Word Glossary

The Klipboard Field Service Glossary

This Glossary will help you keep on top of trendy new buzzwords, commonly used jargon and introduce you to some new technology that will benefit your business.

This list will help you better understand terms you’ll come across and give you some ideas on how to grow your business.

All | A B C D E F H I J L M N O P R S T V W
There are currently 2 names in this directory beginning with the letter N.

Net Zero
If you work in building services or Facilities Management you'll come across the phrase Net Zero.

It is a global initiative to reach net zero emissions by 2050. To achieve net zero businesses will need to consider the impact their business is having on the environment and take actions to reduce carbon emissions.

Many businesses are already looking to renewable energy sources to power their business or create environmentally friendly places of work. Field Service engineers who work in industries supporting these businesses will need to consider how the assets and equipment they maintain and service for their clients will change over the next few years.

Environmentally conscious business owners may review the impact their business partners and suppliers have on CO2 levels. Successful Field Service businesses of the future may need to review their own processes and choose to work towards the common Net Zero goal.

Not to Exceed (NTE)
In Financial contract law Not to Exceed or (NTE) is the predetermined maximum cost for products and services or the maximum time spent on the project as quoted by the Contractor. The agreed costs assume the scope of the project does not change.
Occasionally this might be written at Time and Materials agreements (T&M). Many Field Service businesses prefer the Fixed-fee project costing approach, as the T&M or NTE model imply a shared risk. If things change on a project or the client decides to add the the score the client will incur further costs based on the additional time and not the end result.

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