Business reviews: Using data to inform better business decisions

Field Nation is much more than just a platform. We’re a partner in your growth. A resource to help you leverage the contingent workforce, adapt to a constantly changing market, and make the best decisions possible as you work toward your long-term goals.

Field Nation’s business reviews

A business review is a key part of our relationship with our customers. It’s so easy to get bogged down in the details of your day-to-day business. Business reviews are an opportunity for your executive leaders and operations teams to come together with Field Nation and take a strategic, birds-eye look at your operations, challenges, and goals on a regular cadence.

Instead of struggling to make sense of hundreds of complex data points and metrics, business reviews tell a story that gives you a deeper understanding of your business, including:

Identifying goals and objectives

What are you looking to achieve in the upcoming quarter or year? Do you need a plan to help you bid more competitively, increase flexibility, build your contingent labor pool, or reduce reliance on high-cost third-party vendors?

Highlighting opportunities for growth

What are the key challenges you’re facing? Do you need help fixing your pricing strategy or improving your operational management process?

Analyzing spend

Are there opportunities to increase efficiency and reduce your operating costs? During a recent business review, one Field Nation client discovered that they were routinely paying 60 percent above the market hourly rate for server work orders. That one insight led to a significant drop in labor costs.

Creating internal and external benchmarks

How do you compare to your competitors? What’s your year-over-year (YOY) performance compared to where you want to be? What benchmarks are most important to you and your business goals? 

Getting the most value possible from the platform

How can Field Nation contribute where we’re most needed? What underused tools will be most useful to you? What upcoming products and updates are on the horizon that will help improve your experience and operational efficiencies? 

Types of business insights we research and share

The most effective business reviews include four types of data: pricing, quality, coverage, and efficiency. These work together to uncover patterns that can lead to new insights and opportunities for growth.

Data on pricing 

• Are you paying too much for labor on certain types of work or in specific geographic regions? 
• How does your hourly labor cost compare to your client service rates?
• Based on marketplace data and local coverage assessments, are you increasing margins for your clients?
• Has your cost of labor been increasing or decreasing over time? If so, why?
• What was the spend rate for each project compared to the target budget?
• What’s your pay rate by manager?
• Has your YOY total spend changed by client and by project?
• What’s your percentage of travel costs compared to total labor costs? Is it higher than it should be?

Data on quality

• What do the quality and support statistics say about how well you’re serving your customers? 
• What’s your average time to request and time to assign?
• What are your quality stats (e.g., approval times by manager, work order approval ratings)?

Data on coverage

• What are your work order metrics (e.g., totals, work orders completed, service requests received, counteroffer percentage, fill rates, pay rate changes YOY and by work type)?
• Are you meeting a client’s SLA demands for your latest install project?
• Which geographic regions have you been most and least active in?
• How effectively have you been leveraging your contingent talent pool?
• Are your fill rates healthy across clients and projects?

Experience and efficiency

• Is your team having a good experience using Field Nation?
• How efficiently are you using the platform? Could you be saving more time with bulk actions or other best practices?
• Are you leveraging all the tools and features you can be to scale your business?
• Which tools are you using most or least?
• How can we help you streamline your work order process (e.g., account configuration tips, using custom fields)?

 

 

Available for Field Nation Plus and Field Nation Premier clients, business reviews tell an important story about the health and future of your business. They organize data in a way that lets you step back from the granular details and see the big picture. This perspective shift makes it easier to identify your most important goals, open up new opportunities for growth, lower costs, measure your progress, and get more value out of your partnership with Field Nation.

To learn more about business reviews and other benefits available to Field Nation Plus, or Field Nation Premier, contact our sales department at [email protected], or by phone at 877-573-4353, ext 2.