Industry Blog

Improve Job Costing, Control Projects and Profits

steel erpSteel service centers, metal fabricators, coil slitters, pipe and tube processors and others in the steel and metals industry have to prepare complicated estimates for customer projects. There is a lot of information to consider for an estimate including material and labor costs, overhead, and outside processing needs. Not only do you need to prepare a reliable estimate, you need to make sure the project proceeds as planned. Otherwise the budget gets busted, customers are frustrated and you could lose money.

Businesses in the steel and metals industry need to know, with precision, the time and costs associated with manufacturing operations. Material costs, labor requirements and operational activities can vary greatly by customer and by product. In addition to internal variables, there could be outside processing needs which add time and costs to a project. Such a wide range of variables make job costing a difficult process from the very start. Disparate accounting, financial management and other software only adds to the complication. Job costing takes even longer when trying to find data buried in different software systems, then manually calculating estimates for each variable.

Replace Risky Manual Processes With a More Efficient, Automated Solution

Rein in complicated job costing by replacing inefficient business software with a more comprehensive, integrated solution, like RealSTEEL. Designed to support the unique operations of companies in the steel and metals industry, RealSTEEL offers robust accounting and financial management features and automates the estimating process. Specialized job costing functionality offers greater control and insight over the four tenants of costing—including material cost, direct and indirect labor costs, overhead and outside processing costs. You can manage each variable by the sales order line and by lot.

By maintaining all of this important financial information within RealSTEEL, you and your team can:

  1. Access information faster and prepare accurate job estimates that meet profit goals
  2. Efficiently manage budgets for business operations and by customer project
  3. Gain dashboards and other business intelligence features that put key metrics at your fingertips
  4. Monitor time and expenses by project, in real time, and respond faster should deviations take place

Replace risky, manual job costing processes with a more efficient, accurate solution. RealSTEEL is the tool businesses in the metals and steel industry need to prepare job estimates that fulfill customer expectations and profit goals. Contact The Wolcott Group for guidance with how to improve job costing and gain greater control over projects and profits.

By The Wolcott Group, providers of RealSTEEL, a ‘real world’ solution for the steel and metals industry.

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