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FieldSolutions Reports 50.6 Percent Revenue Growth in Q1 2011Significant Cost Savings Experienced by Clients Drives Them to Expand Their Work Volume With the Company (April 12, 2011)
MINNEAPOLIS, MN -- (Marketwire) -- 04/12/11 -- FieldSolutions (http://www.fieldsolutions.com) today reported that sales revenues in the first quarter of 2011, which ended March 31, 2011, were 50.6 percent higher than the same period in 2010. The company attributes its continuing rapid growth to high client retention, growth within existing clients, and the addition of several new clients.
FieldSolutions, which has one of the largest networks of independent electronics field service technicians in the U.S. and Canada, has been growing rapidly for several years. Mac Lewis, CEO of FieldSolutions, says that expanding their client base has helped reduce revenue variability while creating more predictable business volumes and revenues.
"Many of our clients that successfully implemented our direct-to-technician strategy over the past year are now steadily increasing their work volume with us to run rates exceeding $1 million annually," Lewis said. "Our field sourcing and service model offers them a significant cost savings, while they maintain the quality levels for their customers."
Highlights of FieldSolutions' first quarter 2011 include:
- Client Expansion: New clients -- less than two years old -- now contribute over half of FieldSolutions' revenues. Lewis said clients steadily allocate more business to the company when they experience such positive continuing business results.
- Service Operations Support Expansion: Clients increasingly use the FieldSolutions service team to enable them to expand and acquire new business. FieldSolutions provides "as needed" service operations resources for companies to support volume variability, and has expanded that range of services to include call center support and skilled technical help desk staff. Providing expert, variable service operations capabilities is a key differentiator for FieldSolutions. These services enable clients to deliver new programs without the need to build out costly new infrastructure.
- Growth in Specialized Market Services: FieldSolutions added more specialized field service resources in response to client requests. As a result, the company grew volume across a wide range of services beyond its core point-of-sale and commercial computer technology market services. Expanding service segments include residential computer maintenance, low voltage cabling, ATM services, WiFi router and telephony installations, and printer maintenance services. All FieldSolutions' technology segments experienced an increase in volumes.
- New Technology Deployments: Several significant technology enhancements were deployed in the first quarter, including "best in class" document and photograph dissemination, collection and retention; and user tools for technicians and clients enabling intuitive and speedy actions. In addition, FieldSolutions deployed API electronic interfaces with clients that manage their business via Oracle, Salesforce.com, and Remedy service management systems, enabling them to reduce operations staffing.
"The beginning of 2011 was an exciting new stage in our growth," Lewis said. "We added several new services and expanded our competency and capabilities across a range of business areas. Our direct-to-technician model is playing an increasingly more strategic role with our clients and within the industry because it helps companies expand and win new business."
About FieldSolutions, Inc.
FieldSolutions provides field technicians to large technology services companies in the U.S. and Canada through a network of more than 22,000 independent contractors. It offers comprehensive, low-cost services for global technology and service companies including electronics manufacturers, resellers and service providers. Committed to delivering high quality service, FieldSolutions has developed innovative programs to train, monitor and reward quality field service. FieldSolutions' independent technicians are geographically dispersed across the U.S. and Canada. For more information, call Marty Reader, EVP Sales and Marketing, at 952.288.2506 or visit www.fieldsolutions.com
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