Best Management Practices for a Trade Company
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Owning and operating a trade company can have its share of challenges where management is concerned. Keeping track of and maintaining an array of business management related functions is one of the most critical factors for the well-being of your company, and integrating operational software into your business can help your company run more smoothly and efficiently. This software can bring the information you need to your fingertips at any time, connecting all operational aspects of your company into one customizable interface.
Inventory management can easily become a weak point for a service business. Improper accounting for product received, defective units that need to be returned, lost or stolen inventory and product sold but not noted in inventory statistics are only a few of the problems inadequate inventory control can cause. The bottom line is that all of these issues directly affect sales, and lost revenue simply has to be avoided in order to succeed as a trade company.
Integrating an operational software solution such as ServiceTitan along with Quickbooks Inventory will allow you to connect your product sales with your inventory. ServiceTitan shows you what has been sold recently, what products have thrived, and what products have failed to perform. Together with Quickbooks, you can also see which products are running out of stock, and what is on order. When an item is sold, ServiceTitan will send changes in inventory to Quickbooks to reflect that transaction, and alerts can be set up in Quickbooks to notify you when inventory levels fall below desired quantities and need to be addressed.
Business management software such as ServiceTitan also provides an excellent platform for showcasing your product line to potential customers via an iPad or tablet. By organizing your product line and providing vital information about warranties and extended service contracts that are available, not only are you improving the opportunity for sales, but “add-ons” and “up-sales” become increasingly possible.
There are many different areas that operational software packages can serve to benefit a trade company, but none are more prevalent than inventory control. To discover more about ServiceTitan and the ways it can help your business thrive, contact us!
ServiceTitan is a comprehensive software solution built specifically to help home service companies streamline their operations, boost revenue, and substantially elevate the trajectory of their business. Our comprehensive, cloud-based platform is used by thousands of electrical, HVAC, plumbing, garage door, and chimney sweep shops across the country—and has increased their revenue by an average of 25% in just their first year with us.Learn More