Do you know where your business headed? Do you measure success by the balance in your checking account at the end of the month? That’s fine—if you only plan on being in business for one month. However, if you’re looking to see your field service company grow and compete in the long run, you’ll need to take a closer look at KPI’s.
When it comes to measuring the success of your business, KPI’s can steer you in the right direction. There are at least a dozen key performance indicators (KPIs) worth looking at, including on-site response time, contract renewal rate, field technician productivity and, of course, total revenue. To learn more about KPI’s and how to measure the success of your business, check out these tools and tricks:
The best place to start—the critical measure of your field service’s health—is customer satisfaction. And you don’t need a business analyst or higher math to get this number. Just ask! While asking will not give you definitive numerical KPI’s, understanding how your customers feel about your business is integral to shaping how you handle future interactions.
Follow up after every service call with a phone call (usually best), an email or a text. Keep it simple and have a specific goal in mind when composing your customer survey. An initial goal might be to identify weak links in your customer experience. If on-time arrival seems to be a problem, a follow-up goal, shared with your workforce, could be to have no more than two late job site arrivals a week.
Track Your Revenue KPI’s
Other KPI’s to keep a watchful eye over is total revenue. If money isn’t coming in the door, the most efficient operation in the world will not keep your business afloat. If revenue isn’t where you want it, this may be the time to zero in on pricing, market to new businesses, up-sell or even try gaining past customer referrals!
Keep up With Your Technicians
Why do we leave field technician productivity, cash flow and efficient scheduling at the bottom of this list? Certainly, healthy profits require cost-controls. If you have already implemented field management software with scheduling, bookkeeping, dispatching, GPS tracking and job-site payment functions, you have access to a wealth of information to help offer insight on KPI’s in this area. If you’re not already partnered with a field service software, RazorSync’s easy-to-use platform can help you easily manage your business online and still have time to invest in long-term growth.
Ready to find new business for your field service company with the industry’s #1-rated business management software? Try RazorSync free for 14 days to get started! For more information, contact one of our pros to learn more.