Posted on 07/17/2020 at 01:30 PM by Electric Ease
Find the best electrical estimating software to meet your company's goals.
Not every electrical contractor has the same goals for the future—and that’s okay.
What’s most important is that you have a plan in place to help reach those goals … whether you want to be more efficient, grow your business, or position your company for a potential sale in the future.
No matter which path you’re following, the right electrical estimating software can help you get there.
Select from the list below to access information specific to the goals of your own company ... or read on for the full picture.
Almost every business struggles with inefficiency. If you can find even small ways to reduce wasted time, effort, and money, you’ll stand out among the competition as your company gets things done better, faster, and more cost effectively while also creating opportunities for additional work, revenue, and growth.
Sometimes creating additional profit requires large-scale changes in the way you do business: swapping out the tools you use, investing in products and materials that promise time savings, increasing labor rates to bring in more revenue, altering how you view risk management, updating project management processes, etc.
In other situations, you can implement smaller changes and generate nearly instant income when those processes are followed properly.
We ran the numbers for you: Investing less than $3 a day in electrical estimating software like Electric Ease saves you more than double that amount on a daily basis. That’s an instant boost in efficiency and profits—without having to drastically change the way you do business or what you charge for services.
What’s the best electrical estimating software for companies that want to be more efficient?
For software that can help your company be more efficient, look for a solution like Electric Ease. It can help you:
- Provide workforce solutions
- Keep workers on jobsites and out of the supply house
- Reduce paperwork and eliminate errors caused by double data entry
- Improve internal communication
- Manage and decrease overhead costs
- Prevent overbuying and underbuying
- Reduce back-and-forth file sending
- Integrate everything you need to run your business into one system
Expanding a company so it’s ready to handle larger projects and higher volume requires capital dollars and more workers.
If you start down this path by approaching your bank (maybe you need a loan to purchase equipment to enter the commercial market, for example), you’ll have to prove your numbers, gross income projections, and borrowing capacity.
It’s not enough to explain what you’ve done in the past to create a profit; your lender wants to know how you did it and whether you can recreate that success tomorrow (and every day after that). If you can demonstrate your processes and how they lead to improved margins, then you’ll be able to showcase how you’re earning money now – and how you plan to boost those numbers down the road.
As you bring additional people on board, processes and project management will become even more important. Electrical estimating software can help make sure everyone follows consistent steps to complete tasks using the same platforms; it also keeps workers on the same page to eliminate communication problems and keep teams on the path to successful project completion.
Electrical estimating software can also be an attractive way to help recruit new employees, from office staff to journeymen and master electricians. If you can demonstrate that you have resources available to help your team members succeed, reduce human error, and boost productivity so workers have more time to spend with their families, then you’ll stand out as they search for jobs and consider their employment options.
What’s the best electrical estimating software for companies that want to grow?
For software that can help your company grow, look for a solution like Electric Ease. It can help you:
Get new employees up and running quickly, with little training required
Create fast and accurate single-page estimates and job-costing reports
Simplify employee scheduling and time monitoring as your workforce grows
Prove profitability and adherence to processes that support growth
Put yourself in the buyer’s shoes: If you wanted to acquire or purchase an electrical contracting business, would you rather invest in a company with clearly defined and documented processes – or a company that would require you to start at ground level and spend time recreating processes and learning the ropes?
The true value of a business ultimately comes down to one question: How long can it run on its own when the owner isn’t present? Especially in smaller companies, it’s likely that one key person runs much of the day-to-day, non-installation work. If most of your company’s valuable information is stored in his or her head, then it isn’t accessible to someone who may come in later to keep things running.
For example, ask yourself: How does my company estimate projects? If you’re making educated guesses based on the information you’ve learned over the years, what benefit does that offer to the person or company that wants to purchase your business? How will your company continue when the person with the necessary background and knowledge steps away?
Electrical estimating software can help prove to a potential buyer that, even after you leave, everyone – including new employees – can continue with the same processes to maintain and increase profits. Everything is documented and streamlined, making it easy for someone new to quickly get up to speed.
What’s the best electrical estimating software for companies that want to eventually sell?
For software that can show potential buyers how attractive your company is, look for a solution like Electric Ease. It can help you:
Stop estimating with pen and paper and use built-in benchmarks based on facts and up-to-the-minute pricing
Explain and support your profitability
Identify profitable vs. unprofitable jobs
Quickly, easily, and accurately track specific job costs, revenue, and profits so you know exactly how you’re doing on each job in real-time
Want to learn why the best electrical estimating software for your situation is Electric Ease? Spend 15 minutes with us! We’ll walk you through a virtual demo so you can see how the software will help you improve efficiency, grow your company, or attract potential buyers when you’re ready to sell. Book yours now!