What’s Your Breaking Point?

SimPRO Industry Bundled Program

Sept 1, 2022

In tough economic times, total trade business software can help you weather the storm and remain confident in your business.

If you’ve ever learned how to ride a bike, a surfboard or even tried your hand at yoga– you know how difficult it can be to find balance. You can focus on a fixed point in the distance and shift your weight around all you want. But at the end of the day, there are often things out of your personal control that can send you tumbling.

We’re all experiencing what it feels like to be thrown off our balance right now with looming economic uncertainty.

If this uncertainty has already impacted your business, you’re not alone. How can your business continue to thrive in the face of challenges out of your control?

To start– focus on what you can control.

Below are the major three issues electrical businesses like yours are facing right now.

1. Cost Control

We all know that inventory is an up-front cost. And bad inventory management can be even more costly for your business. Are you able to see which materials you have in stock? Do you know where those materials are located? These sort of unknowns cost your business even more money. You also run the risk of having to rush to order more materials if what you have in-stock has already been taken to a jobsite. On top of that, suppliers will most likely overcharge your business because you were not able to plan ahead.

2. Visibility & Profitability

Visibility is important beyond inventory. You also need to have visibility into how you collect payment once the job is complete. Sending invoices and collecting payment on-time is a huge reason many electrical businesses struggle to report profitability. Not knowing when you will receive payment disrupts cash flow, and means you’ll need to take more money out of your pocket just to take on the next job.. When considering which jobs to take and how to prioritize them, have you also taken a look at which jobs are profitable and which ones you lose money on?

3. Efficiency

It is obvious that taking on jobs that are less profitable is inefficient. But have you thought about where else your business is inefficient? If you are operating your business with pen and paper or with multiple softwares, you are likely wasting time and money on administrative tasks. With these systems, you also might be paying even more for your administrative employees to chase down payments you still haven’t received for completed jobs.

Do any of these issues around business operations sound familiar to you? There’s a better way. simPRO is a total trades-business software that replaces time-consuming pen and paper or spreadsheets with one end-to-end solution to manage your business.

● Get greater visibility over the materials you have in stock and know where to locate
them.

● Quickly collate important data. Customize and schedule reports. Gain valuable insights.

● Streamline workflows. Enhance visibility. Increase growth potential.

You don’t have to face these challenges alone. Let’s face tough times together, head-on. Visit simprogroup.com or call us at (855) 338-6041 to schedule your free customized demo today

Related Articles


Latest Articles


Changing Scene

  • Electrozad Welcomes Jason McFarland as Windsor Branch Account Representative

    Electrozad Welcomes Jason McFarland as Windsor Branch Account Representative

    December 2, 2022 Jason McFarland joins Electrozad as an Account Representative at their #Windsor branch and will be a key point in developing relationships and accounts focused on Industrial Manufacturing/OEM’s. Jason studied advertising at St. Clair College and holds several Sales Certifications. He brings with him several years experience as a marketing coordinator and sales account manager. “My… Read More…

  • Southwire’s Latest Copper Rod Plant in Carrollton, Ga. Nears Completion, Production to Boost by Roughly 10% Annually

    Southwire’s Latest Copper Rod Plant in Carrollton, Ga. Nears Completion, Production to Boost by Roughly 10% Annually

    December 2, 2022 As part of more than a billion-dollar modernization commitment across its footprint, Southwire is nearing the completion of construction on a new, state-of-the art copper rod plant in Carrollton, Ga. The new plant replaces an aging, 40-year-old facility and will increase copper rod production by at least 10 percent annually. “Our goal… Read More…

  • Ontario Finalizes Electrification and Energy Transition Panel

    Ontario Finalizes Electrification and Energy Transition Panel

    December 2, 2022 Ontario is planning for the long-term reliability and affordability of the province’s clean energy supply by appointing the remaining members of the Electrification and Energy Transition Panel. Recently, the province appointed Dr. Monica Gattinger and Chief Emeritus Emily Whetung, former Chief of Curve Lake First Nation, to the Panel, where they join… Read More…

  • Skills Ontario’s Jennifer Green Win’s Apprenticeship Award

    Skills Ontario’s Jennifer Green Win’s Apprenticeship Award

    December 2, 2022 Skills Ontario is pleased to support the Colleges Ontario Premier’s Awards and congratulate Jennifer Green for winning the Apprenticeship Award at the annual Higher Education Summit in Toronto on Monday. There were 126 nominees in total across seven categories. As the only woman in her Industrial Mechanic Millwright program at Conestoga College,… Read More…