MINNEAPOLIS — (BUSINESS WIRE) — For the first time ever, Managed Service Providers (MSPs) will now have access to real-time, marketplace-wide pricing and coverage data through a new web-based tool from Field Nation – the leading field service marketplace – called MarketSmart™ Insights. The new tool provides MSPs with data from millions of field service jobs posted on Field Nation to help them bid more competitively, win more work, protect margins, and identify growth opportunities.
“One of the key challenges MSPs have is pre-sales effectiveness”
said Wael Mohammed, EVP Product, Field Nation. “If sales teams bid too high in an effort to protect margins, they’re less competitive. If they bid too low in an effort to win the work, they compromise profitability. The only way to solve this trade-off is using real-time, location-based pricing data to determine the precise sweet spot between competitiveness and profitability.”
Whereas previously MSPs were limited to their own historical data when it came to pricing bids and assessing coverage, MarketSmart Insights provides business intelligence from across Field Nation’s marketplace that can be filtered by zip code, type of work, keyword, project, client, and more.
“MarketSmart Insights has saved me several hours a week,” said an operations manager at a leading telecom services company. “Responding to RFPs used to require a lot of spreadsheets, and now it just takes a few clicks.”
With over 100,000 IT technicians across the United States and Canada registered on Field Nation, and more than 1 million work orders completed annually, MarketSmart Insights offers access to tens of millions of pricing and coverage data points to help MSPs plot out a path for maximizing profitability in 2021 and beyond.
“We used to pay technicians $75 an hour across the board,” said the founder of a nationwide technology solutions firm. “MarketSmart Insights quickly showed us we were overpaying in several geographies, so we’ve adjusted our pricing to improve our margins without sacrificing quality.”
“Labor rates can vary by 15-20 percent depending on geography,” said Field Nation’s Mohammed. “If you’re only relying on your own historical data, and not bidding based on real-time, location-based intelligence, it could mean the difference between profitability and loss – especially if your competition has it and you don’t.”
For more information, visit fieldnation.com/marketsmart
About Field Nation
Field Nation brings companies and highly skilled technicians together to complete short-term, on-site field service work. Companies can build their flexible workforce in geographies across the U.S. and technicians can find work that fits their schedule and skill set. Our mission is to match every technician with the right job, and connect every service team to professionals who are invested in quality outcomes. Learn more at fieldnation.com
View the original press release.