This is part five and the final trend in our five-part series outlining the top trends in the field service market. Our fifth and final top trend shows how dealers who are modernizing their operations are enabling a connected experience with their customers.
The equipment dealer industry is experiencing several trends which will continue to drive the need for dealers to modernize their business and operational systems, and enable a more connected experience with their customers. Further, as the equipment rental industry continues to expand, investments in optimizing the workflow will provide significant cost and operational savings.
When assessing equipment dealers it is often helpful to organize them into different channels as there can be significant differences in how they do business and what their revenue strategy is. Dealers who represent a single manufacturer have different needs and challenges to those that represent multiple brands. Further, the impact of the rental business on their business can vary considerably.
While most manufacturers and their dealers are aware of the opportunities for growth in aftermarket parts and service, many struggle to capitalize on this opportunity since it requires processes that enable collaboration and system alignment with both their customers and the OEMs they represent. Old and out-dated technology is a real impediment to enabling this growth.