KPIs of Service Business
A business is only as good as its customer service and the goals that it sets. A company that maintains and sets goals will see growth and appreciation. But, how do you measure your goals? Is there some sort of scale, or do we just guess? What are KPIs and why should you keep track of this?
KPIs are Key Performance Indicators. According to the online site The Balance KPIs are a “quantifiable measure a company uses to determine how well it meets the set operational and strategic goals.” So, why should KPIs be of concern for your field service management company? Well, thanks to Husky Intelligence, and our weekly updated blog, we are here to answer those questions for you.
How to keep up in the competition
Every company has goals. It is not as if one person or a group could just start a business with a hammer and some money. It is not that easy. There is so much more that goes into it.
One of the biggest factors in starting and maintaining a business is to have goals. Goals are what drive the company to progress and grow. Without goals how would you know if progress was being made? Or, better yet, how do you or your employees strive to be better when there are no goals? No goals mean no direction.
Without KPIs your company would not achieve its full potential. So, when developing goals, you must remember the four characteristics of KPIs. First, quantitative. These are presented in numerical form. Second, practical. These integrate well with current company processes. Directional, being the third, is used to assist you with determining if your company is getting better. Last, but surely not least, your KPI must be actionable.
These need to be put into practice to produce a desired change or outcome. If you have these characteristics, then you are off to a good start. But, there must be clear and correct data to emulate your business objectives.
Examples of indicators
Now, we must understand that your KPI is not the same as a company’s goal. The Balance uses a good example to describe the previous sentence: “a school may aim that all its students pass a course, but use its failure rate as a KPI to determine its position.” Makes sense. What are some other examples of KPIs? These may include customer statuses, new acquired customers, waiting time for orders, and length of stock-outs.
Intelligent indicators and learning
With Husky Intelligence we boast about our ability to automate your business process, and our customers can attest to that. So, how can automation help with KPI? Most companies have some sort of monthly progress report or review to see their numbers. These are KPIs. Unfortunately, according to research, less than a quarter of companies use a specific performance management software to manage KPIs. Automating your KPIs and “scorecards” can be extremely beneficial and profitable for your company.
5 Easy ways to make a big difference in your business.
If you’re running a Field Service Management business, let Husky Intelligence show you how to leverage SMS as we automate your business.
- Automate SMS Service Reminder Notifications to your customers
- Automate a customer loyalty SMS to trigger automatically when they schedule their next job with you.
- Better yet, if someone calls to schedule work with you for the first time, and they tell you a friend referred them to your business, automatically send the referring customer a personalized SMS to say “Thank You” right when that job is scheduled.
- Define your service parameters and automate SMS notifications to your service manager so exceptions can be addressed BEFORE they become issues.
- Set up an automated notification for route changes for your field service personnel. It will help keep everyone on track.
You’ll be amazed at the value for your Customers! And think about all the money you will save in time and aggravation it eliminates for your staff.
Come book a free personalized demo here!