Ever since the Great Recession in 2008, the HVAC field service industry has seen growth. It’s been lucrative for those in the industry performing service as upticks in spending, new investment, and changes to the tax code have opened opportunities. Money has continued to be pumped into the industry and has fed plenty of growth, turning leaders towards HVAC field service management software to help with the new workload.
With growth comes plenty of hurdles and obstacles along the way in trying to mobilize a workforce to perform service. Customer expectations have changed, competition has grown, and field service management itself has become consumed with automation. But for those who have grasped modern technologies like HVACR field service software, they have seen amazing growth and success in this growing industry.
There are still hurdles to jump, as well as opportunities, and leaders in the HVAC field service industry are tackling them head-on as the industry continues to grow, heading beyond 2020.
Will It End vs. Can We Extend It
Over the past 10 years, the HVAC industry has seen tremendous growth. With money coming into the industry, it has left many wondering when the good times will end. There are many predictions out there and thoughts on when or if the industry will slow down, but the real leaders are looking at ways to extend the growth. With plenty of business to go around, new construction on-going, and older systems that need to be upgraded, there isn’t a shortage of work by any stretch. An uptick in the economy has allowed more people to look at upgrading, renovating, and re-purposing their units, keeping HVAC field service organizations busy.
While some are being optimistic about the economy and industry growth continuing, leaders are taking control and extending it themselves. It’s now that HVAC businesses are investing heavily in their service delivery, which includes adding HVAC field service management software, Internet of Things (IoT) technology, field service mobile apps, and business software to their organization. With these investments, field service organizations aren’t worried about when the good times will end. Instead, they are focused on changing their business for the better by making their technicians work more efficiently, eliminating manual processes, and offering communication routes between everyone.
If things were to slow down tomorrow, many HVAC field service businesses wouldn’t feel the burden because they took the steps needed to maintain their positions in the market. This hurdle is proof that while some will be preoccupied with when things will end, others are pushing forward with technology implementations that will extend it.
A Turn from Construction to Maintenance
During the 1990s to 2006, the new construction market bloomed, only to be capped by the recession in 2008. New construction has returned to the HVAC industry, but what is also driving growth in the HVAC market is the need to replace those older HVAC units from the original boom period. Strong economic conditions have allowed others to look at full replacements, so it’s the best of both worlds for HVAC businesses today. Put in the new system and then continue to provide preventative maintenance to it.
New installation projects are growing because those older models don’t have the same advancements in today’s HVAC units. The technology has changed so much so that customers are accepting full replacements of HVAC systems instead of repairing an older unit. That leaves the door open for HVAC businesses to upsell new units, and then get their customers signed on to new contracts. HVAC field service management software is handling the project and job costing aspect of new installations. It effectively manages the people, resources, equipment, and parts needed to totally upgrade HVAC systems.
Afterward, contract management is handled by the same HVAC field service software, with automated processes. Work orders are created automatically, ready for dispatchers to schedule. No appointments are missed, standards are high, and the contract becomes more lucrative. For the HVAC industry, it’s the perfect way to double-dip into the booming economy.
HVAC Industry Becoming Profit Focused
The day will come when the economic boom will end, new construction will slow, and the focus will be back on maintenance. It’s then that leaders say, HVAC businesses need to focus on profits. That means reducing costs when new projects are available to start, making technicians more efficient and adding more value to long-term preventative maintenance contracts.
Field service mobile apps have made it so that technicians are more efficient, cutting down a lot of their manual processes and time-consuming tasks. Instead of driving to the office to drop off work orders, they are driving to the next appointment. The more time they save, the more extra work orders and appointments can be added to their schedule, driving profits forward. HVAC field service management software is also allowing HVAC businesses to hire subcontractors and third-party vendors for additional work. With these technicians, they are saving money by not employing full-time workers, and putting their work up for bid. Standards remain high with mobiles apps and advanced checklists, but costs are coming in lower.
Make the Investment Today
If you’re just waiting for the good times to end, you may be too late to get back into the race. It’s when things are good that HVAC businesses have the capital to invest in HVAC field service management software. Leaders in the HVAC industry are looking at ways to increase profits and efficiency in their technicians and many are turning to HVAC field service software to do that.
Extend the boom of the HVAC industry and the growing economy well beyond the years it is predicted. Set up the future of your organization today by using field service mobile apps, modern technologies and field service software. Leaders are faced with hurdles every day in the HVAC market, but it’s how they are dealing with them to turn them from hurdles into opportunities that sets them apart.
If you are interested in learning more about how Fieldpoint’s software can help your organization grow in the coming years, please let us know and we’d be happy to show you our software in action.