5 Reasons CFOs Are Relying on Automated Workforce Data

Posted by Avigail Shabtai

Mon, Feb 17, 2014

workforce management softwareField service companies employ a large, skilled and diverse workforce. The use of sophisticated mobile workforce scheduling software helps optimize field service. 

Data from workforce service scheduling and operations provides a wealth of information that flows into a firm from its automated workforce data systems.

It constitutes a resource critical to planning, and so is of keen interest to company management, among them its Chief Financial Officer (CFO). Field service companies’ CFOs rely heavily upon automated workforce data to enhance enterprise resource management and planning in five key functional areas:

1. Sophisticated Workforce Analytics

CFOs utilize ongoing workforce data to project and control workforce costs, and to recommend more efficient deployment of field service personnel. They often do this through the use of sophisticated workforce management analysis tools, whose multidimensional functionality includes the capability to drilldown to the level of granularity needed to identify, analyze and resolve problems. Armed with this knowledge, CFO’s are well positioned to better project and schedule revenue, track and control expenses and become quickly aware of ongoing mobility and asset expense issues.

2. Mobile Business Intelligence

Information within this domain provides quick assessment of Key Performance Indicators (KPIs) drawn from automated workforce data.  CFO’s rely upon specialized software to help assess the current state of the enterprise, transforming operational data into concise, actionable knowledge. Critical workforce metrics such as field support, resource travel, workload performance and manpower utilization are some of the key business intelligence variables available to CFOs through such software.  

Typically, this information can also be integrated with other operational systems data and external data, including customer relationship management modules, to provide a full picture of the financial posture of the firm and its key business drivers.

3. Workforce Planning

CFOs rely upon automated workforce data to help monitor and control field service resource capacity and prevent high overtime costs, low employee utilization and unfulfilled service level agreements.  Knowledge of ongoing workforce utilization helps field service management fulfill commitments within budget and with the best use of available workforce resources.  

4. Demand Forecasting

With solid, verified workforce utilization data at hand, CFO’s use specialized demand forecasting software to help control costs, more accurately manage budgets, make sound investment decisions and recommend more efficient employee scheduling.  Inherent in such sophisticated products is the capacity to utilize historic data to identify and forecast multiple business scenarios through graphic representations and customized reports. 

Given the integrity of the data provided to the forecasting software from related operations systems, forecast accuracy and reliability is ensured, facilitating improved decision making.  Demand forecasting helps project and control operating costs and enhance business agility while increasing operational flexibility.

The capability to create scenarios employing various business assumptions across all functional areas of the enterprise allows the construction of flexible models that serve as the basis for discussion and decisions.  The best outcomes can be selected from among forecasts to produce improved capacity planning and resource allocation.

5. Systems Integration

Working with systems integrators  adept at meeting the information needs of field service management firms, CFOs are able to select and utilize external data within software applications of interest to them.  Such data is typically drawn from back office HR systems, and the company’s billing and accounting systems.

A knowledgeable systems consultant typically works with the CFO and his staff to identify, import and integrate data from such systems as SAP, Oracle, Microsoft Dynamics and in house legacy systems.

Image Credit: Victor1558

Tags: Field Service Management for Enterprise, Mobile Workforce Management