Let’s say you have the opportunity to start a contract for two different types of jobs in the same time frame. With resource and time constraints, you may only be able to move forward with one of the jobs. Or, you might be able to complete both.
How do you make your decision? Well, the more information you have, the better decisions you are able to make. If you know which of the jobs would generate a bigger profit, which of the jobs you already have materials for and exactly how long each job will take, you’ll be better equipped to make a good decision.
You likely already have this information, but do you have a quick and easy way to gather these details? This is where reporting tools come in handy. In simPRO, you can generate standard reports to make sense of your business data and quickly make informed decisions.
During the COVID-19 outbreak, it is even more important to be able to make strategic decisions as resources may be limited. Here are five simPRO reports that will come in handy for informed decision making during a crisis.
1. Supplier Back Orders report: In a time where shipping disruptions are more likely than usual, view which of your materials are on backorder. You may need to adjust the jobs you are able to commit to at this time based on the inventory that can be easily replenished. The Supplier Back Orders report is especially helpful for inventory managers to identify materials that are causing jobs to delay or reconcile purchase orders with outstanding.
2. Customer Contracts report: With disruptions presented by COVID-19, you may have changed your hours or your methods when you arrive on site. You can use the Customer Contracts report to see which contracts are open to determine which customers may need some additional communication around service changes.
3. Contract Profitability report: If your business performs maintenance work, use this report to gain a better understanding of the amount of profit or loss generated by recurring contracts at any stage. You’ll be able to see a breakdown of the material costs, labor costs, overhead, the amount invoiced and then the gross or net profit. If you are operating with reduced resources during lockdown, you can use this information to be more strategic about which contracts you choose to take on.
4. Monthly Breakdown report: COVID-19 has lasted much longer than many business owners anticipated. As you take steps to move forward after the effects of this pandemic, use the Monthly Breakdown to analyze any turnover by cost center and receive a full picture of where your business stands.
5. Profit/Loss Summary report: Similar to the Contract Profitability report, the Profit/Loss Summary report allows you to review the success of your past jobs so you can make more profitable decisions. After an invoice has been created for a job, you can pull it into this report view the costs involved and the profits gained.
Rather than digging through files to attempt to make sense of your business data, generate reports in simPRO to save time and confusion. simPRO reports are just one of many features that can help you navigate the business challenges presented by COVID-19.
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