Job costing tools can help businesses to understand their processes, profitability and costs much better, but that’s not where the advantages end. There are lots of ways that implementing the right tools can help your business to grow and smash goals.
Here are the top four ways that implementing job costing tools can make important changes to your business.
Make sure projects stay profitable
Job costing tools like WorkGuru.io can help you stay profitable on every project. That’s because not only do the tools let you plan out your project margins when you build them out, but also track how well you’re sticking to the plan.
Being able to see your profitability in real-time lets you course-correct to stay in the black on every job you do. With your team reporting what’s been done, what’s left to work on, stock and hours used and what’s been invoiced, you always have a great snapshot of how your projects going. If tasks take longer than expected, then you’ll be able to see that quickly and work to cut down on time before your project margins get eaten into too much.
Give accurate quotes confidently
Being able to clearly see your margins and costs before starting a project helps you quote your projects with much more certainty. While there are always unexpected changes and issues that occur, being able to start with an understanding of your margins is half the battle.
Plus, when you let job costing tools do the heavy lifting when calculating the project margins you are less likely to have mistakes caused by human error. You can also get quotes out the door much faster when you don’t have to build out every element from scratch and calculate the profitability in your head.
Tools to measure success
Because you can track everything that’s done, and see the results, it’s much easier to set and measure objectives for your business and team. Whether you’re looking to improve the margin on each project, cut down the time particular tasks take, or reduce the amount that projects go over budget, having job costing tools can make managing success much, much easier.
You are able to create SMART goals and know that you’ll have the data to accurately assess results, rather than relying on gut feel alone. It can allow you to reduce bias in assessing which of your team members are performing better.
When you have tools that track what’s done, how long it took and who did it allows your team more control over their own workflow. You might be surprised how much your team might procrastinate without even realising when they don’t have the tools to track their time. When you’re team can see how long tasks are taking them, they may self correct a lot more.
Not only that, but you might uncover opportunities for training and support for team members that are taking longer to complete tasks. On the flip side, if a team member is exceeding expectations you may uncover new ways to do things that the rest of your team can adopt to improve your efficiency.
Looking for the right tools for your business?
Job costing tools like WorkGuru.io can help you level up your profitability tracking and help you sleep easier. With job costing, stock control, CRM, timesheets and much more all in one platform, you can save time and money. Want to give WorkGuru.io a try? Get in touch for a free walkthrough and 14-day trial.
If you’re still assessing your options, take a look at our handy guide to find the right system, or reach out to one of our partners for a helping hand.