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Service Business Management Software Improves Profitability

Service Business Management Software Improves Profitability

February 17, 2022
More Efficiency, Less Paperwork. Easily manage jobs, customers, scheduling, employees, and business costs and profit.

Too often, businesses make decisions based on a hunch rather than verifiable data. We invest money in things that end up having no financial impact on our business, while shying away from things that may save us loads of money in the long-run.

Sure, seeing through all the smoke and mirrors of advertising can be difficult – but that’s why we let data prove the validity of our investments. We’ve set out to prove the worth of FieldPulse’s field service business management software to you. So how does service business management software improve profitability?

Let’s do some math using FieldPulse. Below is the calculation to determine whether or not you should invest in any efficiency software: (Hours Saved per Month * Avg. Hourly Wage) / Cost for Product = ROI (Return on Investment)

Cost Benefits

Monthly Hours Saved

Through our own studies of third party service businesses, FieldPulse service business management software saved them close to 20 hours per week in labor time for a contractor business with 10 employees total. About 2 hours per week per person.

They were able to cut out paper invoicing, generate estimates, and even spend less time on the phone by adding comments right onto each project and dispatching members right from the app.

However, we still need to put this in terms of monthly hours saved, not weekly. 20 hours per week totals up to 80 hours saved each month.

Average Hourly Wage

We used the national average of a general contractor hourly wage based on data from www.payscale.com. We found the average general contractor wage to be a little over $30 per hour.

Cost for Product

FieldPulse software costs $89 per month with the first user included, with additional users starting at $30 per month. With all 10 people using the software, the cost would be $359 per month. During your software evaluation process, feel free to compare this value to those of higher-priced platforms on the service business management software market.

The Results

Plugging the numbers into our simple formula, we came up with the following:(80 Hours * $30 per Hour) = $2,400 saved per month with FieldPulse.

‍So how do we interpret these results? Simple. ‍

‍We’re saving $2,400 a month, while the software only costs $359! That’s $2,041 in value-added to your business each month.

If we want to get an idea of the annual savings, ($2,400 *12 months) = $28,800 a year in savings. If we take the annual cost of the FieldPulse platform for a company of 10 ($3,661.80 per year) and deduct that from the annual savings, you’ll still come out on top saving $25,138.20 each year. ‍

Remember, this number is simply based on increased efficiency, not including the bonus of improved work quality and customer service from using FieldPulse.  When it comes to running a business and deciding what to purchase, do this simple calculation and you can estimate the return you’ll receive on your investment quickly and easily. While results may ultimately vary company to company, we’re confident that FieldPulse is a great value for any trade service business.

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Sales Benefits

Many service business management softwares come equipped with several tools that help to optimize your sales process. One example of these tools is a Pricebook feature. FieldPulse’s Pricebook is a flat-rate sales tool that businesses can use to supercharge their sales process by allowing you to create custom-tiered pricing proposals, side by side offering comparisons, and showcasing your professionalism to the customer.

Once your customer has made a selection, you can use the Pricebook to quickly convert the product or service offering into an estimate, invoice, or purchase order, and attach it to that customer’s profile. service business management Softwares that offer Pricebooks with a supplier integration are also able to show live pricing information, meaning that all your products and services will be automatically equipped with the most up-to-date pricing information. 

In addition to Pricebooks, many service business management softwares will come with sales tools like commission tracking, detailed invoice and estimate creation, dynamic proposal generation, on-the-spot payment capabilities, and more. To learn more about the tools available through FieldPulse, visit our features page here

Operational Benefits

service business management softwares are an excellent tool for keeping your backend operations in order. Some service business management softwares integrate with certain suppliers, enabling the software to include live product pricing information. There are two primary benefits to having a service business management software, like FieldPulse, that’s integrated with a supplier. 

First, live pricing information enables you as the business owner to more accurately quote the overall price of your services. Say for example, you’re a plumber using the FieldPulse Pricebook to show your customer your plumbing service options, and let’s say they select a premium bidet installation. When you convert that selection to a quote, the overall price will have the most up-to-date pricing information factored in automatically, so you’ll know exactly how much you’re making on that job without having to go searching through supplier catalogs. 

Second, placing purchase orders from suppliers is made far easier. With an Auto-Inventory Replacement feature, you can enable triggers that are activated once certain inventory levels fall below a predetermined threshold, which causes your platform to generate a purchase order draft and notify you that it’s time for a refill. From there, all you need to do is submit the purchase order, and the supplier will be notified to start filling your order. 

In addition to supplier integrations and inventory management, service business management softwares offer multiple tools designed to help streamline your backend operations, such as file/photo management vaults, item repositories, fleet tracking, and more. To see FieldPulse’s tools for operations management, visit our features page here

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Peace of Mind

The most important benefit of service business management software gives you, the business owner, is peace of mind that your business is being run at peak efficiency, even when you’re not there. Many service business management softwares like FieldPulse offer integrations with accounting software such as Xero and Quickbooks. By integrating with this software, all your revenue and expense data will be automatically tracked and recorded, making tax season a far less daunting reality. 

Certain platforms will also offer features like GPS tracking, allowing you to check in on where your techs are during the workday, as well as see a real-time location every time your tech clocks in or out on a job. 

In summary, field service business management software helps make every step of your daily operation function smoothly and efficiently. From customer management, scheduling, invoicing, and more – FieldPulse software will help improve your bottom line. Sign up now for a free 7-day trial of FieldPulse.

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