By Michael Blumberg, president and CEO, Blumberg Advisory Group, www.blumberg-advisor.com
Looking for solutions beyond field service software can help fuel revenue growth.
If you are a field service executive responsible for managing a profit center, then chances are that revenue growth represents a top priority. You are not alone in this pursuit. Nearly three-quarters (76 percent) of field service providers are struggling with this same issue. Looking at KPIs associated with service revenue growth, we see that only a small percentage (30 percent) of companies are able to consistently achieve attachment rates of 50 percent or more year after year. While the majority (59.5 percent) of companies experience renewal rates of 75 percent or more, only 22.5 percent have achieved renewal rates greater than 90 percent.