For a seasoned service leader, fully mastering the nuances of finance within a successful service operation can be a challenge. For a new service leader, it can be a complex and confusing area full of complicated language and unfamiliar concepts. To help service management leadership professionals help navigate their way through this new area of understanding.
This program is produced by Field Service Associates whose co-founders have over 70 years of industry experience and is authored by Steve Cummins and offers excellent guidance into the often overwhelming area of service finance with clear explanations, detailed guidance and practical exercises to work through that re-enforce your learning.
The program includes four modules:
This course provides an insight into the full training courses available to you as a service leader.
It is not designed to be comprehensive but merely gives the reader an insight into the complexities of a companies reporting structures, so as to prepare the reader for the depth of enablement to follow.
After this taster course is completed, you will have the choice to move onto the following three other enablement sessions designed to support your development into the realms of financial statements, you may encounter on your service leadership journey.
Accounting Fundamentals – Debit, Credit, Equity, Asset, Stock, Liability……etc. etc…; Accountancy has a language of its own; what do these words mean and what does the busy Service Manager need to know.
The words and phrases used in accountancy are alien to those of us that don’t use them on an everyday basis. On this course we will try to demystify some of the jargon, work through examples of the concepts and identify numbers that the interested parties look for and why.
In this course, we will cover the concept of double-entry bookkeeping and some of the “everyday” words that you may come across. Moving on to the underlying core concepts of modern accounting through the legislation of Published Accounts and how these concepts are applied. Finally, the interpretation and analysis of UK Published Accounts.
Within this workshop we will look at the area of Service Management concerned with Financial Control, we will also have to touch on Financial Planning and the use of Non-Financial data in ensuring you have control of the financial aspects of the role of the Service Manager and making decisions based on an understanding of the Management Accounts.
In this workshop, it is assumed that accounting principles and other accounting concepts, words and phrases such as balance sheet, profit & loss, asset, liability, debit and credit along with a superficial understanding of legal requirements is understood. These were covered in the finance essentials for service leaders course, new concepts etc. will be explained as we approach them in the workshop.
Within this workshop we will look at the area of Service Management concerned with Financial Planning, we will also have to touch on Financial Control (the plan is worthless if it is not adhered to) and the use of Non-Financial data in ensuring you have an achievable plan. The Service Manager is expected follow the plan whether it be an annual budget or an individual job determining key milestones and indicators within the plan are essential in good planning.
In this workshop it is assumed that accounting principles and other accounting concepts, words and phrases such as balance sheet, profit & loss, asset, liability, debit and credit along with a superficial understanding of legal requirements is understood. These were covered in the finance essentials for the service leader course, new concepts etc. will be explained as we approach them in the workshop.
Steve Cummins has over 40 years of financial experience including; Auditor, Budgeting, Forecasting, Tender Application Pricing, Costing, Profit and Loss, Balance Sheet, Published Accounts and Credit Management.
Overlaid with over 25 years Operations and Service Management experience in a wide range of industries including Mechanical Engineering, Civil Engineering, Quarrying, Manufacturing, Wholesale Warehousing and Logistics. Outsourced Soft Service Facilities Management; Print, Post, Archiving and Office Services. Online Retail.
Extensive experience in analysing problem contracts, services and businesses. Identifying underlying traits/issues and determining appropriate correction techniques using tools such as Kaizen, 6 Sigma, Blue Ocean Strategy and Ratio Analysis.
The Field Service News Masterclass Program is a series of courses specifically designed for Field Service Managers and Directors by some of the industries leading thought leaders. Each course is designed to give you, as a service management professional, an additional piece of the knowledge and insight you need to become a leader within our industry. We will be adding additional courses to this program on a regular basis which will all be included as part of your membership.
This program is available exclusively for FSN Elite members. As well as access to the Field Service News Masterclass program also included within the annual subscription are the following membership benefits:
As a new manager in a Service organisation, you may well be somewhat cautious about all the new tasks and challenges that await you. This is only natural and one of the main concerns for a new manager is that of the Profit and Loss account (P&L a/c). The P&L account can be a concern because it is so alien to anything that you have ever had to deal with in your daily working life before. Your first encounter with the P&L account may be when one hits your desk and you are expected to explain the performance of your team based on all these numbers.
This course, created by Steve Cummins who has extensive experience both in finance and service management is the perfect introduction to help you make sense of the P&L quickly with simple and easy to understand explanations that will build your confidence and understanding in this area in no time.
This course introduces the Customer Value Iceberg which is a tool you can use to crack open opportunities for developing new contracts, digitizing your service business and much more.
By the time you have completed this course you will gain 4 key insights:
Led by Nick Frank, Founder of the Service Leaders Network and Managing Director, Si2 Partners, this course as with all courses on the Field Service News Masterclass program will guide you through a series of reflection-based activities that will form the framework for implementing a project within your organization that can improve your field service operations - in this instance bringing you closer to your customers and truly understanding where they see the value in the services you provide.
In this course we will cover the concept of double entry bookkeeping and some of the “everyday” words that you may come across. Moving on to the underlying core concepts of modern accounting through the legislation of Published Accounts and how these concepts are applied. Finally, the interpretation and analysis of UK Published Accounts.
Traditionally, the critical metrics within field service organisations have centred around operational success. KPIs such as Mean-time-to-Repair (MTTR), Technician Utilisation and First-Time-Fix (FTF) have always been at the top of any benchmarking study relating to this area.
However, increasingly across the last few years of undertaking such benchmarking studies, we have seen Customer Satisfaction (CSAT) metrics become widely cited as critical KPIs amongst field service organisations.
Taking this in mind, Field Service News Research in partnership with HSO has undertaken a detailed study to understand precisely what CSAT metrics are being tracked.
Now, in this exclusive 14-page report, published in partnership with HSO and authored by Field Service News Editor-in-Chief, Kris Oldland we present our analysis of this study for you...
Findings revealed in the report include:
Kris Oldland, Field Service News Editor-in-Chief is joined by Steve Priestly and Cliff Adams of Xplore Technologies and Bob Ashenbrenner Durable Mobile Technologies for this 2018 video report, as they discuss whether the lines between rugged and consumer devices are blurring, how long companies should be looking to use mobile devices before they become out of date and take a look at Xplore's new 2-1 and handheld rugged devices the X-Book and the M60.
Within this paper, published in partnership with PTC, and authored by leading industry commentator and analyst Kris Oldland, we explore what this seismic shift in acceptance of new ways of working will mean for the field service sector.
The central tenets of this paper are:
The rapid and widespread adoption of remote service delivery that occurred in 2020 has resulted in wide variances in how remote service is delivered
Service excellence is a core differentiator between competitors. Remote service will be no different.
Different customers have different needs - this should be applied to our thinking around remote service offerings.
There is currently a window of opportunity to gain a competitive advantage as the industry transitions to effective remote service
Kris Oldland is joined by Doug Lacy, President of Pivital and Mynul Khan, CEO Field Nation as they explore the ways in which the field service workforce is rapidly evolving and they discuss how field service companies can harness the growing potential of the gig economy and 3rd party labour.
Having conducted an extensive research study in partnership with Salesforce, we explored how the field service sector has shifted towards remote-service delivery since the pandemic.
Here in the concluding report in this study, we share with you the insights from two in-depth debrief sessions and a series of follow up interviews with a selection of respondents, to help you as a field service management professional have as complete a picture as possible of the seismic changes our industry is set to move through.
Areas of discussion within this report include:
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