing and product sales) – that is, while not necessary recession-proof, businesses will always need their systems, equipment and devices to be up and running for the duration – in many cases, in spite of what it may cost to do so.

Even at reduced capacity, factories will need their production lines to continue to operate; hospitals will need their medical devices to be readily available; banks will need their transaction-related systems to run continuously; and so on. However, Business-to-Consumer, or B2C-focused services organizations may feel the full brunt of any economic downturn, as a majority of consumers may opt to wait until they can afford to have their home electronics serviced until they can better afford to pay for those services.

A broadly robust economy can stimulate increased product sales, which in turn, can stimulate increased services opportunities; conversely, a poor economy can dampen everything – including the field services segment.

However, the sign of a truly progressive services organization is one that has already taken into account the effects of a weakened economy and planned on how to best deal with a temporarily reduced workforce (through the use of a Freelance Management System, or FMS, solution); temporarily diminished service call activity; or the like. If these types of economic-influenced events occur, those FSOs that have already taken measures to address these temporary downturns can more effectively “roll with the punches”.

Q9: How is the role of Chief Service Officer evolving?

BP: The role of the Chief Service Officer (CSO) has already evolved significantly over the past several years. In many cases, today’s (and tomorrow’s) CSO must also be a Chief Data Officer (CDO) willing and able to manage the data and business analytics that drive the operations of the services business.

He or she must also be a Chief Customer Officer (CCO), once again, willing and able to interface with the customer directly when customer problems need to be escalated. As you can imagine, the role of the CSO can also be expanded to be the Chief Operations Officer (COO), Chief Business Development Officer (CBDO), Chief Social Media Officer (CSMO) and …, well, you get my gist!

The days of simply managing a staff of dispatchers, field technicians and administrative assistants are long over. From this point forward, all CSOs must also be accomplished and experienced in a much larger variety of customer-facing, analytics, business development, sales, marketing and social media functions.

Q10: What are the top three KPIs that you recommend FSM organizations focus on? How might those KPIs change five years from now?

BP:  Basically, the rule of thumb is that you should be measuring all of the metrics that focus on areas where you are underperforming, or have recognized (or suspected) problems in service delivery. For example, if your customer satisfaction ratings are lower than desired, then you will need to measure and track customer satisfaction ratings; if your on-site response time is deficient, then you will need to measure things such as on-site response, providing an Estimated Time for Arrival (ETA); etc.

There are also several Key Performance Indicators, or KPIs, that a majority of  FSOs measure, based on the results of our 2017 Field Service Management Benchmark Survey. For example, the top KPIs currently being measured by a majority of FSOs are:

  • (73%) Customer Satisfaction
  • (62%) Total Service revenue
  • (61%) Total Service Cost
  • (53%) Field Technician Utilization
  • (50%) On-site Response Time
  • (49%) First Time Fix Rate

However, it should also be noted that a majority of Best Practices FSOs (i.e., those that are attaining both 90%+ Customer Satisfaction and 30%+ Services Profitability) typically measure twice as many KPIs as the average FSOs.

Five years from now – actually, even sooner – there will also be an entirely “new” way of collecting data and reporting KPIs as a result of remote diagnostics, Augmented Reality and the growing influence of the IoT. It will be analogous to keeping two sets of books – that is, one set of KPIs, like Mean Time to Repair (MTTR), Elapsed Time from Problem Identification to Correction, etc., for the way service has historically been performed (i.e., having a field tech dispatched on site), vs. the “new” way via remote diagnostics and repair. Combining the two will not make sense, and will need to be measured, monitored and tracked separately.

[To access the published Mobile Reach feature, please visit their website at http://info.mobilereach.com/blog/field-service-expert-interview-bill-pollock.]

Market Outlook: The Impact of the Convergence of Field Service and the Internet of Things

[Excerpt from our upcoming Feature Article in the April 2017 issue of Field Service News.]

