Why Asset Management Matters...This is a blog that explores the first part of the guide 'Gaining a Competitive Advantage Through the Triangle of Service'
Good service is a non-negotiable when it comes to retaining a professional relationship between client and repairer. What’s more, a good service relationship is volatile. A strong, longstanding partnership between client and technician can be fractured simply by one technical issue that’s been overlooked or by poor communication.
Our ‘Triangle of Service’ guide gives a comprehensive tour of the fundamentals of good service for electro-mechanical engineering companies. The guide outlines the three key elements
used by repair firms to manage a seamless service process and maintain exceptional client relations.
For those that missed it, here’s a bite-sized breakdown starting with the first pillar of our three-pronged approach to delivering service excellence – Asset Management.
Taking on more accountability for your customer’s assets and service schedules could be the key to retaining a relationship of trust with your customers. While the uptime and robustness of assets are a core customer focus, the service centres response to downtime can make or break a service relationship. Allowing wriggle room for reactive responses as well as proactive service schedules could give you the edge on the competition.
Keeping on top of all your customers supported assets can significantly help your teams to allow for this level of agility and improve service response times.
Assets must be maintained in abundance for you to achieve critical mass and optimise profitability, so success in control and visibility of your customer assets is absolutely crucial. That means having access to a comprehensive and robust database is a minimum requirement for you and your teams.
It’s important to remember that making the most of your technology can be the tipping point for success. The development of more innovative, intuitive solutions has meant you could benefit from tools designed to store historical data and anticipate equipment inefficiency and failure. This level of automation could have a massive impact on your resource planning and the overall efficacy of your teams.
While innovative tech can help build a highly successful foundation, it will still rely on you putting processes in place to monitor and record asset information. Ensuring you log information in a timely manner has a direct impact on business productivity and profitability. For example, bear in mind that repair history information might take a little time to reach the store. Likewise, reports suggest that missing or incorrect information on invoices or incorrect information is a primary cause of disputes and late payments. It’s crucial not to underestimate the processes you put in place for accurate and timely information recording.
This guide looks at each of the fundamental elements of the service relationship and explains how service is handled traditionally. It takes a look at established issues and challenges in the industry and how modern repair and service centre’s approach these challenges.
Analysts have stated that Industry 4.0 might be upon us. This has the potential to completely overhaul the way we interact with customers. With the power of technology, service teams have the capacity and the resources in place to evolve from emergency repair teams to analytical forecasters.
The key to this will be access to accurate data. With tools allowing precise historical or real-time sensor-based data to be made available, repair teams could utilise this to communicate more and gain an edge on their competitors.
There’s no denying that a more holistic, more efficient approach to asset management could lead to better team agility, efficiency and ultimately profit. What’s more, embracing the challenge of management over customer assets could significantly improve the trust and longevity of the repairer-client relationship.
For more details on the Triangle of Service, download the Guide now by clicking HERE, or stay tuned for the next instalment on our blog on Labour scheduling