Don’t let rising costs leave you running on empty – 5 ways your field service business can fight back
14th April 2022 - The new financial year brings yet more new costs to field service businesses across the UK… National Insurance rises, increasing fuel costs, rocketing energy prices and Covid loan repayments.
But there are ways of fighting back. Here are five tips to cut outgoings and boost income as costs rise:
1. Make every hour count
The financial gain for every hour saved travelling is massive. £15 in travel costs + £60 for an hour of your engineer’s time = £75 per hour. A digital Scheduling Assistant gets the right engineer, with the right skills, to the right place, by the right route. The potential savings are huge. One hour saved more than covers the cost of the technology that delivers it.
2. Compete on customer service, not just cost
70% of customers would pay more for better service and more convenience, according to a recent survey. That means online portals where they can book jobs 24/7. It means Uber-style arrival updates. And it means instant digital invoicing and a range of easy payment options. The technology to bring these in is probably cheaper than you’d expect.
3. Make sure your work is profitable
Too many jobs at field service businesses end up costing the firm money. Companies need to be sure that they’re covering costs and making a fair margin. With a job management platform, you get a clear view of the profit margin on each job. No more guesswork when quoting, and no more jobs that leave you out of pocket.
4. Cut mileage
Fuel prices for fleets are staggering – and likely to go higher. £2 a litre is widely predicted. Smart scheduling and route planning cut mileage by 10%. Many field service workers do 1,000 miles a month, and their annual saving would be £232 – almost enough on its own to offset the National Insurance hike. Integrated vehicle tracking also leads to better driver behaviour, saving not only fuel costs, but also lives!
5. Do it once, do it right
First-time fixes mean big cost savings. Having to go back to jobs wastes fuel and staff time, whether that’s back-office dealing with queries or frontline teams doing the work. The essentials for a first-time fix are getting the person to the job, with the tools, materials and information to take care of it.
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