Lastly, business owners need access to data to assess the operational and financial health of the business, from the corporate level all the way down to individual projects. By the time monthly reports from accounting systems are produced, it is often too late to identify at-risk projects. The rich set of operational and financial metrics captured by a field operations platform provides a powerful data set to analyze and help make important tactical and strategic business decisions.
Field operations platforms also provide the ability to track and report on operational and financial metrics at a much more detailed level than previously available. Representative metrics and potential benefits include the ability to:
- Increase field productivity by 20 to 30 percent
- Reduce repeat or unnecessary site visits by 5 to 10 percent
- Reduce time spent on manually intensive administrative tasks by 10 to 15 percent
- Accelerate cash collection by 10 to 20 percent
- Reduce material and asset costs by 10 to 20 percent