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INFOGRAPHIC: Energy & utilities sector suffering from 8% service contract leakage

On average, 17,987 work orders are unaccounted for annually – representing millions in lost revenue.

That’s according to a new piece of global research, “The Rise of Asset and Service Data Gravity”, conducted by Vanson Bourne, commissioned by field service management specialist, ServiceMax from GE Digital, which asserts that service contract leakage in the energy and utilities sector remains unnecessarily high.

In addition to missing service work orders, representing millions in lost revenue across the industry, the report says there’s a growing desire for the Energy and Utilities sector to move to servitizstion – also known as outcome-based services.

By integrating services with products, it says, companies can create bundles that are of greater value than products alone.

Here’s the full infographic: