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Still Accounting In Spreadsheets? Here’s Why Your Competition Isn’t

Posted on by Matt Bernot

Oh, the monotony. Unless you truly enjoy the thrill of filling out spreadsheets in triplicate, there’s a better way to handle your business’s accounting needs. The old ways have probably worked good enough for you thus far. But as your business grows, you’ll outgrow what spreadsheets can do for you. They are simple, familiar, and often free of charge. All of that is very appealing—until you need more.

As with many “free” services, the cost of dealing with issues can be much higher. What happens if you experience a security breach? What if there’s a technical malfunction that leaves your finances frozen?

Though it may seem like an insurmountable task to redirect your entire financial flow, it’s not impossible—in fact, it’s easier than ever. And the benefits are wide-ranging. You’ll be able to save time, money, and valuable resources. Let’s take a look at the ways your business can utilize modern financial planning software:

From Spreadsheets to Savings

Though there are many benefits of cloud accounting software, we’ll start with the most important one—how much money you’ll save. Granted, most spreadsheet-making software is probably of little or no cost to you. So where do the savings come from?

Ultimately, the cutting down of excess labor and wasted time will allow you to spend more time generating revenue. Say goodbye to manually inputted complex formulas, misplaced decimal points, and costly accounting firm rates. Cutting down on financial data miscalculations and the cost of extraneous outsourcing will improve your bottom line. According to Forbes, your cost of labor can be reduced by up to 50% with the help of cloud accounting.

Beyond that, you won’t have to worry about making a large dent in your bank account on day one. Subscription based models are common just about everywhere these days, and SaaS accounting is no exception. 

Financial Tracking for Growing Businesses

One spreadsheet can typically only handle one income stream. This simply won’t cut it. As your business evolves, you need a software that will be able to adapt to the complex revenue streams you’ll build—not one that forces your business into a corner with its simplicity..

One of the biggest benefits of taking your accounting to the cloud is that the hardware required to run your operations doesn’t need to be stored onsite. No need to worry about expanding the server space within your facility as your business flourishes. Sometimes, certain software systems simply aren’t built to handle data at large capacities. Make sure the system you choose is built to be there for you no matter how your business demands grow and change. 

Cloud Accounting Is Safe and Secure

Security is always one of the largest concerns that business owners have when they are considering a change in accounting software. 

The good news is that SaaS accounting software is much safer and much more reliable than traditional, in-house accounting methods. While it certainly takes a group effort to combat cyber threats these days, software can lend a huge helping hand. As your data moves to the cloud, it goes through layers upon layers of encryptions and redundancies. Put in layman’s terms, it is protected by millions of complex passwords at once while automatically being backed up in numerous places.

See what can happen to businesses that are not up to par:

Microsoft reports that 91% of small and medium sized business owners said the security of their organization was positively impacted after switching to the cloud. Entrusting your financial records to a new party is never something to take lightly. But with the right cloud accounting software, it is almost assuredly safer than the current methods you are using. 

Eliminating Divisional Silos

More likely than not, your business has divisions that have varying degrees of autonomy. And even more likely, communication between the various silos of your organization doesn’t always materialize as you hope it will.  

While maintaining an open and communicative culture doesn’t fall under the general responsibilities of the accounting department, accountants can play a crucial role in that process. The best cloud accounting software will allow you to seamlessly integrate data from all of your businesses branches and divisions.

A business that seeks to foster a collaborative and growth-filled environment needs to first ensure that its accounting division is able to communicate with all other divisions while maintaining a big-picture vantage point. At the end of the day, if your money isn’t in sync, nothing else will be.  

Software Support Needs To Shine

Just as your employees grease the wheels of your business, the people behind the accounting software you choose need to be as impressive as the software itself. No system is ever perfect, and glitches always rear their ugly head—having a software support team ready and waiting for you is more important than ever.

Besides responding to issues, you have the benefit of using a software that is constantly being upgraded and debugged. New releases don’t come in the form of a single download once or twice a year—a talented support team works on improvements every day. The best software support will even tailor features based around your specific needs.

Your money isn’t something to mess around with. By taking the necessary steps to upgrade your accounting systems, you’ll be able to ensure that a team of software experts has your back so that you never miss a beat. The best financial planning software and its support team needs to account for everything that could possibly cross your path—and then some. 

Finances Made Easy

You’ve worked too long and too hard to have your money flowing in any way that is less than optimal. Sure, you’re probably doing fine. In 2020, “doing fine” is surely not something to take for granted. But the problems of this year won’t just dissipate on January 1st—there will always be new challenges to face as the years march on. Make sure that your business is ready to handle anything that the future brings your way. 

Here’s What the Future of Manufacturing Will Demand From You

Posted on by Matt Bernot

In the 21st century, technological and societal change is increasing at an exponential rate. Just as each generation of manufacturers before you faced obstacles unique to their era, you face challenges that are unique to yours.

The future of your manufacturing operation relies on finding the most efficient ways to overcome these challenges. As you face them head on, remember that your success rests on your ability to do the following:

  • Establishing a pipeline of young, motivated, skilled workers that you are able to maintain productive and open communication with—and who can effectively coexist with the senior members of your team.
  • Investing in advanced manufacturing technologies in order to stay ahead of the competition.

