How to Track Job Costs Accurately To Protect Profit Margins

Steel service centers and metal fabricators have many variables to consider when estimating a project for a customer. Using disparate systems to calculate job costs could make it difficult to estimate direct and indirect costs. Before replacing inefficient business software with new technology, ensure that the new system can manage all of the data and variables needed to track job costs accurately.Protect Profit Margins with RealSTEEL

Replace Disparate Systems with an Integrated Solution

Preparing accurate quotes requires attention to detail and reliable data, which is difficult when relying on disparate systems. Gathering costs for inventory, labor, and indirect costs from multiple systems can be time-consuming and often presents an opportunity for mistakes. Once you prepare a quote for a customer, you can’t exactly ask for more money because your estimate was wrong. You want to replace disparate systems with an integrated solution, but the big question is how to choose the right one. Download this eBook, “Top 12 Questions Steel Service Centers and Metal Fabricators Must Ask Before Buying Business Software,” to learn how to ask the right questions and narrow down the choices.

Streamline the Process

Today’s business management solutions are integrated and comprehensive. You can manage all of your operations from a single, centralized solution with greater efficiency, than when using disparate software or manual processes. Since quoting and tracking job costs for steel service centers and metal fabricators is challenging to begin with, you need a solution that has the features to streamline the process. The business solution you choose should be easy to learn and use and offer time-saving features that can expedite quoting while ensuring error-free, accurate estimates. Quoting features should include subcontractor services, fuel or scrap surcharges, freight costs, or other variables not often found in basic software packages.

Fine-Tune Quoting

Once a quote is prepared and approved by a customer, you should also be able to monitor operations to follow the profitability for each job, including profitability by project, customer, or profit center. You can then use this information to fine-tune the quoting process and further bolster profit margins without sacrificing quality or customer expectations.

Strengthen job costing by deploying a strong solution, like RealSTEEL™Download the eBook and contact The Wolcott Group for more information about replacing disparate systems with an integrated solution that can streamline the quoting process and protect profit margins.

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