The good thing about better estimate is that they lead to more money in the bank. Losing profits is never a contributing factor. So having some basic understanding of job costing isn’t just desirable, it’s necessary.
In our recent study of self identified business owners, estimators, finance managers and accountants within the fence industry more than 73% said that two to three bad estimates could put them out of business. And 18% believed that just one bad estimate can do the same.
It’s not surprising why industry experts recognize the need for accurate job costing. It’s important but not simple. Struggles are there like estimating labor costs and unpredictable new clients etc. So what are the resources available to make this work easier?
Fence companies are behind the curve when it comes to adopting the latest technology. They are losing value as a result of waste.The current cost saving gaps can be closed just by switching from pen-paper to digital. Tech can help in job costing and profitability by easily keeping time records, estimating material costs and tracking product costs etc. With more accurate system like FenceERP in place fence companies will get more accurate outcomes. And job costing won’t be a pain!
Feel free to contact us if you need help integrating digital solutions in your fence business.