MAY’S READING: FIELD SERVICES RACES TOWARD DIGITAL
As digitization matures - respondents in a recent A.T. Kearney study rated it the top disruptor across industries - old boundaries are being tested and surpassed, and what once set companies apart doesn’t even turn heads today.
“By 2020 more than half of revenues will be funneled through digital channels, or driven by digital products and services - or both,” one CEO participant in the A.T. Kearney study stated. “We are all digital companies now.”
Field-service retailers and others companies that deliver the products and services that people use every day - from packages, consumer goods, and groceries to maintenance and repairs - are at the forefront of this digital change, underlined the authors of the study. These companies have to have the speed to plan, act, and react quickly, and the endurance to perform for a long period of time. Meanwhile, digitally savvy customers are using new channels to obtain information, want tailored and mistake-free encounters, and demand fast resolution when errors do occur.
How are the forward-thinking companies meeting these demands in field services? By riding the digital wave to master logistics, customer service, pricing, order management, forecasting, and delivery - to deliver products and services when, where, and how their customers want it.
A.T. Kearney’s team experience in the retail gas industry shows just how much value field-service operations can gain from digitization. Some companies uncover as much as USD 20 million in annual cost savings by adopting new digital approaches, insight-enriched customer relationships, and advanced data analytics. The impact included:
- Improved routing and remote monitoring technology, which allowed the company to deliver 40 percent more deliveries per mile;
- An additional 30 hours per week freed up for customer service agents, additional time that can be used for more valuable sales activities;
- The elimination of billing errors, boosting customer satisfaction.
With that company’s experience as a guide, A.T. Kearney study reveals how digitized field-service operations brings more value to both customers and shareholders, and how transforming delivery and service business models can fuel long-term growth and create strategic flexibility.
For more information, see Reaching Your Digital Full Potential and Answering the Digital and Analytics Talent Gap: The New “Trilinguals” at www.atkearney.com