New Research from Field Service News and ServiceMax Finds Data-Driven Digital Transformation Prevalent Among Field Service Organizations, But Data Gaps Inhibit Servitization and Performance Gains
Report Shows Digital Transformation in Full Swing, Yet More Than Half Admit They Are Still Not Using Data
PLEASANTON, Calif., May 5, 2022 /PRNewswire/ -- While the field service industry has firmly grasped digital transformation and data-driven approaches to service design and delivery, limited systems of record continue to restrict the effective use of the asset data gathered, according to new research conducted by Field Service News (FSN) and supported by ServiceMax, a leader in asset-centric field service management software. However, the study showed that, amongst those organizations where data is being shared across the business units, there is a greater likelihood of cross-department collaboration, development of servitization and improved performance.
The global benchmarking report, The Impact of Asset Data Flow Beyond the Silo of Field Service Operations, was developed through interviews with over 230 field service leaders from a variety of different industry verticals including manufacturing, utilities, telecommunications, power generation, healthcare, med-tech, security and many others. The core focus was to understand how prevalent the sharing and use of asset data (data that has deep and rich value for the entire business) is within servic organizations, or whether the data remains within a silo of operations. In addition, FSN explored whether the movement of data across an organization is a significant factor in enabling greater cross-department collaboration, which is an indicator of an organization's appetite and capability to adopt servitization.
"While digital transformation is well underway across our industry, the truth still holds that, no matter how sophisticated the tools we use are, they remain merely an enabler for service transformation," said Mark Wilding, VP of Global Customer Transformation at ServiceMax. "Those who work to break down barriers and promote each department working together toward a collective, data-driven goal can drive servitization and outcome-based solutions, among other significant business benefits."
The study findings revealed several key trends and correlations, including:
"We are living in a time when data underpins all aspects of excellence within a service-centric organization, yet often the ability to take meaningful and actionable insights from the data available remains a challenge," said Kris Odland, Editor-in-Chief from Field Service News. "Modern systems and processes are more important than ever before, as they can help facilitate integration and collaboration for those organizations willing to rethink the status quo. We look forward to soon completing the final phase of this study that will combine qualitative insights with the quantitative benchmark data from this study to provide the big picture."
The full FSN benchmark report can be accessed here.
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