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FieldWeb targets $2 million revenue as it focuses on SMEs

Application is growing at 45% month-on-month

FieldWeb, a Field Services Management (FSM) application by CoreField Technologies built primarily for small and medium businesses, is growing at 45 per cent month-on-month. FieldWeb aims to provide SMBs with a value-priced, easy-to-use application with multilanguage support available for all mobiles and that works well on low network configurations.

“Our vision is to build a vertical SaaS ecosystem for the field services industry. We are bringing about a change by digitising the way all small and medium businesses in the Field Services industry manage, generate leads, market, sell, recruit, finance, invoice, get paid, and organise their businesses,” Amit Dhawan, founder and director- FieldWeb, told Khaleej Times in an interview. “Looking at the current scenario and the response of our target customers, we are aiming for $2 million in annual recurring revenue of total turnover in the next financial year,” he added.

FieldWeb is especially designed for business owners to track and manage their field business operations digitally. FieldWeb offers a large set of features such as real-time task scheduling, annual maintenance contract management, accounts management, asset management, customer relationship management, income and expense management, the customer app, report generation, etc. to ensure smooth operations and overall management to optimise field services.

“Our target audience is any field business owner who has field service technicians who go out to the customer’s place and provide services. For example: HVAC, AC Services, RO Purifiers, CCTV & Security, Printer Repair, among others.

Currently, FieldWeb is targeting India and the Gulf markets. In the next phase, we plan to expand in the Indian sub-continent, the USA, Canada, the UK, and Southeast Asia in the coming years.

The Field Services Management (FSM) industry is experiencing several trends that are shaping the overall industry’s landscape.

According to Dhawan, a few of the latest trends are:

Mobile field service: The shift towards mobile solutions continues to gain momentum, enabling technicians to access information, update job statuses, and communicate with the back office all in real time using smartphones and tablets. According to a survey by Capterra, 90 per cent of FSM software buyers are looking for mobile capabilities in their solutions.

IoT and connected devices: The Internet of Things (IoT) has made its way into FSM, allowing for the integration of connected devices and sensors. This enables proactive maintenance, real-time monitoring, and predictive analytics. A new research by Markets and Markets predicts that global IoT in the field service market will reach $5.1 billion by 2026.

Artificial intelligence (AI) and machine learning (ML): AI and ML technologies are being leveraged to optimize field service operations. These technologies can automate scheduling, predict equipment failures, and provide intelligent recommendations for technicians. According to Gartner, by 2025, AI will be integrated into 50 per cent of FSM software solutions.

Augmented reality (AR) and virtual reality (VR): AR and VR are being used to provide remote assistance, virtual training, and interactive visualizations in field service. These technologies enhance troubleshooting, reduce travel costs, and improve the overall customer experience. The AR market in field services is projected to reach $2.6 billion by 2026, as estimated by Markets and Markets.

Data analytics and predictive maintenance: The abundance of data generated in FSM operations is being harnessed for data analytics and predictive maintenance. By analyzing historical data, patterns, and trends, businesses can optimize maintenance schedules, reduce downtime, and improve asset performance. A report by the Aberdeen Group states that companies implementing predictive maintenance experience a 20 per cent reduction in maintenance costs.

FieldWeb caters to more than 50 industries. A few of them include HVAC, AC services, lifts and escalators, RO purifiers, cable service, CCTV & security, printer repair, plumbing services, and computer repair, among others.

Dhawan said several business owners and fieldworkers in the UAE use the app while creating 1,000+ tasks every day. The high engagement has resulted in more than 25 per cent revenue growth, a 27 per cent decrease in customer churn rate, and a 32 per cent increase in workers’ productivity. The solution by FieldWeb is specifically designed to streamline processes, reduce costs, and improve customer satisfaction for all small and medium business owners worldwide.

Dhawan feels that in the Gulf region, there is a significant market for field service business owners who continue to operate their businesses in a manual fashion. “Unfortunately, this traditional approach often leads to several inefficiencies, improper staff and customer management, and ultimately, a loss of potential business opportunities. The primary reason behind this manual operation is the lack of affordable digital solutions available to these businesses. As a result, they are unable to transition from their outdated processes to more streamlined and efficient methods,” he said.

Recognising this challenge, FieldWeb offers a tailored solution designed specifically for small and medium-sized business owners in the Gulf region. “Our goal is to help them digitise their operations in a cost-effective manner. By leveraging our platform, businesses can streamline their processes, reduce costs, and significantly improve customer satisfaction,” he added.

The revenue model of FieldWeb is based on a subscription model. FieldWeb’s pricing in the UAE market has been $12 per user per month and is billed annually.

FieldWeb has robust plans to strengthen its presence in the Gulf markets. “Our initiatives include market penetration through targeted campaigns and partnerships, enhanced localisation to cater to regional needs, proactive customer engagement and support, strategic alliances with local partners, and continuous product development to stay at the forefront of field services management technology,” Dhawan said. “With the increase in the number of clients, we also plan to set up FieldWeb offices in the Gulf markets soon,” he added.