ServiceChannel Launches Actionable Insights to Make Facilities More Cost-Effective

ServiceChannel, the leading platform for the procurement and delivery of facilities services, announced today the introduction of new solutions that empower business operators to maximize their facilities investments.

The Spring 2024 Product Release includes innovative spending insights that help ServiceChannel users stay on budget, improve their network of service providers, and track their asset health across all locations.

"One of the key challenges that businesses have been facing is the rising cost of labor and goods," said Craig Moriarty, President of ServiceChannel. "These new solutions from ServiceChannel give our customers a competitive advantage by helping them get more from their facilities budget. Now they can see how to make smarter spending decisions, which vendors can deliver better service and lower costs, and where they should plan capital investments for the greatest impact."

The ServiceChannel Platform is used by many of the world's largest retail, restaurant, grocery store, healthcare, and convenience store chains to source and manage the repair and maintenance services that account for more than 70% of their facilities expenses.

Budget Management

The new Budget Insights solution gives ServiceChannel customers the ability to make smarter spending decisions and stay within budget. This tool surfaces real-time insights to help decide whether to start work now or wait until later, depending on budget remaining, including the forecasted cost of work in progress.

"Balancing a tight operations budget with unpredictable facilities expenses is a major challenge when just one large bill can break a location's budget," said Akanksha Manik Talya, Chief Product Officer. "Our new Budget Insights tool helps leaders make confident decisions and avoid overspending with at-a-glance perspective on how potential expenses fit into their existing budget."

Optimizing Service Provider Networks

ServiceChannel Provider Search enables businesses to save up to 30% on their service provider budget by sourcing better vendors who can deliver improved service and lower costs. In this release, customers can now see their biggest opportunities to save by switching to proven providers. The recommendations are powered by ServiceChannel's unsurpassed performance and pricing data from more than 70,000 providers and 220 million work orders.

"With network opportunities, our customers can find the weak spots in their vendor network, identify the best alternative providers, and then test those new providers quickly by effortlessly inviting them into their network and monitoring their performance on a monthly basis," said Mike Roberts, Vice President of Marketplaces.

Asset Validation

The ServiceChannel Asset Validation tool gives businesses a powerful new way to accurately track their physical assets at every location, reducing downtime and costs. It captures the service history and condition data needed to calculate total cost of ownership, so owners can proactively replace assets at the end of their useful life.

With validated asset data, corporate leadership teams can make smarter and more confident capital investment decisions that preserve revenue and customer experience.

Leum Fahey, Director of Product Management, noted, "Companies often struggle to keep their asset data up-to-date, which can lead to costly mistakes and missed opportunities. This also undermines confidence in capital planning decisions if the finance team is uncertain about the actual operating cost of facilities assets."

Additional Innovations

The Spring 2024 Product Release includes a range of additional features, such as: site audit data analytics, faster parts ordering, provider asset photos and meter readings, and automatically deferred work orders to control service speed and spend.

For more information or to request a free demonstration of the ServiceChannel facilities management platform, visit servicechannel.com/request-a-demo.

About ServiceChannel

ServiceChannel brings peace of mind to facilities and store operations teams by ensuring that their locations offer the best possible guest and employee experience. Market leaders across industries partner with us to accelerate the performance of their business-critical assets. We make this possible through a SaaS platform that provides a single source of truth, a marketplace that connects businesses with top service providers, and professionally managed services. ?ServiceChannel is used daily by 500+ leading brands to manage more than 70,000 contractors at over 500,000 commercial locations in 66 countries. For more information, go to www.ServiceChannel.com.