The technology used within the field service industry is ripe for change. For instance, many field workers are frustrated by the lack of information available while in the field. And those in the C-suite are unaware of how improved decision making will result in increased growth.
By leveraging the industrial internet of things (IIoT), you can eliminate these shortcomings and many others to move your business forward.
How to Leverage IIoT for the Field Service Industry
In its most basic form, the internet of things (IoT) refers to everything that’s connected to the internet and how they communicate together. IIoT refers to the use of IoT to connect machines, applications, devices and processes within the industrial sector.
In the field service industry, there are many moving parts. From vehicles to service technicians, many assets must be protected and managed daily. With IIoT, asset management isn’t only simplified, but it is a tool that can help you:
- Understand real time operations without needing to talk to anyone
- Present more competitive offerings for customers
- Change your pricing model
- Operate your business at scale with less effort
- Gain more market share
Here are a few of the key benefits of IIoT for the field service industry.
1. Predictive Maintenance
Many companies continue to perform maintenance only when asset issues occur. Unfortunately, this results in costly downtime. Unplanned downtime can cost manufacturers $50 billion annually.
Instead of performing reactive maintenance, IIoT enables you to perform predictive maintenance. Sensors placed on each asset allow you to collect key data regarding the asset’s usage. With this data, you’re able to discover and manage potential issues before they bring business to a halt and directly impact profitability.
Predictive maintenance solutions also send alerts to communicate any major differences in the incoming data, saving you and your field technicians critical time.
2. Real-Time Data & Analytics
Successful IIoT practices require the management of large amounts of data. In fact, IIoT sensors and devices can obtain gigabytes of data in a matter of hours.
IIoT is the perfect companion to artificial intelligence (AI) and many IIoT tools include both. Through the combination of IIoT and AI, companies can uncover real-time insights to make better business decisions.
For example, data can help you identify which of your assets are producing revenue. With these insights, you can determine whether you should liquidate or further invest, improving your bottom line.
There are plenty of other benefits to using real-time data. For example, data can help predict asset failure, locate missing assets and automate internal processes quickly. As a result, your team can rapidly decide how to handle each situation to ensure optimum uptime.
3. Full Process Automation
Repetitive tasks eat away at the time you could spend on higher-value tasks that move the business needle. Plus, clerical mistakes from data entry, poor team communication and subpar asset management all lead to a constant leak of cash.
Through IIoT, you can save time and money by automating your entire process. For example, your equipment can automatically schedule non-critical maintenance for the earliest availability. And through integrations, you can automate the process of checking to see if equipment parts are in stock and ordering replacements.
With the extra time you save by reducing these repetitive tasks, your team can focus on finding better ways to serve your customers such as better pricing models and improved visibility of asset data when equipment is rented.
4. Financial Control
The longer your billing process, the harder it is to collect the money owed to you. IIoT helps you fight back against inadequate financial control through automated invoicing and work order processing.
Sensors enable you to accurately bill based on asset usage. Your clients can see exactly what they’re being charged for which increases billing transparency.
With IIoT, you’ll experience faster invoice creation, improved cash flow and reduced days sales outstanding (DSO).
How VistaVu Can Help You Take Advantage of IIoT
Take advantage of IIoT Technology and get your systems talking. VistaVu Solutions is your partner in IIoT. We work with customers everyday to provide innovative solutions tailored to their specific business needs.
FieldVu: Field Service Management Software for Your Growing Business
VistaVu’s software solution, FieldVu, uses IIoT, Cloud, and mobile technology to help you manage and automate your field service operations using one single system. From decreasing downtime to delivering improved services to your customers, our solution streamlines the tasks required to grow your business.
FieldVu has helped companies input and process 10+ million tickets accurately. Plus, companies using FieldVu have seen 50% growth in business without adding additional staff, while still saving 20 hours per employee per month. How does it work?
- Enhanced visibility: FieldVu leverages IIoT to help you gain critical visibility into asset usage. As a result, you can decrease downtime and improve your bottom line.
- Automated billing and dispatch: Your entire process, from dispatch to final payment, can be automated through FieldVu. This saves you time while eliminating costly errors.
- Easy mobility: FieldVu eliminates the need for tracking jobs on antiquated programs or using manual and paper processes. FieldVu Mobile enables field workers and supervisors to input tickets and data quickly and easily via their mobile devices.
- Streamlined back-office: FieldVu also offers a robust back-office management system that eliminates spreadsheets or inadequate software. Plus, it reduces data re-entry and provides faster invoice creation to save you time and cash.
Reach Out to VistaVu Solutions Today
Want to take advantage of the benefits of IIoT? The experts at VistaVu Solutions can help. For more information about FieldVu, reach out to our team today or read more about how IIoT can help your business.
About the AuthorFollow on Linkedin More Content by Chris Brooks, VP Product Development