The simPRO Blog

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Why profit isn’t the problem and cashflow is king

What is cashflow management?

In its simplest form, cashflow management is doing everything possible to ensure that money flows into your business as quickly as possible, and leaves the business as slowly as possible.

When you’re a busy, hard-working small business owner, getting paid on time is vital for success. But, invariably, not everyone can or will pay up when they should.

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Human ingenuity is the decider

At the end of our recent RADlabs launch event, our Chief Technology Officer Jonathan Eastgate said, “how fitting that we are launching RADlabs and using one of mankind’s earliest technological inventions.” He was referring to the cake knife in his hand and RADLabs being a team of researchers and developers building innovative technologies aimed at improving the field service industry.

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Slick coaching and deliberate practice

If you’re seeking to achieve business growth and expansion, it’s likely you’ll look to leverage the passion and talent of your employees. This might mean looking to your star performers, and it might mean looking for new hires.

The ultimate goal is to create autonomy within your workforce – you’re seeking to create a capability that works as if you were controlling it but with little need for your input. Think about that for a moment.

When autonomy is reached, things will just flow and you are free to turn your attention to higher level strategic matters which promote growth and expansion.

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The future of field service with the Internet of Things

Isn’t it funny how quickly science fiction can become reality in today’s world?

In 1966, Star Trek first showed us the ‘communicator’, then, in 1973, Martin Cooper made the first phone call on a portable cell phone. In 1870, Captain Nemo travelled on the Nautilus, a submarine, in Twenty Thousand Leagues Under the Sea, and in the 1960s, The Jetsons used robotic vacuum cleaners.

We first started talking about the idea of smart devices in 1982; the first internet-connected device was a modified coke machine. How many internet-connected devices have you got within a five-meter radius of you now?

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Making metrics honest with the internet

Almost every product or service imaginable these days has a website where anyone with an opinion can rate or comment on the product they purchased or service they received.

And thanks to the smartphone, this can be done instantaneously.

A movie-goer can tell anyone interested if a flick is a dud or a must-see before they’ve even finished watching it. My wife and I love how we can check a restaurant’s rating while sitting in the carpark trying to determine if we should dare venture into a new place to eat.

This has put a lot of power into the hands of consumers, which I’m very much in favor of. My question, however, is how are rating sites going to affect field service companies, and should these companies be worried?

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Google’s ‘Jacquard’ meets field service

I recently came across an article about a new product that will premiere in the spring of 2017. It’s Google’s ‘Jacquard’ and it’s the first (but certainly not the last) piece of connected clothing to hit the market.

In a partnership with Levi’s, Google has created what they call “interactive denim” – indistinguishable from Levi’s traditional denim but loaded with sensors that can detect hand movements.

The pitch is that a wearer can interact with with Google Maps, Spotify, phone calls, texts (and many more apps to come) by simply touching the sleeve of their jacket.

After I finished reading the piece, my tech-curious mind immediately asked: “How will this technology find its way into the field service industry?”

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