Field Service Knowledge Scaling Can Cut Costs by 26%
A new benchmark report from Aquant analyzing 30 million service events finds that companies can achieve up to 26% in service cost savings. The savings are unlocked by effectively scaling knowledge across the field service workforce. The analysis is based on data from 161 organizations.
- The report's findings show that failed service visits contribute to nearly half (44%) of the total service costs for lower-performing organizations. This highlights a significant area for improvement through better knowledge dissemination. - A major challenge in field service is the loss of expertise as veteran technicians retire. Effective knowledge scaling helps capture and distribute this crucial "tribal knowledge" before it's gone. - High-performing organizations achieve an average First-Time Fix (FTF) rate of 88%, compared to just 63% for lower-performing companies. Scaling knowledge directly impacts this metric by equipping technicians to resolve issues on the first attempt. - One in five service cases could potentially be resolved remotely, but many companies still dispatch technicians, which significantly increases costs. Knowledge-scaling tools can empower remote teams to resolve more issues without a truck roll. - The skills gap between top and bottom-performing technicians can be substantial, with bottom performers costing their organizations up to 80% more. AI-driven platforms can help standardize performance by providing all technicians with access to expert guidance. - Leading companies in field service retain a significantly higher percentage of their workforce—87% compared to 66% for bottom performers—illustrating a link between effective knowledge support and employee retention. - In a previous analysis, Aquant found that if all team members performed at the level of the top 20%, an organization could save 23% in service costs. - Key factors influencing first-time fix rates include technician skills, the quality of the knowledge base, and having the correct parts and tools for the job.