There have been myriad times in recent years when a new technology seems to control the conversation in the business world – and, particularly, in the services sector. And, field service is typically one of the first areas where customers and users catch their first glimpse and initial understanding of what each of these “new” technologies can do for the industry. However, it usually takes a while longer before they truly understand what these new technologies can do specifically for their respective organisations.

Many of these new technologies enter the mainstream of the business world – and the global services community – after some initial fanfare, trade press, blogs, tweets and white papers, etc. However, most of them will actually take years to be fully accepted and deployed via a more staggered and drawn-out basis over a lengthy period of time. For example, 10 to 15 years ago, RFIDs were all the rage, with seemingly every article and white paper talking about the potential use of RFIDs for everything from tracking parts shipments, to identifying personal items that consumers send to the dry cleaner for laundering.

The evolution of RFIDs, however, was fairly steady to the point of almost being modestly linear over the next decade and a half. But, fast forward to 2017, and Tesla Inc. founder and CEO, Elon Musk, has recently announced the formation a new company, Neuralink Corp., which The Wall Street Journal describes as a “medical research” company that plans to build technology “through which computers could merge with human brains”, essentially using embedded chips to upload and download thoughts directly from humans. In less than a couple of decades, RFIDs went from the “talk of the town”; to a backdrop of steady (albeit non-glitzy) market adoption and deployment; to a virtual science fiction-like catalyst between the technology of today and the advanced future.

That is why the introduction and accelerating proliferation of the Internet of Things (IoT) in field service is such a big deal. Because, as most industry analysts tend to agree, the projected growth path for the full integration and convergence of the IoT into the global services community – particularly in field service – are stunning!

[Watch for the complete article, including findings from SFG‘s 2017 Field Service Management Benchmark Survey, in the April 2017 issue of Field Service News. I’ll also be presenting some toppling data as part of my opening Keynote at the 2017 Field Service Summit in Coventry, UK, on April 11, 2017.]

Bill Pollock to Conduct Workshop at the 13th Annual Warranty Chain Management Conference in Tucson AZ, Tuesday, March 7, 2017

Bill Pollock, president & principal consulting analyst at Strategies For Growth℠, to conduct Workshop on the topic of “Transforming Warranty Management Into Improved Customer Satisfaction and Revenue Generation”, Tuesday, March 6, at the 2017 WCM Conference in Tucson, AZ

[Reprinted/Edited from the February 16, 2017 issue of Warranty Week]

From March 7 – 9, 2017, warranty professionals will gather in Tucson, Arizona, for the 13th annual Warranty Chain Management Conference. And as always, the opening day is taken up by a series of pre-conference workshops.

Many times, at past conferences, people arrive too late to attend any of the workshops, but wish they had. So while there’s still time for attendees to switch to an earlier flight, we wanted to provide some detail about what’s on offer.

This year, there will be six workshops — three in the morning and three in the afternoon on Tuesday, March 7. They’ll be followed by a welcome reception in the evening, and then the main conference proceeds on Wednesday and Thursday.

What these workshops provide is a deep dive into a single topic, such as transforming effective warranty management into improved customer satisfaction and the bottom line. They’re run by experts in the field, but the attendees are from all levels. And what they all know is the fundamental value of conferences like these: none of this material can be learned from books.

Bill Pollock‘s workshop is one of the three workshops scheduled for 9 AM to 12 noon, MST.

 

Raising Customer Satisfaction Levels

Pollock’s workshop is entitled, “Transforming Warranty Management Into Improved Customer Satisfaction and Revenue Generation“.

Pollock, who is a repeat presenter of WCM workshops, said he’s aiming this year’s presentation at managers and executives who need to improve customer satisfaction, drive revenues, and gain competitive advantage through improved warranty management.

“The perfect attendee would be anyone who deals both internally and externally with customer satisfaction, revenue generation, revenue management, or sales and marketing,” he said. “They’re the people who have the mandate — all their merit increases, their bonuses, are going to be dependent on how efficiently they run their part of the warranty management organization.”

Pollock said companies want to see both a contribution to the bottom line and an improvement in customer satisfaction levels. “But they’re almost diametrically opposed to one another,” he said. Deny more claims and satisfaction drops. Approve more claims and profits drop. So there has to be another way: increase revenue.

