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Fire and Life Safety

2024 Operational Benchmark Report

The updated ServiceTrade Benchmark Report shows fire and life safety contractors how they stack up against industry peers.

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Dive into the operational performance data that’s most relevant to your business.

Compare your:

  • Revenue growth
  • Jobs completed on time
  • Days to Invoice

and more.

Year-Over-Year Revenue Growth

Data: Top performers grew YoY revenue by 33.2%.

Insight: Top performers grow 2x faster with better operations.

Best Practices: Prioritize value over volume. Schedule more proactive repairs. Accelerate cash flow.

 

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How Top Performers Use ServiceTrade to Grow 2X Faster
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On-Time Completion Rate

Data: Top performers completed 85.6% of jobs on time.

Insight: Higher on-time completion rates were not correlated with higher revenue growth rates, indicating that completing more jobs on time is not a path to revenue growth. Prioritizing jobs with higher revenue potential on your schedule is a more impactful strategy.

Best Practices: Fully utilize your technicians. Prioritize work orders by revenue. Set and manage dollars per day goals. 

 

Pull-Through Work Rate

Pull-through work includes repairs, upgrades, replacements, and installations that come from recorded deficiencies.

Data: For top performers, 19.5% of all work orders were pull-through in nature.

Insight: Pull-through work rate top-half performers grew 2x faster.

Best Practices: Find more deficiencies. Quote repairs faster. Make it easy for customers to approve quotes.

 

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The Deficiency Efficiency Guide: 5 Steps to Higher Revenue and Safer Facilities
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Days To Invoice

Data: Top performers invoice customers within 1.6 days.

Insight: YoY, commercial contractors are billing 20% slower.

Best Practices: Pre-bill when possible. Automate pricing contracts. Prioritize invoicing by revenue. 

 

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How ServiceTrade Helps You Streamline Operations and Speed Up Cash Flow
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Ready to see how ServiceTrade can help you be a top performer?

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