When technology companies need to grow their revenue and profits, they come to TSIA. We provide our members with the relevant industry research, business frameworks, and benchmarking they need to optimize their service businesses, overcome top challenges, and achieve their goals. To share an example of what you can accomplish with a TSIA membership, here's a case study of how we helped one of our members within the industrial equipment industry improve customer adoption of their technology with their existing field services team.

The Business Challenge

The field service organization within this industrial equipment company was tasked with reducing costs and increasing services revenue. They often bundled in premium contracts at no incremental cost to capture product sale or install. They also struggled with their gross margin being off target by 30%, as well as a low services revenue growth at only 5%. Additionally, the company's field service utilization was at 62%, with this low customer density resulting in 1.3 hours of travel time per incident

TSIA Recommendations and Resources Used to Solve This Challenge

By becoming a TSIA member, they immediately gained access to hundreds of resources aimed at solving top field services issues and received a plan of action to overcome their specific challenges. Here are the TSIA resources and recommendations they used to achieve their objectives.  

TSIA Benchmark Program

TSIA's benchmark programs are the most comprehensive the technology services industry has to offer. They allow us to help our members better understand how their business practices and outcomes stack up against their peers and the industry as a whole. By completing TSIA's Field Services benchmark, this member was able to measure their current performance and accurately identify their areas of weakness.

TSIA Research

TSIA provides non-biased research that covers all facets within a designated service area, identifying the greatest opportunities for improvement. With the help of our team of full-time researchers, all of whom are former service practitioners, this member received the most recent in relevant research on:

  • Field service workforce optimization and productivity.
  • Creating differentiated offers to increase customer value.
  • The outcome-based services portfolio.
  • The impact of B4B on field services.

The Resulting Outcomes

By leveraging TSIA's research and recommendations for streamlining their operation, this member saw the following results:

  • Increased their gross profit by $4.6 million.
  • Their gross margin improved by 1.3 percentage points.
  • Field service utilization increased to 70% and experienced an annual services revenue growth of over 6% (versus their original 5%).
  • They maintained high renewal rates and transactional customer satisfaction scores.

Join Our Growing Community of Over 35,000 Service Executives

Industrial equipment isn't the only industry we serve. Our community of more than 35,000 individual service executives spans across all areas of tech, including hardware, software, and cloud-based businesses. TSIA membership includes a rich set of programs, services, resources, events, and peer learning opportunities that empower service leaders and their organizations to better manage their business. How can TSIA help you solve your biggest business challenges? Talk with us today for a free membership briefing.

 
 
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