Without a system in place to facilitate communication between the field, back office, and your billing department, cash will flow out of a business just as quickly as it flows in. This lost income, or “leakage” will undermine efforts to grow your organization’s service revenues. With the right tools to automate, organize, and expose contract details, you will reduce leakage while increasing revenue and customer satisfaction. Here are some helpful tips:
1. Set up expiring maintenance contracts
Alerts can be set up to automatically email anyone in the company (or even customers) when contracts are about to expire. This way, you know well in advance when to start working on a contract renewal so that an existing contract never falls through the cracks.
2. Track inventory for service contracts
Hard to find or expensive parts might be required for certain preventative maintenance or regularly scheduled visits. These can be part of the setup of the maintenance contracts. You can also add automatic alerts to notify the right people when to order the right parts for each regularly scheduled visit so they are ready for each job at the time it is scheduled.
3. Set up automated email campaigns and workflows to sell contracts
Sales people and customers can be automatically notified when a customer is not under contract but could be. You can also set up email campaigns and workflow automation to automatically contact customers, encouraging them to sign up for service contracts.
4. Keep technicians informed
Techs can stay informed with up-to-date warranty, equipment, customer, and service contract information. This will make sure there is no more free service and unpaid parts.
5. Use contract profitability alerts
Get automatic email notifications or dashboard views when contracts aren’t hitting the profit benchmark you set for your company.
Preventive maintenance and service contracts are the most profitable source of revenue for field service companies. Businesses that perform preventive maintenance out-earn companies that don’t. Give your technicians and office employees the tools they need to sell, renew, and manage contracts. Don’t miss out on revenue that is already in your pocket.
For more information on how you can automate your maintenance and service contracts, contact us here.