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Top 5 Reasons why to Invest in Software for Service Management for Better Business
What is a Software for Service Management
Simply put, a software for service management helps companies manage their customer service. Some software solutions offer customer support tools and customer self-service options, which allow for improved troubleshooting, product maintenance, diagnostics, but also help with routine operations. Basically, a good service management software should support companies in all their interactions with their customers.
How Service Management Software is used in Different Industries
Without a doubt, for good customer service, recognizing difficulties, understanding problems, and effectively communicating with customers is always key, no matter what industry you’re in. However, it is also important to note that the requirements for a service management software oftentimes vary among different industries. Some examples of industries and their specific requirements are:
For this reason, it’s advisable to do some careful research to find a software provider that’s flexible enough to cater to your specific needs.
5 Benefits of Service Management Software
Ideally, the use of service management software complements a company’s existing business technology and contributes both to the value creation outside the supply chain and to the reduction of avoidable costs. Among others, we consider the following 5 benefits to be particularly important:
1. Higher efficiency
When it comes to customer support, we know that every minute counts. Regardless of what industry you’re in, it’s never a good idea to keep your customers waiting. At the same time, it is crucial that a service case is not only answered quickly, but also solved effectively and efficiently. 33% of consumers worldwide believe that the most important aspect of a good customer service experience is getting their issue resolved in a single session, regardless of the time spent (Statista). A direct benefit of service management software is that it not only helps manage, prioritize, and resolve service cases, but also significantly increases the chance that problems will be fixed on the first try.
2. More customer self-service
Today’s customers want the option of being able to access information 24/7 without waiting times, to find the answers to their questions themselves. The demand for self-help solutions has increased, particularly during the pandemic. Customers are happy to help themselves if they are provided with suitable solutions online or on their smartphone that avoid talking to an agent or writing an email. 98% of US consumers expect companies to have an online self-service support portal (Statista). This is where service management software comes into play. Not only does it help customers, but it also deflects the demand away from your employees. Reducing the workload normally caused by standard service cases, they are now available to handle more complex tasks.
3. Improved customer experience
Software that improves the customer experience not only has a short-term impact on customer satisfaction, but if used correctly, can also have an even greater and long-term positive effect on it. It enables companies to provide excellent customer experience while collecting and analyzing data on their service cases to understand different dynamics. Ideally, such software offers the possibility to do this in a GDPR-compliant way. The data from your company’s interactions with your customers can help you better understand your customers and to create a comprehensive picture of their wants and needs. Based on these insights, you can then improve your processes, services, and even your product itself. This lowers service costs while increasing customer satisfaction. Companies with a customer experience mindset drive revenue 4-8% higher than the rest of their industries (Bain & Company), so this is something to really consider.
4. Increased Brand Loyalty
Believe it or not, it’s easier to keep customers than it is to find new ones, so don’t underestimate the value of keeping your current customers happy. Microsoft Dynamics 365 released a report stating 95% of consumers say customer service is important for brand loyalty (Microsoft Dynamics 365). Therefore, it is obvious that investing in software that supports service management and maintains high customer satisfaction, impacts brand loyalty positively. When customers are happy, they’re more likely to continue buying, and better yet, they’re more likely to recommend your service or product to others – your new customers.
Improving customer experience is key to staying ahead of the competition. The world is turning towards new technologies that help provide customer service, so software geared towards enhancing the customer experience can be a major differentiator. 73% of companies with above-average customer experience perform better financially than their competitors (Forbes). So it’s clear where a company’s focus should be if it wants to get ahead.
Provider of Service Management Software
Software solutions specializing in service management offer a wide range of features. Some provide options that enable companies to manage assets, teams, and customer inquiries, and all while keeping compliance with legal regulations such as GDPR. One such example is sqanit, a cloud-based service and communications management system. This software provider offers sophisticated solutions that improve the relationships between companies and customers while reducing service costs.
More specifically, the features can be divided into 3 ranges:
The benefits of having service management software can’t be overstated. Regardless of the size of your business, investing in good software makes sense as it can support your service team, improve overall customer satisfaction and increase revenue.