Asset 360 Winter ’22 was released Friday, November 5. In this one-year anniversary release of Asset 360, we continue to focus on our core pillars, driving profitability, visibility, and agility. Winter ’22 includes features that enhance sales and service interaction, provide actionable insights with Service Analytics, and leverage a templatized approach to Service Contracts and Maintenance Plans:
- Enhancing Sales and Service Interactions. Service Contract APIs connect the CPQ process to Service; Renewal Insights allow sales and account teams insights to have better upsell and renewal conversations; and enhancements to Product Service Campaigns provide the ability to run targeted campaigns into the installed base.
- Service Analytics. New dashboards for Cost-to-Serve and Service Profitability, powered by Tableau CRM.
- Improving Asset Data Visibility. Continuing to improve asset data visibility with Asset Service Coverage, accessible across the Asset 360 platform, Salesforce Field Service mobile app, and Customer Community.
- Mobile Best Practice Flows. Mobile-enabled best practice flows.
- Templatized Approach to Service Contracts and Maintenance Plans. Service Contract Plan Authoring and Maintenance Plan Template enhancements leverage a templatized approach to contract creation, down to the line-item level.
These capabilities empower your service teams, customer-facing teams, field technicians, and your sales and account teams to better serve your customers, drive more revenue, and improve service productivity.
Enhancing Sales and Service Interactions
Service data benefits teams beyond the service organization. Sales and account teams can be empowered with historical customer usage and service data, and the Winter ’22 release includes a number of features to support better interactions between sales and service.
“Connected asset and service data holds insights far beyond the service department, providing a better business lens for almost every other line of business. If understanding the customer is key for both sales and marketing, then surely, they should have access to the customer usage data of the equipment they’ve purchased.
Offering salespeople proper visibility into service and asset data means they can do their job more effectively and drive revenue for the organization. Seeing which customers don’t have attached service contracts, which customers are up for renewal, if assets are nearing end of life, if assets are highly utilized: all this information lets salespeople identify any potential upsell, cross sell, renewal and upgrade opportunities. And arming them with this data helps them make the sale.” – Joe Kenny, VP of Global Customer Transformation at ServiceMax, Business Computing World
Empowered with asset and service data, sales and go-to-market teams can drive upsells, have better renewal conversations, and run targeted campaigns against the installed base.
To enhance sales and service interactions, Winter ’22 includes these key features:
- Service Contract APIs. These new APIs serve as a bridge between CPQ and Asset 360. Developed with Salesforce to ensure accurate data transfer between Revenue Cloud and Asset 360, the Winter ’22 release includes a set of APIs that streamline and automate the complex process of creating and managing service contracts from a sales contract, ensuring that the services offered, coverage and pricing terms, and SLAs are accurately reflected in the service contract.
- Renewal Insights. Renewal Insights is a packaged dashboard and is an addition to the many out-of-the-box reports included in Asset 360. With Renewal Insights, sales teams, account managers, and customer service agents can see the historical performance of a contract at-a-glance, including customer savings and services consumption. This empowers customer-facing teams to have more informed interactions with the customer and drive more fruitful renewal and upsell conversations.
- Product Service Campaigns Enhancements. Leveraging the same functionality that enables our customers to efficiently execute field change orders and recalls by quickly identifying and taking action on a specified search of assets, Product Service Campaigns now includes two new output delivery methods: Create Opportunity and Create Asset Notification. These new delivery methods enable service leaders and sales teams to run targeted upgrade, incentive, or upsell campaigns into the installed base by generating Sales Opportunities or Asset Notifications for direct follow-up.
Service leaders need access to timely data to run a successful service organization. Understanding key performance metrics and tracking them in real time is imperative to identifying strengths and improving weaknesses in service operations.
The Winter ’22 release includes dashboards that surface actionable insights such as Cost-to-Serve and Service Profitability.
These data dashboards allow service leaders to analyze service operations, take corrective actions on aging product lines or pricing gaps, flag quality trends, and improve strategic planning.
- Cost to Serve. Released in beta in Summer ’21, this dashboard becomes GA in Winter ’22. Powered by Tableau CRM, Cost-to-Serve tracks cost breakdown across assets and at the component level and helps identify areas of improvement. By making cost transparent, service organizations can confidently decide on specific measures and take the right steps to increase their profitability.
- Service Profitability Indicator. Complementary to the Cost-to-Serve dashboard, Service Profitability Indicator allows you to monitor service profitability by product, contract, location, asset, and more. Service leaders can drill down into real-time profitability analytics and compare expected vs. actual margins on their service contracts and take actions to maximize their margin.
Improving Asset Data Visibility
We continue to add features that improve asset data visibility. Asset Service Coverage is a new feature in the Winter ’22 release that provides entitlement and coverage information on the browser, in the field technician app, and in the customer portal.
Asset Service Coverage helps customer-facing teams have more productive customer conversations, enables the on-site field technician to select the correct entitlement for work orders, and empowers customers to keep track of their coverage details via the self-service Customer Community.
Mobile Best Practice Flows
Winter ’22 includes 2 new best practice flows for mobile, on the Salesforce Field Service mobile app.
- Field Return and Depot Repair is a packaged mobile best-practice flow that enables technicians to track assets and parts for returns and depot repair. While at a customer site, a technician can use a mobile device to directly initiate an asset return for depot repair while tracking the asset from acceptance through the depot repair lifecycle, without having to separately initiate a return order through the customer service or call center team. The technician can also select which depot repair center to send the asset to from a list of nearby depot repair centers.
- Capture Competitive Assets is a mobile-enabled flow that allows on-site technicians to capture and record upsell opportunities and competitor assets in the field for sales follow-up. This takes advantage of competitive upsell and conversion opportunities that otherwise may be missed due to a lack of data or competitive information.
Templatized Approach to Service Contracts and Maintenance Plans
Automating time-consuming tasks like contract and maintenance plan creation saves time, minimizes errors, and increases the productivity of service teams.
Winter ’22 includes enhancements to Service Contract Plans and Maintenance Plan Templates that allow customers to define templates for service contracts and maintenance plans, configure the automation of service contracts down to the line-item level, and attach Maintenance Plans to Service Contract Plans.
Learn More About the Winter ’22 Release
The Winter ’22 Product Release Live webinar is now on-demand. Hear from ServiceMax product managers and field service experts on highlights of the Winter ’22 release as well as the future Asset 360 roadmap.