Macro-Economic and Global Demographic Shifts To Disrupt Field Service Monday 17 November 2014 PDF Print The “swelling middle” is growing and moving East. Vanessa Land, Devonshire Marketing Service Organisations Have Urgent Need to Formally Capture Knowledge of Senior Technicians LONDON, UK – 17 November 2014 – Macro-economic and global demographic shifts are set to significantly disrupt the field service industry, creating opportunities for growth and transformation, according to leading field service management specialist, ServiceMax. By 2030, the global middle class is expected to double. The European and American middle classes are expected to shrink to just twenty two per cent of the population (down from fifty per cent), while Asia will host sixty four percent of the global middles class, and account for forty per cent of middle class consumption. The “swelling middle” is growing and moving East. Compounding these changes is the on-going skills shortage for STEM skills. With forty per cent of engineering and skill positions held by employees over the age of forty, sixty per cent of companies understaffed in technical and highly skilled positions and demand for technical and engineering skills expected to grow twice that of other professions by 2025, the field service industry has a looming talent problem. “Service organisations have an urgent need to formally capture the valuable knowledge held in the heads of their most senior and experienced technicians, as well as mentor and train younger colleagues,” said Spencer Earp, Vice President EMEA for ServiceMax. “With Millennials poised to dominate the workforce by 2020, considerations around their shorter attention span, digitally fluency, and differences in how they collaborate, learn and communicate need to be reflected in the modern tools and technologies they use at work. The implications on service - particularly if you are serving global customers - and future service strategies in the context of labour shortage and major demographic skews are set to redefine how field service is delivered. We believe the market disruption offers enormous opportunities for service organisations to transform their businesses and capitalise on the changes.” Automation and connectivity are also expanding. With the Internet of Things and the connected enterprise, machines are going to generate a lot of data. Field service is one of the best places for Big Data to be applied to take what is currently a reactive kind of industry to a more predictive one. With the desire for companies to be better connected to customers, there is an immense goldmine of value for both marketing department and the product R&D department to understand what’s going on, be able to track everything ever sold through a system of record, and know what’s happened to those products. By empowering and mobilising service technicians with cloud-based, real time tools in the field they can do work-orders, request parts, schedule and be scheduled, look up manuals, take payments, renew maintenance agreements, use social channels to communicate problems swiftly and effectively and upsell and cross sell products and solutions where appropriate. All of this is done on a smartphone or tablet device. All the data is real-time. Technicians also have the option of working off-line and then synching up to reduce dead time administration at the end of a job. Customer relationship management systems pick up the information and ensure that the customer receives future communications, advice, updates and education, while the data delivers new customer and business insights. About ServiceMax There are more than twenty million field service technicians around the globe, yet today there’s no standard technology for managing the way companies of all types and stripes empower them to truly delight their customers in the field. ServiceMax is rethinking field service and delivering on the promise of cloud and mobile software, powering a new era of field service experiences for their customers’ customers. The impact of ServiceMax is simple: lower costs, greater efficiency, happier customers; all while increasing revenue. ServiceMax has helped customers on average increase productivity through mobile by 26 per cent, service revenue by 22 per cent, and customer satisfaction by 15 per cent. ServiceMax customers include large enterprises such as Tyco, Coca-Cola Enterprises, and Elekta, and smaller businesses like McKinley Equipment and Kinetico. Based in Pleasanton, California, they are a company of innovators, thinkers and doers who care passionately about changing the world of field service. To learn more, please visit www.servicemax.com PR Contact: Vanessa Land Devonshire Marketing Consultants Tel: +44 (0)7768 6693779 Email: email@example.com SOURCE: ServiceMax This press release was distributed by ResponseSource Press Release Wire on behalf of Devonshire Marketing in the following categories: Business & Finance, Medical & Pharmaceutical, Manufacturing, Engineering & Energy, Computing & Telecoms, Transport & Logistics, Construction & Property, for more information visit http://pressreleasewire.responsesource.com/about.