3 Ways Service Agreements Can Increase Your ROI

3 Ways Service Agreements Can Increase Your ROI

  • Posted by: Scott Berlin

As a service provider, you know that service agreements or maintenance contracts can keep your business steady during the slow seasons. The HVAC market is estimated to grow at a CAGR of 6.1% over the forecast period (2021-2026). An increase in HVAC equipment sales equals an increase in service demands. In this post, we’ll look at a few ways to utilize service agreements with field service management software like MarginPoint FieldPlus to increase your ROI and keep your business growing with the market.

 Customer Satisfaction and Employee Retention- Customers benefit from a service agreement in various ways. Regular service visits will ensure that existing equipment remains under warranty while extending the life of the equipment. Maintenance visits create a relational customer that will build your brand. These non-emergency service calls provide a template for a positive customer interaction that often leads to increased opportunity for replacement sales. 

 Guaranteed Income- With FieldPlus, you can easily schedule your maintenance calls around slower periods, allowing you to sustain cash flow while keeping your technicians busy. Our visit management feature makes it simple for your back office to track visits to ensure agreement fulfillment. FieldPlus integrates with QuickBooks enabling faster payment processing and improved transaction history.  

 Increased Company Valuation- Companies with an extensive service agreement customer base can achieve higher valuations. A higher valuation can increase the likelihood of securing additional capital to sustain your company’s desired growth while enabling you to continue to invest in your technicians and processes.

Without a doubt, service agreements benefit customers, employees, and your company. MarginPoint FieldPlus provides your organization with an all-in-one solution to improve revenue and overall customer service. Ready to learn more about what MarginPoint can do for your business? Contact us to schedule a demo today. 

Author: Scott Berlin