Field Service Management (FSM) was always critical to industries like Hi-Tech Manufacturing, Oil & Gas, Energy and Utilities as a primary way of supporting their core product. Today, FSM is under the spotlight as a driver for new business models, with companies looking to strengthen their customer experience and venturing into servitization. That’s why the FSM market is growing at a healthy pace of 11% CAGR, crossing $5 billion by 2025.1
At its core, FSM is the management of a company’s resources at or en route to the customer’s property, rather than on company property. This covers both human and physical assets, such as locating vehicles, assets, scheduling work, managing employee activity, and ensuring safety during service operations. At the same time, it also means integrating these activity pipelines with inventory, billing, accounting, and other back-end systems.
