Profit Hunters

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Information about Profit Hunters

Published on January 13, 2009

Author: corrho

Source: slideshare.net

Description

Finding Savings Solutions
in a treacherous economy

Profits don’t just happen. Organizations today are realizing they have to delve into every aspect of their operation to discover potential savings and uncover new paths to growth. Hiding in your service operation are some of the largest opportunities for improvements in productivity, performance and bottom line profits. If you’re a profit hunter, attend our free webinar and learn how to spot the service management savings within your reach.

Single Source Educational Series: PROFIT HUNTERS Finding Savings Solutions in a Treacherous Economy A Series of Presentations.

Moderator Kevin Dudevoir VP, Channel Management Industry Trends Cory Rhodes VP, Partner Development & Advocacy Applications Brian Barbato Senior Business Solutions Consultant A Series of Presentations.

Single Source & industry role Experience… Since 1985 Expertise… Best in Class customers Resource… Aberdeen analysts seek our input first Responsibility… The service industry must be profitable for all of us to be profitable. “We’re in this together” BACKGROUND (& why we host webinars)

Single Source & industry role

Experience… Since 1985

Expertise… Best in Class customers

Resource… Aberdeen analysts seek our input first

Responsibility… The service industry must be profitable for all of us to be profitable. “We’re in this together”

We know you’re facing: - Nervous economy - Market demands, customer expectations Competitive pressure Commodization of products Moderator BACKGROUND…the need

We know you’re facing:

- Nervous economy

- Market demands, customer expectations

Competitive pressure

Commodization of products

SOLUTIONS & STRATEGY HUNT! Retain profits that are escaping Capture easy targets right at your door Identify the lurking, invisible, unknown Plan, set trap, lure the big game

HUNT!

Retain profits that are escaping

Capture easy targets right at your door

Identify the lurking, invisible, unknown

Plan, set trap, lure the big game



The Business of Service. “ Leading companies looking for profit margin, revenue, growth and competitive advantages are now crafting new business models and deploying technology solutions to more strategically leverage their service operations.” --Aberdeen’s The Emergence of the “Chief Service Officer” Benchmarking the Prominence of Service Management in the Corporate Agenda

SOLUTIONS & STRATEGY Customer dissatisfaction Low field service resolution rates. Delays due to missing parts or equipment In efficient scheduling and dispatch Miscommunications Limited access to historicals. Duplication of efforts. Dual entries. Failure to up-sell extended warranties. Low renewal rates for maintenance contracts Hunting tactic #1 Retain profits that are escaping

The Business of Service. Jack McAvoy, industry analyst, wrote in November, 2008 Analyst Insight : “ In order to reduce the impact of economic slowing, “Top firms are optimizing processes, breaking down silos of automation and embracing technologies that enable a holistic, integrated...operation in pursuit of bettering customer satisfaction and improving overall efficiency.”

The Business of Service. July 28 th Aberdeen benchmark report, survey of 150 companies indicated that in order to reduce the impact of the slowing economy they are: 47% …Scrutinizing initiatives and expenses 24%... Accelerating improvement and automation initiatives to reduce costs 11% …Aggressively marketing service as an alternative to asset replacement. 7%....Considering alternative technology model (SaaS and leasing) 7%....Passing costs back to customers 4%....Holding off major technology purchases

SOLUTIONS & STRATEGY Hunting tactic #2 Capture Easy Targets. Capture the easy, sure opportunities to improve productivity or save costs (the low hanging fruit) like: Example: Equipping field technicians with mobile devices

Hunting tactic #2

Capture Easy Targets.

Capture the easy, sure opportunities to improve productivity or save costs (the low hanging fruit) like:

Example: Equipping field technicians

with mobile devices

The Business of Service. “ Service companies are increasingly deploying mobile field service solutions to hike capacities for work orders completed per day, minimize idle and misspent clock time and build incremental service revenue streams.” Best-in-class companies reported Performance improvement from Deploying mobile field solution: 27%...Worker productivity 19%...Customer satisfaction 17%...Overall profitability 13%...Service revenues Source: Best Practices in Mobile Field Service, Aberdeen

SOLUTIONS & STRATEGY Hunting tactic #3 Spot the invisible, lurking, unknown... You may not know what opportunities are out there, where or why. Solutions: Analytics, Data, Details! … for informed decision-making and identifying opportunities for improvement. … collecting data on service orders and warranties to aid engineering in improving product design -Improve Resolution rates! … Once you have the analytics, you likely will be able to improve resolution rates, spot bottlenecks and shorten the call-to-cash cycle

Hunting tactic #3

Spot the invisible, lurking, unknown...

You may not know what opportunities are out there, where or why.

Solutions:

Analytics, Data, Details!

… for informed decision-making and identifying opportunities for improvement.

… collecting data on service orders and warranties to aid engineering in improving product design

-Improve Resolution rates!

