Over and over we hear the same thing in the marketplace - that companies want to be able to see what's going on in their business - NOW. They don’t want to have to wait to see what happened a month ago, last week or even yesterday - they want immediate insight into the day-to-day operations of their business. The good news is - it’s possible!
1. Having access to instant and complete information
Being able to capture your company’s information across all lines of business allows you and your management team to quickly and easily track revenues, costs and profit margins. It allows you to better manage your company and more easily assess its performance at any given time.
Cash flow would top most people’s list in terms of priorities when it comes to running a business, so it’s imperative that you are able to monitor your company’s cash flow allowing you to track growth, and also see what areas are in need of help. Business decisions can be made today, instead of next week or even next month, when data is captured in real-time.
2. Being able to track what’s important to you
When assesing where your business is at, don’t waste time with details that don’t matter to you - you need to see the critical information necessary to make decisions. Having a system that is specific to your industry and your company gives you the flexibility to see only what matters to you. Anything from field tickets, job costing, inventory management, and payroll can all be tracked with the touch of a button.
Does third-party billing get you in a pinch time after time? Make sure you have a system in place with integrated billing so you can make sure those expenses get billed back to your customer. What about project cost analysis? With the right system you can easily track every hour for every employee without even thinking about it, and see the right details when it comes to evaluating the profitability of your projects.
3. Getting 360-degree visibility
Visibility is key to the success and especially the growth of a company. Without clear visibility into your energy services business operations you often don’t have the insight to foresee problems before they occur, or the flexibility to respond quickly when new opportunities arise. You don’t know inventory levels are running low, or that excavator you think is sitting idle for a job you’re starting next week is actually already out at an existing job site. You can't see the effects an average 90 day billing cycle is having on your cashflow. 360-degree visibility allows you to see your business on every level – from broad views of the business as a whole, right down to the granular details. With this much visibility you can maintain control of your business, be more agile when it comes to responding to new opportunities, and maximize your profitability and the growth of your energy services business.
