The 3 Most Important Service KPIs and How To Implement Them

The 3 Most Important Service KPIs and How To Implement Them

Key performance indicators (KPIs) are how you— and upper management—know what’s working and what’s not working in your service strategy. The right KPIs help you provide customers with the best support possible. And the right IoT platform helps you meet those KPIs in a cost-efficient, timely and effective way. 

From Good to Great Service

At its core, good service is built on recognising and fixing machine malfunctions as soon as possible. Great service is built on predicting and solving machine issues before they become malfunctions. As IoT is creating explosive growth in data communication between machines and service teams, it’s becoming the proven, cost-effective method for quickly taking your service model to that next level of greatness.
Even while every service ecosystem is different—with unique KPIs based on customers, industry, business goals and a million other nuances—the best way to provide the best service is to use an IoT platform that was purpose-built for your KPIs. Remote monitoring made possible by IoT is the proven first step towards creating reliable predictive maintenance, improving machine uptime and increasing customer satisfaction.
No matter the size, strategy or structure of your team, your efficiency, customer happiness and overall service model will benefit from remote monitoring through a purpose-built IoT platform.

The Golden Trifecta of KPIs

First-time fix rates (FTFR), customer uptime and mean time to repair (MTTR) are the golden trifecta of KPIs. Because they overlap both cost-savings internally and customer-service quality externally, measuring these KPIs is the best way to demonstrate your service value to both internal stakeholders and to customers. Meeting these KPIs will lead to increased service margins and operational efficiency through cost reduction and process improvement, as well as increased overall customer satisfaction.
These are the three most important KPIs because they also impact other measurable efficiencies—for example, improved MTTR and FTFR will naturally lead to fewer truck rolls, which is in itself a clear and provable cost-savings. And improved customer uptime will be a huge factor when customers are rating their service satisfaction and deciding whether or not to renew contracts.

Remote Monitoring through IoT Connectivity

Remote monitoring gives service providers an in-depth look into machine performance before they go into the field, with continued visibility while on the customer site. With ongoing, always accessible data, service teams can easily perform predictive maintenance, which improves customer uptime and stops machine failures before the customer was even aware of the risk. And when service calls are needed, teams can immediately access and analyse the trouble-making machine’s data before going to the call. Technicians can prepare with exactly the right tools and knowledge to make repairs right the first time, for an improved FTFR and MTTR.

Building a KPI-Driven Ecosystem

Newly accessible machine data are changing the traditional methods of providing machine service and proving service value. IoT-based remote monitoring is the first step towards predictive maintenance, improving customers’ machine uptime and increasing customer satisfaction.

 

Quick Wins and Long-Term Results with Remote Monitoring

Find out how service leaders are using remote monitoring and IoT connectivity to become more efficient, proactive and successful:

  • Transform your service department into a revenue-driving leader across the company.
  • Solve service issues before they happen with predictive analytics.
  • Gain in-depth data on customers’ machine use and tool performance.
  • Reduce truck rolls and arm technicians with the right information and the right tools before they go into the field.
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