Make rising prices a profit for your company

  • 01/05/2023

There is no doubt that prices have generally gone up a notch and inflation has accelerated during the past year - and that there is no immediate prospect of it falling again for the time being. But are you aware of how you can turn this situation to an advantage for your business?

Extend the life time of old machines

Just as prices naturally influence the decisions made in your company, so too are the decisions in your customers' companies affected. Where is it possible to save money? How should the money be prioritized? Are there any major investments that can wait?

When your customers cannot count on the size of the next bill, they will naturally also put other projects and investments on hold. Large investments such as the purchase of new production machines or the purchase of non-production capable machines such as the coffee machine in the canteen are de-prioritized so that money are not spent on investments, they do know when or if they can earn the money back home.

Instead of spending a lot of money to buy the new machines home, they therefore have to extend the lifetime and optimize the machines they already own. If you then e.g. have a service technician who has a number of service agreements on various coffee machines, then you can use your customers' reservations to use money to your advantage.

Take advantage of the increase need of service

When your customers need to extend the life of their current machines, regardless of whether it is the coffee machine or the large production machine, it naturally requires an increased proportion of maintenance and service visits. Of course, your customers are not interested in downtime even though the machines are older and have been used many times. Your service technicians must therefore take advantage of the situation to ensure that the correct service visits are carried out and that the visits are complied with. This partly ensures satisfied customers, because you reduce the risk of machine downtime and partly it also increases the proportion of service visits that need to be carried out, because you can constantly keep an eye on whether there is wear on the machine and parts that eventually need to be replaced. In this way, you can together discover problems on the machine before they occur.

In order to fully utilize these benefits, it is important that the Field Service solution is used actively and that it is always filled with the correct and up-to-date information. In this way, you ensure that the right customers get the right service visits planned, and that the right service and maintenance is carried out while the service technician is out with the customer.

Be one step ahead with IoT

By implementing IoT (Internet of Things) devices on the customer's machines, you can better plan the right service visits, because the devices constantly send automatic signals from the machine and alert if there are wear parts on the machine that are about to reach the critical limit value for when it must be serviced or replaced. In this way, you first of all ensure that downtime do not occur, but you also ensure that your service technicians always have the right spare parts when they are at a customer, so the problem can be solved at the first service visit.

Read more about how IoT can create value for your company by automating the service experience.

Read more about Field Service

Make the rising prices an advantage for your company, and at the same time make everyday life easier for your service technicians.

In this e-book, we guide you to choose the right Field Service solution, so you ensure that you have solution that is actively used by both service tehnicians and back office employees.

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