… Once you have the analytics, you likely will be able to improve

resolution rates, spot bottlenecks and shorten the call-to-cash cycle

The Business of Service. -Rolling a truck to complete a service order costs on average $263 - 45% of jobs not completed on the first-call, require 1.5 additional dispatches. - Resolution rate directly affects workforce efficiency –therefore, savings and profit opportunities. -Resolution rates vary dramatically: Best-in-class…86% first-time fix rate Average…63% first-time fix rate Laggard…31% first-time fix rate -Within the same company, resolution rates per technician can vary greatly, -Dispatching the wrong technician (missing a certification or proper training) without the right tools and right parts can also hamper resolution rates. Source: Aberdeen Field Service Scheduling and Routing, June, 2008

SOLUTIONS & STRATEGY Hunting tactic #4 Plan for the Big Game. Some profit opportunities are long-term, requiring careful planning…like adding new revenue streams from enhanced services Multi-level service contracts (continued revenue from renewals!) Extended warranties (profit margins can be as high as 200%) Installations (opportunity to cross-sell, up-sell) Installing and servicing other like products. Point of sale

Hunting tactic #4

Plan for the Big Game.

Some profit opportunities are long-term, requiring careful planning…like adding new revenue streams from enhanced services

Multi-level service contracts (continued revenue from renewals!)

Extended warranties (profit margins can be as high as 200%)

Installations (opportunity to cross-sell, up-sell)

Installing and servicing other like products.

Point of sale

SOLUTIONS & STRATEGY

Single Source Platforms SM-Plus ERP SM-Plus for Infor ERP SyteLine SM-Plus for Sage MAS 500 SM-Plus Service Management-Plus Three platforms. Three excellent options.

Platform Focus: Infor ERP SyteLine Infor SyteLine ERP is recognized as the optimal manufacturing ERP because of its ability to manage: Shop floor scheduling Distribution Use of resources Shipping HR and CRM functions

Platform Focus: Infor ERP SyteLine Several productivity tools have been developed to integrate to SM-Plus for Infor ERP SyteLine, including: Credit Card Interface Mobile Web Tax Interface Outside Process Management Workbench Instant Order Fulfillment Request for Quote Advanced Plant Maintenance Return Material Authorization Point of Sale Executive Dashboard

Platform Focus: Sage MAS 500 SM-Plus seamlessly integrates to Sage MAS 500 to create a business solution ideally suited for small to medium distribution, manufacturing companies which sell, repair or service a high volume of products, requiring substantial accounting and business support.

Key Business Issues Responsiveness. How quickly do you respond to a Service Request? Resources. Do you have the necessary materials and technicians on hand to react quickly? - Visibility. How often is service delayed due to lack of visibility of service repair activity ? Monitoring. Do you monitor warranty contracts to maximize service revenues and identify problem areas? Analytics. Do you know what it costs to service and maintain your customers’ equipment, machines, tools, and fixtures? - Proactive. Are you proactive in up-selling contracts and renewals?

Responsiveness. How quickly do you respond to a Service Request?

Resources. Do you have the necessary materials and technicians on hand to

react quickly?

- Visibility. How often is service delayed due to lack of visibility of service repair

activity ?

Monitoring. Do you monitor warranty contracts to maximize service revenues

and identify problem areas?

Analytics. Do you know what it costs to service and maintain your customers’

equipment, machines, tools, and fixtures?

- Proactive. Are you proactive in up-selling contracts and renewals?

Call Center SM-Plus ERP

Call Center SM-Plus integrating to Infor SyteLine

Call Center SM-Plus integrating to Sage MAS 500

Service Orders SM-Plus ERP

Service Orders SM-Plus integrating to Infor SyteLine

Service Orders SM-Plus integrating to Sage MAS 500

Analytics SM-Plus ERP

Analytics SM-Plus integrating to Infor SyteLine

Analytics SM-Plus integrating to Sage MAS 500

Schedule Board SM-Plus integrating to Sage MAS 500

Schedule Board SM-Plus ERP

Schedule Board SM-Plus integrating to Infor SyteLine

Mobile SM-Plus ERP

Mobile SM-Plus integrating to Infor SyteLine

Mobile SM-Plus integrating to Sage MAS 500

Recap Improved Efficiency Higher Productivity Increased profits Enhanced customer loyalty

Recap Single Source Service Management-Plus (SM-Plus) helps companies gain efficiencies, improve savings, drive profits and enhance customer loyalty by managing: Call center Service history Work orders Schedule/dispatch Parts inventory Field service Plant maintenance Service contracts Depot repair Analytics

Single Source Service Management-Plus (SM-Plus)

helps companies gain efficiencies, improve savings, drive profits and enhance customer loyalty by managing:

Call center

Service history

Work orders

Schedule/dispatch

Parts inventory

Field service

Plant maintenance

Service contracts

Depot repair

Analytics

A Q &

Visit the Single Source website for additional information: www.singlesrc.com Next Steps?

Moderator Kevin Dudevoir VP, Channel Management Industry Trends Cory Rhodes VP, Partner Development & Advocacy Applications Brian Barbato Senior Business Solutions Consultant A Series of Presentations.

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