Establish Intergenerational Partnerships

“Fifteen hundred years ago, everybody knew that the Earth was the center of the universe. Five hundred years ago, everybody knew that the Earth was flat. And fifteen minutes ago, you knew that humans were alone on this planet. Imagine what you’ll know tomorrow.”

– Agent K (Tommy Lee Jones), Men In Black, 1997

People from different generations see things from different perspectives. They have different areas of expertise, different methods and strategies, and different norms that they subscribe to. This is great for your business. By unifying diverging skill sets, you’ll be able to bridge vital knowledge gaps within your business. Your older workers will become increasingly tech savvy, and your younger workers will gain insight into the value of emotional intelligence and intrapersonal networking.

By implementing the proper systems, you can facilitate this exchange of information and ideas from anywhere. Some easy actions you can take today would be to:

  • Assign projects to generationally-diverse teams.
  • Set quarterly goals for your employees to train in areas where they may be knowledge-deficient.
  • Create an online environment where ideas can flow freely.

As you bridge the gap between your employees’ skill sets, you’ll find solutions for problems that could not have been solved otherwise—or perhaps you didn’t know existed.

58% of field service professionals say their top pressure is competition.  As you know, your business isn’t the only game in town. With the field services industry gaining traction each day, it is your responsibility to separate yourself from your competitors.

Stress the importance of having an open mind and being receptive to alternative perspectives—your team will be more productive and prepared for the future. With each passing day, the foreign will continue to appear less and less so.

Transform Your Tech

Manufacturing plants don’t have the same ideological, creative flair that places like Silicon Valley do, but that doesn’t mean that your business can’t be optimized for the 21st century. With younger generations of workers being drawn to places with shiny veneers, your business—and industry as a whole—needs to keep up.

Advanced robots, wearable devices, and real-time data integration software are not only profit-generating tools, they are vital recruitment tools. Workers that are able to see state-of-the-art technology being used in practice will be drawn in. 

Make sure that your employees know that you’re putting your best foot forward. Advanced manufacturing technology—that is easy to use—will let you keep product planning in scope, distribution and logistics running smoothly, and production scheduling punctual. 

Using the most advanced technology at your disposal is in the best interest of your business. It will also send a message to your employees—and future employees—that you are striving to work at peak efficiency. 

Price Out The Competition

Young people want excitement in their professional lives, and are often willing to sacrifice more than previous generations have in order to achieve that. But don’t misconstrue this—they still want to get paid.

The average salary of manufacturing workers in the United States is $63,295. With an above-average payscale compared to other American industries, this is something that you can use to your advantage. Money is not the end-all-be-all factor that it used to be, but it goes without saying how beneficial offering above-average salaries can be when attempting to attract the best talent around. 

Benefits of continued optimization and development of technology will only allow you to increase the wages you offer. Investing in technology to streamline your supply chains from start to finish allows you to invest in what really matters—American manufacturing jobs. 

Don’t Stop Innovating

Stagnation is not a tried and true method of success. As humans, we have a tendency to stick with what works. It’s a natural survival skill. But as time continues its march onward, it’s up to you to make the necessary operational changes to avoid being left behind.

The future arrives one day at a time. As you strive for a more collaborative, high-tech, and competitively compensated work environment, ask yourself what you can do today to make that  a reality. Infrastructure doesn’t appear out of thin air—the first step is finding systems that will work for you.

The world keeps turning and technology keeps evolving—your business needs to be fluid, mobile, and responsive. Investing in systems that put your business in a position for long-term success is the first step in preparing for whatever flavor of change comes next. Your products, systems, and technology will continue to change. Your staff will change. Your business model may even change. Change is as inevitable as the sun rising each day—make sure your business treats it as such.  

Building and Maintaining a Trusted Team of Technicians

Posted on by Matt Bernot

Right now, many businesses in the American economy are taking a page from the field services playbook. Employees are scattered across county lines, customers require an inflexible degree of personalized—and safe—service, and remote technology has become a requirement. As field service businesses continue to adapt to these trends, one thing becomes clear: it’s more important than ever to find and retain trusted technicians.

No matter what type of service you provide, your business relies on trust. Your technicians are an extension of your business—you’re trusting them to execute the goals you’ve set out to achieve. Their professionalism—or lack there of—will represent your business in the eyes of your customers. In fact, for your customers, your technicians are your business. As customers are increasingly diligent about who enters their personal space, your technicians need to be more reliable than ever.

Professionalism is a controlled variable. It’s a practice that your employees have the ability to engage in at all times. But even for the most professional workers, uncontrollable errors and discrepancies always find a way to seep their seedy fingers into your plans. No business, industry, or human being is immune to that. What you can control, however, is how well you prepare your technicians for the task at hand and how in tune you are with the progress of each job so that errors and discrepancies can be kept to a minimum.

By using the best tools at your disposal, you can be sure that you’re doing everything in your power to plan for success while preparing for the inevitable hurdles that pop up alothe way. With the proper field services management software, you can: 

  • Dispatch the right employee to the right location at the right time.
  • Track the status of each job.
  • Improve your hiring process.
  • Get new employees up to speed without sacrificing additional resources.

