Tuesday, September 26, 2017

The Cost of Inaction

In today's competitive economy, is your business feeling price pressure, high customer service demands, and experiencing lower margins?  As a business owner, you're faced with many challenges, the most prominent one being efficiency.  How do you manage your employees, fleets, and services to promote efficiency?

You may have a method in place that is working, but how well is it working and what benefits are you missing out on from sticking with an older method?

If you currently run your business processes on paper, how long does it take to complete tasks such as scheduling, recording work orders, and filing invoices? How difficult is it to look up customer history?  And most importantly, how much is it costing you to keep the method you have rather than switch to something that’s digitized, faster, and easier to use?

There is a cost for not changing and adopting a new system.  Do you know your cost of inaction?

Think about the current system that you use, looking at the amount of both time and money it takes to maintain it.  Then examine the more efficient system you could have and consider the time and money it will save you.  If the value of the time and money you’d save is higher than the cost of the new system, it is better for your business to invest in the new system.  The cost of inaction is one of the most important factors to consider when determining whether or not to make a purchase.  

When it comes to fleet management, having a more efficient way of scheduling, dispatching, completing work forms, and sending out invoices will save employees hours of completing paperwork, saving hundreds of dollars and allowing for more jobs to be scheduled and completed out in the field, increasing your revenue.  Not only do you save on workforce costs, but you save on vehicle costs too.  Having a system that sets up maintenance reminders and tracks your mileage, fuel usage, hard breaking, etc. could save you money every month on fuel and maintenance costs.  The cost of inaction is much greater than the upfront cost of digitizing your business processes, and hesitating to do so could lead to great financial loss.

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