Insights Into the Future of Field Service Management in 2024

In a recent episode of Speaking of Service podcast, host Chis Wolff of PTC and guest speaker Kate Leggett, VP, Principal Analyst at Forrester, had an insightful discussion on the future of Field Service Management (FSM) unfolded with a promising outlook. The dynamic landscape of field service organizations is undergoing a transformative shift, evolving into greater revenue generators. This metamorphosis is not just a trend but a strategic imperative, with organizations recognizing the potential to turn service operations into significant revenue contributors to the bottom line.

We'll highlight some of the key takeaways in this blog; the full video episode is included below. 

Service can deepen and extend customer relationships

There is the rising recognition of investing in FSM as an effective strategy to deepen customer relationships. Organizations are increasingly realizing that beyond the traditional role of issue resolution, field service can be a powerful tool for customer engagement and revenue generation.

>>Leggett explains further at this point in the interview: Service Drives Customer Outcomes.<<

Going further, companies taking the initiative to invest in product servitization can leverage a field service management solution to create a unique opportunity that extends the customer relationship. By integrating services into their product offerings, manufacturers can establish a more profound connection with customers, fostering loyalty and satisfaction.

Service is a growth driver

The conversation also delved into the significant potential of investing in digital tools to improve service effectiveness and execution, with advancements like artificial intelligence (AI) playing a pivotal role. Technological innovations can now empower technicians to reach new heights of efficiency and performance. An illustrative example is the increasing utilization of AI in field service operations, demonstrating tangible improvements in productivity and overall performance. This trend is expected to continue, signaling a future where technology and human expertise converge seamlessly in the field.

One aspect that must be carefully managed, however, is how new technologies such as AI are presented to field technicians as part of the implementation.

>>Leggett explains how this transition needs to be carefully evaluated here: Service is a Growth Driver.<<

Service must be part of digital transformation

Looking at the theme of digital transformation, the breaking down of functional silos and the creation of an end-to-end customer experience has emerged as a viable strategy to deliver greater customer value. The notion of offering more self-service capabilities by field technicians and end users is one example of a benefit that be captured. However, this is only possible when multiple systems and data sources are shared across departments. Sharing field service data across the entire organization is a critical piece to this strategy. Removing these silos allows for a holistic approach to service delivery, enabling a more streamlined and efficient operation.

>>Leggett highlights the advantage to companies that embrace this approach here: Service Delivers Digital Transformation.<<

This collaborative ethos extends to embracing a service lifecycle management strategy, connecting service to engineering. This logical extension aligns with an organization's digital thread strategy, gaining momentum as a forward-thinking approach to aligning service operations with broader organizational goals.

Embracing change management

The interview emphasized the importance of not just embracing change but managing it effectively. The cautionary note highlighted the need for organizations to implement robust change management plans when adopting new technologies or undergoing significant transformations. Experience has shown that organizations with a strong change management plan are more likely to witness higher performance from their new initiatives. Setting expectations and managing change effectively are essential components of ensuring a smooth transition and realizing the full potential of FSM strategies.

As we look ahead to 2024, the landscape of Field Service Management is poised for unprecedented growth and innovation. The evolving role of FSM organizations as revenue generators, the strategic importance of customer relationships, and the transformative power of digital tools all contribute to a landscape that demands adaptability and forward-thinking strategies. By breaking down silos, embracing technological advancements, and effectively managing change, organizations can position themselves at the forefront of the FSM revolution, unlocking new possibilities and ensuring sustained success in the years to come.

Listen to the full Speaking of Service interview here:
• On PTC’s website: Speaking of Service Podcast Series | PTC
• On PTC’s YouTube Channel: Speaking of Service 27: Three Themes Changing Field Service - YouTube