With the end of financial year (EOFY) on the horizon most businesses in Australia will be looking to get a few things in order before July 1st. Whether it’s an EOFY sale for retailers; hosting corporate EOFY parties at bars and pubs; gearing up for a final big push for sales organisations; or looking for a charitable organisation who’d love to receive a tax deductible donation, there’s plenty to do.
But this time of year is also a golden opportunity to take a look at your business critically, and see what you can improve. With your year end reporting available, you can start the conversation with your advisor on how you can improve your business processes: whether you have room for growth and look to hire more talent, or you have opportunities to cut unnecessary costs, this is a great time to lean on the knowledge of the expert advisors.
One of the best assessments you can make at this time of year is to take a look at your software stack. What are you currently using in your business to automate processes, keep your staff and customers informed (and happy!), and save you time and effort?
When to look at changing business processes
Tradies work hard enough - with early starts, battling the elements, and hard physical work it’s enough to manage without having to fight against your admin too. Whether you manage it yourself, or you have help from a family member, there’s definitely better ways to do it than the traditional pen and paper, battered old diary, and texting out job details the night before they start.
Whether you need to manage your own multiple jobs, all the staff out in the field, or you’re managing a multi-stage project, there’s an opportunity to cut through the paperwork, simplify the communication, and keep your jobs on track, and clients happy. Not only that, but with the right info from the start, there’s no stuck jobs, no missing parts, and no wasted trips.
Key areas to assess
Clinton Cowin from TradiePad speaks from his own years of experience as a plumber before he moved into advising trade businesses on their technology:
“Technology isn't going away, especially in the trades and construction sector. We're seeing more and more software being specifically created for the industry and being used on site and it's evolving at an amazing rate. The sooner you jump on board the sooner you can start to reap the life-changing benefits that the right technology can provide, and EOFY is the perfect time to get started so you have a fresh set of books and operational data to go along with it.”
“If you're spending time doing invoicing and quoting at night.
If you're not taking payments in the field at the end of a job, and/or have debtor and cashflow issues.
If you're doing quoted work and you don't have the ability to measure your actual performance versus what you quoted/allowed.
If you're double handling your customer data, quotes, invoices or any type of business info.
If your business growth is out of control and you are struggling to manage your team.
If you don't have reporting and data analytics on the various aspects and segments of your business...
You need technology”
We asked Clinton to give us some insight into how this is applicable to a real business:
“One of our best clients (and now good mate) Ed from Frantom Building came to us with a real lack of visibility over his construction builds and was really struggling with keeping on top of the labour tracking and the costs/purchases on his projects. He'd looked at a mountain of software solutions and was confused about which one was right for him, so we analysed the real needs and pain points of the business and prescribed a combination of Google G Suite, Xero and WorkflowMax all running on iPhones and iPads.
He can now take on more work, has full control over the project financials, communicates better with his clients and is able to focus on growing his operations and building his team. He's now in process of exploring more technology solutions to work alongside this current system to give even more control and visibility over operations and provide exceptional levels of customer service. Technology has literally changed his life.”