Afraid to try new business management technologies?
You may be putting yourself at a competitive disadvantage. According to a recent report from McKinsey & Company job automation is only going to increase. Whether you like it or not. Unless you are the kind of guy to avoid electric drills and only use a manual screwdriver, it may be time for you to look into the powerful solutions available to you to help you run your business. Automating some of your time-intensive administrative functions is a logical first step.
According to AccountingWeb Contributor Morton Brogger, CEO of Huddle, the McKinsey report finds that up to 45 percent of activities individuals are paid to do now, representing nearly $2 trillion in annual wages, can be automated, just by adapting technology that already exists. Imagine that.
What does tech automation mean for your accountant?
Your accountant will spend less time actually crunching your numbers. Many already are running the information you give them through various software systems to give you the information you need to make strategic business decisions. But how are you giving them that data?
What does tech automation mean for you?
Smarter business operations. If you’re still running your business on white boards and Post-its and spreadsheets, you’re likely losing ground and losing money. Your competitors are going digital—both in their back office and in the field. What if you could enter a customer’s job specs right from the job to your estimator? What if your estimator could call up all the necessary data and compile a client-ready bid in 24 hours… or less and send it out for client review and signature? And then a few clicks later, bam!: out go your materials POs.
Use the tools you’ve got better
Surely you’ve got a computer, or a laptop, or a tablet, and hopefully a smartphone. So you’re already operating in at least the early 21st Century. Now is the time to make all those instruments work harder for you.
Automation is not going to replace your laborers (see the McKinsey chart). It might, however, streamline the functioning of your back office (even if that back office is you!).
Someone needs to lay the tile; install the drywall, shingle the roof. But how you sell the work, bid those jobs, buy materials and assign teams to the field… that’s going to change for you if it hasn’t already. If you’re running an accounting package like QuickBooks, you are halfway there. You’re already tracking bank balances online, maybe even doing direct deposit for your teams, and writing checks. You may, at the end of the year, even be sending a copy of your financials via email to your accountant, or even giving them remote access to your computer.
Now take the next logical step
Invest in the right technology—whether you are an accountant or a contractor. You’ve already got the basics—the hardware, and likely some of the software. Technology (the right technology) can deliver enhanced cost-efficiencies—accurate AIA bids, faster standard bids, better management of estimates, jobs, worker assignments, purchasing, client management, and productivity to ensure your projects stay on schedule and on budget. Imagine, running your business efficiently, cost-effectively, and profitably. Imagine how happy your accountant will be when your business/project management system syncs so easily with your accounting package. Win. Win. Win!
So how do you get there? Do your research. Knowify, for one, can help. We’re already helping contractors and their advisors/accountants integrate their business management needs with their accounting systems from an easy-to-use interface accessible from any device—in the field and in the office. If you have any questions or wish to share your feedback, you can find us at support@knowify.com.
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