Correctly managing HVAC equipment inventory can make or break a business. In fact, globally, retailers recorded $1.75 trillion in losses due to mismanaged inventory in 2019. In today’s fast-paced market filled with almost 120,000 HVAC contractors in the United States alone, inventory stock-outs and mismanaged inventory can lead a potential customer—or worse yet, an existing
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When a client purchases a new HVAC system, they receive a warranty that covers certain repairs, replacement of major parts, guarantee of faulty equipment, and more. A typical HVAC warranty offers five- to ten-year limited warranties, which typically cover the compressor. Many HVAC contractors also offer labor warranties for a set term following the initial
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There are hundreds of HVAC software programs available, from end to end solutions to programs that perform just a single function. But, with only 5% of HVAC companies making 95% of the profits nationally, how do you choose the right HVAC software that will work for your company and ensure your business runs smoothly? Like
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According to Verizon Connect, 61% of field services organizations say the biggest benefit of automation is the ability to automatically update records after capturing customer information. But if you aren’t harnessing that functionality to automate your billing process, you are missing out on one of the biggest efficiencies that field services management apps can provide.
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One of the most powerful tools a field service company can use to ensure they are growing in the right direction is analytics found through field service management software. There’s a wealth of information available to help grow your company, big or small, based on smart insights that drive revenue. Although, many organizations still struggle
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Route optimization is not a priority at many field services companies—and that is costing them money on multiple fronts. Navigating congestion costs the average American driver 97 hours and $1,348 per year. Consider that field services technicians drive much more than average, and the cost of time and money starts to become clear. But the
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Field service operations is a game of margins. For some businesses, those margins are razor thin—some experts estimate that the standard profit margin for a successful HVAC company is only 6%. Why is that, exactly? Field services companies face all the same overhead costs that any service-based business deals with, like payroll, office expenses, insurance,
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Investing in employee training is more essential for a business than ever before. According to the American Society for Training and Development, businesses that have formalized and comprehensive training programs earn 218% more income per employee than those without. Even for a small- to mid-sized business, that difference in earnings cannot be ignored. But formal
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Talent attraction and retention is a challenge facing every business, in every industry. 60% of US employers have job vacancies that stay open for 12 weeks or more. What’s worse, this skills gap is costing employers nearly $1 billion a year! For HVAC companies and other field services providers, the perils of the talent gap
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Currently, all the skilled trades are facing a serious talent shortage in the workforce. It’s only expected to get worse before it gets better—for every three skilled tradespeople retiring between now and 2030, only one is currently projected to be available to take their place. What is driving this serious disconnect between young people entering
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