Customers in the region are becoming increasingly demanding when it comes to service quality and speed.

New research from IFS, global enterprise technology firm, examines the challenges faced by asset service providers across Australia and New Zealand.

The study found that these providers are facing a number of key pain points, including difficulty in attracting and retaining skilled workers, ageing infrastructure, and increasing customer demands for faster service and higher quality.

One of the major challenges identified in the research was the shortage of skilled workers. The study found that a vast amount of asset service providers in the ANZ region are struggling to find and retain workers with the necessary technical expertise. This is particularly problematic given the ageing workforce in the industry and the need for specialised skills in areas such as automation and digital technologies.

Many asset service providers in Australia and New Zealand are dealing with equipment and systems that are reaching the end of their useful life, which can lead to increased maintenance costs and downtime. Warren Zietsman is the Managing Director of IFS (Australia and New Zealand) and highlights how to combat any significant impacts on customer satisfaction and revenue for the year ahead.