“One of the best things you can do to improve your revenue stream and to satisfy customers is to focus on warranty management, contract renewals, and attachment rates,” Pollock said. “You’re going to have increased revenues, and they’re going to be more predictable.”

Once the revenue increases, the money can be invested in automating and improving processes, which will ultimately raise customer satisfaction levels, Pollock explained. The goal is to turn a warranty claim into a more pleasant encounter for the customer, rather than adding insult on top of the injury.

“If you can’t make them feel better virtually immediately, then you’re going to allow a bad situation to get even worse,” he said. “What you need to do is build a warranty management program that can generate increased revenue, then take that revenue and spend it on improving the processes.”

Pollock said his advice is backed up by surveys he’s conducted both recently and in years past. “The first part of the workshop is going to be me presenting what best practices organizations are doing that are different from what the average organization is doing. But we also introduced some new questions into the survey this year,” he said, such as whether your organization has recently upgraded its warranty management solution. “What we’re finding is that there’s a big difference,” he said, in metrics such as claims processing time, service profitability, and supplier recovery rates.

More basically, Pollock said, the companies that recently upgraded their warranty management solutions are better not only at measuring themselves, but also at reporting the improved metrics. “Now, through more automated processes, through the cloud, powered by the Internet of things, you can build algorithms that allow you to more quickly identify than ever before, what’s really making a difference,” he said.

For more information on this workshop, or to register for the 2017 WCM Conference, please visit the conference website at: http://www.warrantyconference.com

Looking forward to seeing you in Tucson!

Bill

Strategies For Growth℠ Announces March 1, 2017 Warranty Management Webcast, to be Hosted by Tavant Technologies

Westtown, PA., February 16, 2017 – Bill Pollock, President & Principal Consulting Analyst, Strategies for Growth℠ (SFG℠), the Westtown, Pennsylvania-based research and consulting organization, today announced its upcoming Webcast entitled, “How the Right Warranty Management Solution Can Help Improve Your Organization’s Bottom Line!“, largely based on the findings from the firm’s third annual Warranty Chain Management Benchmark Survey Update.

The Webcast will be hosted by Tavant Technologies, “the world leader in providing Warranty Management Solutions”, and will be held on Wednesday, March 1, 2017, from 1:00 pm to 2:00 pm EST. A complimentary White Paper will also be available for download by Webcast registrants at that time.

According to Pollock, “The findings from Strategies For Growth℠’s 2017 Warranty Chain Management Benchmark Survey clearly reveal that services organizations that have acquired and/or upgraded their Warranty Management solutions within the past three years have begun to see significant improvements among key factors contributing to their respective bottom lines.”

“For example, since the acquisition or upgrade of their Warranty Management solutions, these organizations have realized:

  • A 9% improvement in Warranty Claims Processing Times (and are now processing their claims at a rate more than twice as fast as all others); and
  • A 6% improvement in Supplier/Vendor Recovery (as a percent of total warranty expenses).”

Led by Pollock, this Webcast will focus on the specific challenges that Warranty Management organizations are facing, the strategic actions they are taking to address those challenges, the technologies they are using, and the key drivers that are pushing them to strive toward Best Practices status. The importance of warranty analytics and the establishment of an effective Key Performance Indicator (KPI) program will also be addressed.

The Webcast is intended to provide Warranty Chain managers with the guidance they will need to build an effective Warranty Management operation that can take them to the next level with respect to increased revenue generation and improved customer satisfaction. Among the key areas to be addressed are:

  • What Best Practices Warranty Management Organizations are doing to attain the highest levels of Customer Satisfaction, Warranty Claims Processing Times and Service Profitability
  • What drives these organizations to aspire to higher levels of performance, and what challenges they are likely to be face along the way
  • How to emulate the strategic and tactical actions presently being taken and/or planned by these leading Warranty Services organizations

To register for the Webcast, simply click on the following Weblink: http://info.tavant.com/WCM_Warranty_Webinar_2017.html.

Also, please be sure to watch for more information from the SFG℠ survey results in upcoming issues of Warranty Week: http://www.warrantyweek.com.

About the Presenter

Bill Pollock is President & Principal Consulting Analyst at Strategies For GrowthSM (SFGSM), the independent research analyst and services consulting firm he founded in 1992. In 2015/2016, Bill was named “One of the Twenty Most Influential People in Field Service” by Field Service News (UK); one of Capterra’s “20 Excellent Field Service Twitter Accounts”; and one of Coresystems’ “Top 10 Field Service Influencers to Follow”. He writes monthly features for Field Service News and Field Service Digital, and is a regular contributor to Field Technologies Online and Warranty Week. Bill may be reached at +(610) 399-9717, or via email at wkp@s4growth.com. Bill’s blog is accessible @PollockOnService and via Twitter @SFGOnService.

About Tavant Technologies

Headquartered in Santa Clara, California, Tavant Technologies is a specialized software solutions and services provider that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Founded in 2000, the company employs over 2,000 people and is a recognized top employer. Tavant is the world leader in providing Warranty Management Solutions. The company offers ‘Tavant Warranty’ – a globally leading, complete service lifecycle – on premise warranty management software and, ‘Tavant Warranty On-Demand’, The only 100% native warranty management system on Salesforce. Find Tavant Technologies at www.Tavant.com, and on LinkedIn and Twitter.

Strategies For Growth Announces Launch of Its Third Annual Warranty Management Benchmark Survey Update and Workshop Session

Westtown, PA., January 19, 2017 – Bill Pollock, President & Principal Consulting Analyst, Strategies for GrowthSM (SFGSM), the Westtown, Pennsylvania-based research and consulting organization, today announced the launch of the firm’s third annual Warranty Management Benchmark Survey Update.

The survey will be running “live” through the third week of February, and a summary of the results will be presented as part of Pollock’s Pre-Conference Workshop Session at the 2017 Warranty Chain Management (WCM) Conference to be held on Tuesday, March 7, 2017, in Tucson, Arizona. The two-day WCM Conference itself will follow on March 8 – 9, 2017.

Pollock’s Workshop Session, entitled “Leveraging Effective Warranty Management into Improved Customer Satisfaction and Profitability”, will share both information and guidance based on insights derived from the data collected from the more than 100 Warranty Services professionals who are expected to take part in SFGSM‘s 2017 Warranty Management Benchmark Survey Update.

According to Pollock, who also blogs regularly via his www.PollockOnService.com Blogsite, “Research like this makes for invaluable assets that are foundational to organizational best practices with regard to warranty chain management. In this session we will share findings from our 2017 Warranty Chain Management Benchmark Survey Update that identify the top drivers, strategic actions, Key Performance Indicators (KPIs) and emerging technologies that are pushing Warranty Management Organizations to aspire to attain higher levels of performance.”

Led by Pollock, the Workshop Session will present fresh insights on the current state of the Warranty Chain Management industry, and how Best Practices services organizations are able to differentiate themselves from all others. The session will also help participants learn:

  • What Services Organizations are doing to attain Best Practices status with respect to Warranty Chain Management
  • What leading Warranty Services Organizations are doing to attain the highest levels of Customer Satisfaction and Service Profitability
  • What is driving the Warranty Services market to aspire to higher levels of performance, and what challenges they are likely to face in doing so
  • How to emulate the strategic and tactical actions presently being taken and/or planned by the leading Warranty Services organizations

To participate in SFGSM‘s 2017 Warranty Management Benchmark Survey Update, respondents may simply click on the following Weblink: https://www.surveymonkey.com/r/2017SFGWCM.

All participants that provide their name, title, company, e-mail address and phone number, will also receive a link to a complimentary copy of the Executive Summary, to be made available shortly following the WCM Conference.

For more information, or to register for Pollock’s Workshop Session, please visit the 2017 WCM Conference website at: www.warrantyconference.com.

Also, please be sure to watch for more information from the SFGSM survey results in upcoming issues of Warranty Week: www.warrantyweek.com.