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What to Expect in the Year Ahead for Field Service Management and Asset Management

What to Expect in the Year Ahead for Field Service Management and Asset Management Image Credit: Pugun and Photo/Bigstockphoto.com

#1: Scheduling and route optimization for Field Service & Asset Management will be driven by Artificial Intelligence/Machine Language (AI/ML)

New apps will schedule both field crews and drones. Delivery of AI and ML-based asset management, service, and optimization will be led by innovative, mobile and cloud-first-based applications. Some SaaS providers will be able to enable enterprises to eliminate silos and unify Field Service Management (FSM) and Enterprise Asset Management (EAM) in a single cloud platform for all work activities.

#2: For asset-intensive and service industries, just-in-time parts delivery will happen via drones

In addition to drone deliveries, floating inventory warehouses, coupled with shared inventory warehouses, will start appearing. Watch for Amazon and Home Depot warehouses floating on top of your city. All warehouses will have drone landing pads.

Vikram Takru,
CEO,
KloudGin

#3: Your local utility will become a one-stop shop for all your home services, including E-commerce storefront, Installation, Repair and Monitoring services, etc.

A customer’s plumber, HVAC, solar, EV/electric battery storage, and appliance purchase, installation and service will all be conducted through a single provider. The ultimate result is that your utility’s “Single Face of Work” will have new revenue streams, an enhanced customer experience and increased customer satisfaction. Utility providers will have substantial value-boosting assets and service visibility, increased worker productivity and reduced their operating costs.

#4: Renewables will become a major distributed energy source 

Gas Stations will become electric charging stations. This change will open up an interesting competition between Electric Utilities, Gas stations and the Oil and Gas industries. Utilities will also be installing, managing and monitoring metrological, transformation, mapping sensors and a host of IoT devices at scale, in order to leverage edge computing and the cloud.

#5: AI/ML, IoT and thermal imaging technologies, when coupled with modern cloud-based Field Service and Asset-based scheduling systems, will be able to forecast most extreme weather-induced wildfires

Safety is primary for workers, responders and communities that are affected by wildfires. Our simple but powerful mission is to make workers' lives easier both now and as the future of work changes.

#6: Utility providers might just start providing 5G-based internet services, directly competing with telecom operators

There will be increased consolidation and M&A activity within the utility marketplace. Noteworthy will be the consolidation between Water, Wastewater, Gas, Electric, Refuse, and Telecoms as they try to gain efficiencies. The U.S. will lead the competition to dominate the utility marketplace by optimizing operation efficiency, infrastructure modernization, and asset utilization, creating a new digital gold standard for the world to follow.

#7: The use of paper for field service schedules, reports and notes will be eliminated

Let’s face it: paper nowadays is a hassle. It gets printed out and passed around the office, from scheduling and dispatch to workers in the field, and back to finance and accounting - all of which leads to incomplete and inaccurate data. With a single cloud-based digital mobile technology platform, operations can digitize everything that relates to an individual work order. An innovative, worker-first mobile User Interface (UI) requires minimal training and seamlessly replaces manual data entry related to crew time and inventory requests with automation. The automation eliminates human error and guarantees the capture and recognition of all revenue.

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Author

Vikram Takru is CEO of KloudGin, Inc. He co-founded KloudGin with the vision of creating transformative field service and asset management technology that eliminates silos, connects people, process and technology, and creates access to information where and when it is needed. He is committed to delivering solutions that work for field crews in the toughest conditions. His vision has served as the inspiration for KloudGin to become the only, combined, one-cloud Field and Asset management solution that transforms processes, customer experience and worker productivity. Previously, Mr. Takru founded Frontline Consulting Services (FCS) which he grew to over 500 employees and $40M+ in revenue in less than four years. Prior to this, he was Senior Director of R&D at Oracle.

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