By knowing how each of your employees work best and by clearly defining their roles, you can confidently manage from a distance knowing customers are being optimally serviced.

Your Technicians Are Your Ambassadors

Your primary focus as a business owner is to generate revenue by means of continued customer satisfaction. The most prominent impression that your business will leave on customers derives from the experience provided by the field technicians who provide services in homes and workplaces every single day. It’s not just where satisfied customers come from—trustworthy service leads directly to referrals.

So what is the best way to facilitate the web of trust between you, your field techs, and the customer? It starts with adapting a mindset of personal responsibility. As a business owner, show your employees that trust and transparency is a two way street. They may be hesitant about being monitored on a granular scale out of fear of being micromanaged—avoiding micromanagement is very important—so allow them to gain insight into your workflow, too.

Establish the idea that transparency is in everyone’s best interest. It won’t happen overnight, and it certainly won’t happen without investing in the proper resources. By investing in technology that will empower your employees to work their best, they’ll reciprocate by investing themselves in their work. While the process of establishing trust starts with you as a human being, here are some ways that technology can be a means to that end:

Outgrow Your Old Organizational Habits

“By failing to prepare, you are preparing to fail.” Though Ben Franklin specialized more in politics than field service management, he had his hand in creating Philadelphia’s first fire company—talk about the importance of prompt and successful service in the field.

People don’t prepare and plan in the same ways. Some of your employees are apt in seeing your business’s larger picture and are able to efficiently plan their days—or weeks, or months—accordingly. Others need to take a much more gradual approach, hour by hour. As their boss, you should know as much about their work habits.

With the right field services assistant app, your technicians can have a schedule optimized for them. Assign tasks tailored to each employee based on their certifications, performance history, and—often most importantly—their current geography. Prompt service leads to pleased customers. 

With the right field services assistant app, your technicians can have a schedule optimized for them. Assign tasks tailored to each employee based on their certifications, performance history, and—often most importantly—their current geography. Prompt service leads to pleased customers. 

Sometimes organization will come in the form of mapping out quarterly goals; other times it will take the shape of breaking down days hour by hour. Regardless of the timeline, give your employees performance reviews and feedback. Beyond putting your employees in direct position for success, you’ll be able to maintain a flexible, universal calendar that you can adjust on the fly. This level of maneuverability that you’ll have at your disposal ensures that nothing slips through the cracks. 

Planning For Growth and Turnover

While your goal is certainly to spend more time onboarding employees than offboarding them, cloud technology will give you the tool kit to prepare you for both inevitabilities. More likely than not, the methods and systems you use to hire your personnel is not integrated into the rest of your business’s technology. Considering the importance of hiring the right people, shouldn’t this process be in sync with the rest of your operations? With proper field service management software, it is.

58% of field service professionals say their top pressure is competition.  As you know, your business isn’t the only game in town. With the field services industry gaining traction each day, it is your responsibility to separate yourself from your competitors.

As your business grows, make sure that your hiring technology has a leg up on the competition. Offer your candidates unique skill assessments tailored to your business’s real day-to-day needs, not just cookie cutter interview questions. Once you make the right hire, streamline their training within the same system so that they aren’t overwhelmed on day one. The premise is simple: a better hiring process makes your business stand out amongst the competition. 

At the end of the day, if you do right by your employees—past, present, and future—they will do right by you and your business. The more you invest in these processes, the more your business will gain.

Ask About Their Needs

Take the time to ask your employees questions. Ask them what they think they need to have a more productive workday, what they like and dislike about their current role, and—the most difficult of all—ask them what changes they want to see from you, their boss. It’s nearly impossible to build trust without having the truly tough conversations. 

Tough and awkward conversations are best handled delicately. It might behoove you to use the technology at your disposal to send personalized questions and surveys to your employees digitally as opposed to asking them from across a desk. Odds are both of you will feel more comfortable this way—you may even receive more honest feedback.

By being empathic and open with your employees, they will feel better about the work that they do. If you made a decision that didn’t pan out, own up to it. Show your employees that when things go south, the best path forward is to learn from the mistake and move on. Walking the walk of vulnerability and personal responsibility will trickle down to the way your employees handle themselves, ultimately fueling the fire of productivity. 

Dispatch With Confidence

Each job that you tackle will come with its own unique challenges. Sometimes jobs will go smoothly, and sometimes they will be a bit hectic—Murphy’s Law bets on the latter scenario. When trouble arises, count on your software to be there for you. When you’re able to have a uniform system that your employees can lean on 24 hours a day, they will be empowered to do their best in their respective roles. And while no one employee will determine the outcome of your business, the collective effort of your empowered and trusted employees will allow your business to adapt to all of the challenges that lie ahead. 

Trust is fragile—it takes time to build, but it can break down almost instantaneously. Utilizing the technologies at your disposal to lay the groundwork of success is necessary, but lasting success ultimately lies with you and your employees putting trust in each other. Stay diligent in your efforts and true to your process—help your employees be the best they can be.