Read this guide (or download a shareable PDF) to learn the importance of KPI tracking for service companies. And understand the value of using remote visual assistance software. These are key metrics every service company should track for optimal data-driven decision making that supports core business objectives.
Determining your Key Performance Indicators (KPIs) is essential for making smart, intentional business decisions. They can help prove that your company is meeting business objectives. When onboarding a new technology, companies must establish how the technology can support current KPIs. They can then explore the potential for new KPIs, determining those that support a strong Return on Investment (ROI).
Remote visual assistance offers enormous ROI and delivers measurable cost savings alongside increased employee and customer satisfaction. It can be a valuable part of your digital transformation in field service. And it’s time for service companies to adopt remote visual assistance software. Added into standard operations, the results prove that this technology is becoming necessary. KPI tracking for service companies is critical – especially those moving from being a cost center to a profit center.
Examples of KPI Tracking for Service Companies
Examples of KPI tracking for service companies include many important metrics. Each of these can be improved by remote visual assistance. They are:
- First Time Fix Rate (FTFR)
- Mean Time to Repair (MTTR)
- Contract Attach Rate
- Net Promoter Score (NPS)
- Technician Utilization
Additionally, when using remote visual assistance, companies have new impactful KPIs to track, such as Remote Resolution Rate (RRR). Read about how utilities focus on first time fix rate.
In this guide, learn how remote visual assistance supports some of the service industry’s leading KPIs to deliver on ROI. We also offer some new ideas to support KPI tracking for service companies. Especially when they are integrating remote visual assistance into their tech stack.
A Quick Primer on Remote Visual Assistance
Remote visual assistance provides a collaborative environment via mobile device and/or web browser. This allows a company’s experts to provide support to customers and field techs from anywhere in the world.
The interactive capabilities of remote visual assistance go well beyond a video or audio call. It enables users on both sides of the screen to interact as if they were working side by side.
An Example of Remote Visual Assistance in Action
The reality of remote visual assistance can be difficult to conceptualize. So here’s one very basic example illustrating a common scenario.
Joe is the field service technician for an HVAC company and is fairly new to the job. He arrives at a customer’s home to repair a malfunctioning air conditioning unit. As he gets to work, he realizes he cannot find the source of the problem.
Introducing Help Lightning
Joe could call dispatch to find someone who can come and assist him. Instead, Joe pulls out his phone and calls Ben through the Help Lightning app. Ben is a senior technician with decades of experience, and helped train Joe. Ben’s on another job, but can easily show Joe what to do using the app.
Joe and Ben both look at the air conditioning unit through the Help Lightning app. Ben points to the spot on the unit that is the likely source of the problem. Joe sees Ben’s hand in his screen pointing to each component. And he can explain what they do as if Ben were right there next to him.
Ben (with Remote Visual Assistance) to the Rescue
Ben shows Joe how to fix the problem and oversees Joe as he fixes the unit step by step. He can offer suggestions in real time if Joe does something wrong. The problem is resolved in about 30 minutes, without requiring another technician to travel and help Joe out. As far as the customer knows, their problem was solved quickly and easily.
This interactive collaboration is made possible by remote visual assistance so that technicians can work together anytime, anywhere.
How Are Companies Using Remote Visual Assistance?
How is KPI tracking for service companies supported by technology?
The goal of many service companies is to make healthy profits while providing reliable, efficient service. And at the same time, delivering on employee and customer satisfaction objectives. Remote visual assistance supports these goals. Technicians and engineers can greatly expand their availability and continue offering high quality service. Reviewing remote technology options? Download this helpful remote assistance software buyer’s guide.
Benefits of the Virtual Technician and Touchless Service
Service companies that use remote visual assistance can expect the following benefits.
Remote Collaboration from Anywhere
When using remote visual assistance, technicians are able to collaborate with each other and their customers. This is true even when they cannot physically be onsite. This translates to immediate access to information and the documentation they need for repairs, installations, and troubleshooting.
Reduction in Cost Associated with Onsite Support
The ability to effectively collaborate remotely greatly reduces the costs of having to send technicians to a job site. Technicians no longer have to drive hours to reach customers, and fewer technicians are required to get work done.
A Solution for the Skilled Labor Shortage
The service industry has long been suffering the effects of a labor shortage, as skilled laborers start to retire. Remote visual assistance helps close the knowledge gap. It enables retired technicians and engineers to continue working and training without visiting job sites.
