It’s hard to believe that 2022 is just around the corner! In this quarterly product release update, we’ll review topics that are top-of-mind for service companies and technicians as we head into the new year.
Wael Mohammed, EVP of Product, is joining us again today to share some insights. Let’s dive in!
Which trends are having the greatest impact on service companies as 2021 draws to a close?
“Many of our customers have robust project pipelines going into 2022. Although business is strong, customers face a variety of headwinds. The current labor shortage has led to increased competition, increased labor costs, and capacity constraints. None of these are new issues, but the pandemic has certainly exacerbated the challenges.
Many market forces are out of our customers’ control. That’s why we always advise clients to focus on controlling what they can to protect margins. While we obviously can’t reverse these challenging market trends, the Field Nation platform can help businesses develop productive relationships with qualified technicians they can trust.
We also recommend a variety of strategies to help companies become a “buyer of choice” so they can compete for talent in a tight market. Of course, this starts with offering competitive pay. Our platform data indicates that pay rates have increased an average of 7 percent year-over-year across all work types.”
Speaking of the pandemic, how is Field Nation helping service companies stay compliant with sites that require proof of vaccination?
“Since the pandemic started, we’ve had a COVID response team focused on meeting customer needs. We‘ve heard from both sides of our marketplace about the need to show proof of COVID-19 vaccination in response to local or client mandates. So we’ve delivered a solution that enables technicians to indicate on their profile that they are willing to show proof of vaccination.
Our platform makes it easy for technicians to add their vaccine status to their profile. So far, we have over 2,400 technicians that have noted their willingness to show proof of COVID-19 vaccination on-site.”
How is Field Nation helping buyers connect with qualified providers?
“We know that finding qualified technicians is especially challenging in today’s environment. We recently added some capabilities to our work order qualifications that make the process easier for customers.
Using the Work Order Qualifications feature, buyers can communicate the certifications, equipment, and other qualifications that are necessary for a project. This feature sounds like a simple concept, but it’s actually very strategic and beneficial. It creates a feedback loop with technicians to ensure both parties make the right match.”
What trends should service companies have their radar on for 2022?
“We continue to see the digitization of the consumer experience accelerate across industries. For example, in retail stores, technologies like digital signage, self-checkout, and electronic shelf labels are growing exponentially. Due to the proliferation of connected devices, we see strong growth in cabling, networking, and telecom projects.
At the same time, demand for corporate technology services has been flat or declining. This isn’t surprising given the continued trend toward hybrid and remote work.”
What key enhancements are coming up on the Field Nation platform?
“As we look towards 2022, we’re planning on some very exciting things. Our priorities are aligning around three key focus areas: talent & network, platform & ecosystem, and intelligence & analytics.
As far as our network goes, we’re planning to bring enhanced vetting capabilities to the platform. We’re also making significant improvements to provider onboarding and recruitment.
Across our ecosystem, we’re enabling what we’re calling ‘Certified Service Partners’ to meet clients’ need for burst capacity. We’re onboarding parts and materials partners so service companies can actually order materials directly from within a work order.
Analytics capabilities are a key focus. For example, we plan to roll out new retailer-specific intelligence within our MarketSmart™ Insights tool. This will help customers find technicians that have completed work at specific retail sites. Our next generation of buyer performance analytics and enhanced coverage planning capabilities are also in the works.
If you’re interested in early access to these programs, please reach out to your Field Nation account manager. We’ll connect you with the right person to help.”
Looking for more details on what’s new in the Field Nation platform? Check out the webinar recording. Or you can contact your Field Nation representative, or email [email protected] for a personalized demonstration.