According to research firm Stratistics MRC, the field service management (FSM) market will be worth $4.45 billion by 2022. Increasing customer expectations, surging demand for enhanced productivity and the rise of service operation costs are considered primary drivers behind this projection. What’s more, Gartner (registration required) estimated that within the next three years, more than 60% of field service organizations will implement in-field mobile applications. Field service technicians will use these applications to drive profitability, customer contentment and employee productivity. Although this suggests a positive outlook for the FSM market, there’s a problem with the traditional service delivery model that needs to be addressed before we can look forward.
Many of us are familiar with this disheartening process: Something breaks, be it your router, dishwasher or smart speaker/home assistant. You call the manufacturer to place a service request, but the operator lets you know the technician isn’t available for at least several days. When the technician is available, it’s a time slot within a restrictive four-hour window. This customer frustration is unfortunately very common, and field service technicians are suffering because of it.
Furthermore, the growing adoption of the Internet of Things (IoT) and connected devices has led to a massive spike in expectations for real-time customer service for both consumers and enterprises alike. Nowadays there is a wide range of everyday household devices that are now connected in some way to the IoT, and this IoT connectivity notifies users as soon as a device needs maintenance or repair. Field service companies of varying sizes across multiple industries are increasingly struggling to maintain an employee workforce robust enough to handle the heightened demand. As a result, organizations are reconsidering their service delivery procedures.
But what if the field service industry were to adopt an entirely new delivery model that could shift the balance of technology versus technicians back to normal?
A survey conducted by McKinsey determined that upwards of 162 million people were working as freelancers across the United States and the European Union. This growing ecosystem of freelancers engaged in short-term contracts by companies can also be called the “gig economy,” “sharing economy” or “collaborative economy.” With the industry shift to a gig workforce, what started out as ride and apartment sharing is expanding into many other business sectors -- including field service.
In the field service industry, for-hire service technicians can connect to organizations that need extra workers for their teams. By offering new workforce strategies that focus on independent contractors who can govern their own work schedule and offer expertise in specific industries, the gig economy can play an important role in the future of industries that are in need of workers with specific skill sets, such as field service management.
Looking ahead, enterprises need to prioritize the adoption of solutions that allow them to keep pace with the growing IoT and the direction in which it’s taking us. Customer experience is a crucial aspect of the field service industry, and by rethinking workforce resources and supporting technologies, companies will be able to keep up with the real-time response that will only become more important (and expected) in the current, connected age of the IoT. No longer will you have to wait hours for a technician to come over to fix your smart TV. By taking advantage of the gig economy, long wait times and poor customer service will mercifully be a thing of the past.
FSM software has the potential to revolutionize the service industry with advancements like crowdsourced field service and real-time customer service. Clearly, FSM has a lot to offer to organizations looking to streamline their operations for tangible business growth. For a more detailed overview of the primary players in the FSM software space, I suggest reviewing Gartner’s most recent Magic Quadrant for Field Service Management here.