Effective Remote Training
People learn better by doing than by seeing. Technicians can use remote visual assistance to learn from instructors even when they are not on site together. Additionally, trainers are able to reach multiple job sites at one time, reducing travel time and the related expenses.
Remote Visual Assistance and COVID-19
The COVID-19 pandemic has been highly disruptive for most business sectors. Requirements for distancing and quarantines combined with travel restrictions made it challenging year. Especially for service companies providing essential services while keeping employees and customers safe.
In-person service is not always an option, and the pandemic has made it even more challenging. Remote visual assistance makes it possible to reduce the number of onsite technicians. It also provides needed services without ever having to cross a customer’s threshold.
The Impact of Remote Visual Assistance Technology on KPIs
Depending on your business, some of the KPIs listed below will be more important than others. Be sure to track the KPIs that matter to your business and will move you toward business objectives.
First Time Fix Rate (FTFR)
FTFR is one of the most commonly tracked KPIs in the service industry. After implementing Help Lightning, our customers are seeing a 20% FTFR improvement on average. You can use the app prior to onsite visits or to call in visual support from coworkers. This boosts the likelihood that the Field Service Engineer will be able to fix the problem the first time. Technicians and engineers arrive onsite knowing the nature of the problem and prepared with the right tools and parts.
Mean Time to Repair (MTTR)
Being on many sites at one time and to troubleshoot before arriving in person helps boost efficiency and productivity. Help Lightning users have seen a 30% improvement on resolution rate on average. Remote visual assistance allows technicians to see problems in real time and before arriving onsite. This translates to an ability to to provide fast and targeted service. MTTR can also be used for service and installation efficiency.
Contract Attach Rate
Service contracts between the customer and service provider are one of the key ways companies boost recurring revenue and profitability. The percentage of new service contracts increases when customers receive top notch service.
When engaging with a service provider, customers generally want and expect a quick response, fast and complete resolution. And they want their experience to be as painless as possible. Remote visual assistance makes it easier to deliver fast and effective service. This results in customers who are happy and more likely to agree to an ongoing service contract.
Net Promoter Score (NPS)
As shown in the points above, remote visual assistance helps service companies provide service more effectively and efficiently. Many companies survey customers after providing service. If your does, you’re likely to see your scores improve after onboarding remote visual assistance technology. Additionally, happy customers are more likely to recommend your service to friends and family.
Technician Utilization
Productivity is of course one of the most important measures of any service organization. Remote visual assistance software allows call centers to take more calls and view the specifics of what each job requires. Technicians can be dispatched either in person or virtually to help resolve issues, and install or repair equipment. This increases the time technicians are able to be doing active work. It reduces time waiting for more information, backup support, or requiring trips to pick up missing components.
New Modern KPI Tracking for Service Companies
Adopting new technology as part of your organization introduces new KPI tracking for service companies. These can now be measured as you expand your capabilities and the services you offer your customers.
Remote Resolution Rate (RRR)
Remote visual assistance enables service organizations to reduce dispatches, sometimes up to 50%, and eliminate no-fault-found service visits. It’s clear that no-fault-found visits have an impact on other KPIs, such as the Net Promoter Score and technician utilization.
Higher remote resolution rates translate to technicians spending no time or less time on customer sites. And offers them an ability to effectively problem solve from anywhere. Technicians are able service more clients and be more productive when they spend less time traveling from site to site.
Time to Remote Resolution (TRR)
As RRR becomes part of KPI tracking for service organizations, so will Time to Remote Resolution (TRR). Remote visual assistance will continue to improve service efficiencies. And virtual technicians and engineers will be able to provide high quality service, faster. This technology will continue to improve over time, and with it, TRR will as well.
Customer Experience (CX)
Customer Experience (CX) has been a buzzword in recent years, taking on new importance as companies increasingly adopt digital transformations. Providing customers with positive experiences translates to high Net Promoter Scores, increased referral rates, and repeat customers. By helping meet KPIs like FTFR and MTTR, remote visual assistance reduces friction and offers customers a great experience.
Helping to Improve KPI Tracking for Service Companies
Do these KPIs sound familiar? Have we introduced new KPIs that would be worthwhile to track for your organization? Either way, remote visual assistance can be a big help. Visual technicians and engineers are becoming increasingly important. They will ultimately become ubiquitous across the service industry, and critical for every service organization’s delivery model. Read also about remote assistance software ROI.
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