From XU Magazine, 
Issue 33

Help trade clients down tools and dig into data

5 reports for financial growth

Understanding the overall health and financial status of any business can be difficult without the right insights and reports. For your trade clients, day-to-day tasks involved in running service, project and maintenance work often keep them busy, so they rarely have time to look at data. But by not paying attention to data within their business, they are missing an opportunity for growth.
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Consistently dedicating time to review and manage business data enables your trade clients to identify workflow blockages, eradicate outdated information, pinpoint discrepancies in revenue and much more. As their expert advisor you can be the driving force behind this change, encouraging them to run these reports as part of their regular data analysis processes. 

Whether you have clients already using simPRO, or you’re new to the software, we’ve put together the  top five reports that are available in simPRO to help your trade clients take their business to the next level.

1. Price Discrepancies Report

This report helps monitor materials and supplier costs, and helps identify when your clients may need to switch suppliers to get a better price for them and their customers.  

Trades clients can review individual items on supplier invoices, such as price discrepancies, applied credits and updated pricing.

2. Stock Value Report

Stocktake is a time-consuming task for many businesses. Controlling the amount, location and type of inventory is a huge job in itself, then add to it the need to regularly account for the value of materials and you’ve got a big (and frequent!) headache for the business. 

The Stock Value Report helps track the value of inventory throughout the year. It displays an overview of the value of stock across all of your storage devices - including separate warehouses, work vehicles, and site locations.

Trade clients can also use the extended Report View to see the quantity and value of stock items according to part number.

3. Job WIP Report

Not every job progresses in a straight line from start to finish, especially right now, where there are frequent fluctuations in material costs. It’s important to be able to stay on top of job progress at every stage, as timeline disruptions cut into cash flow, especially if your trade clients don’t regularly invoice.  

That is where the Job WIP Report can help. It shows trades clients which jobs are partially or not yet invoiced, which helps identify issues early on so they can manage cash flow and other jobs accordingly.  

4. Profit / Loss Report 

Profit and loss analysis helps trades businesses assess their performance by reviewing the profit/loss status of invoiced jobs.

By evaluating profit and loss per job, you can help your trades clients understand: 

  • Which jobs are most profitable 
  • What common factor causes a loss on similar jobs 
  • Types of work that are most profitable for the business

These insights help them increase efficiency, save on costs and grow the business as a result. 

5. Customer Rank Report

Ranking customers by factors such as turnover, profit margin and average invoice value helps trades clients to understand which customers are their most (and least) loyal, and therefore,  most valuable.

Customer value is underpinned by customer engagement. The more engaged a customer is, the more loyal they’re likely to be and provide steady income - which in turn improves cash flow. This analysis also helps the business identify which customers they need to engage with more in order to maintain a good long-term cash flow position.

Data is the key to unlocking optimal operations management

Data-driven decision making helps trade contracting professionals improve processes and improve their bottom line. With over 60 reports available in simPRO to measure operational efficiency, there’s no better way to help your trades drive growth. 

If you’re looking for ways to add real value back into your trade client’s business, and get visibility of data and reports that will transform the way your trade clients’ make important decisions, contact us.

Why leave it there?

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