During our business travels, we are fortunate to take in many great sights and some beautiful scenery, but nothing turned our heads like the photos below:
Guess the city, or city nearest to, where this was photographed and win a prize!
Submitted to us by a DataCraft client – and we are assuming a fan (at least he’s willing to take his hat off to us!) – we were struck by how well the cap was holding up since it was 8 years or more since we distributed our supply of these one-of-a-kind, all-purpose head warmers.
We were also struck with an idea – why not stage a contest and ask our faithful followers to offer up their best guesses as to where the cap was photographed. We’re looking for the name of city, or nearby city. The respondent whose answer names the city, or another city geographically nearest the actual hat location, wins a $25 gift card to a nice eatery in the greaterRockford,Illinois, area. If we receive more than one correct answer, the prize will be awarded to the correct entry received by us first.
Maybe you’ve heard the expression, “No profit, no firm.” Professional services firms turn a profit only when team members are billing their time to clients. The goal is to bill an amount equivalent to the value of the work done.
Most service professionals we work with offer several billing arrangements, whether they are lawyers, architects, financial advisers or engineers.
A fixed fee is just as it sounds: a fixed amount of money for a defined set of work. It’s attractive when the job is well defined and can be completed quickly.
With a time-and-materials agreement, you receive a set rate for hours worked plus reimbursement for specific expenses. Projects where the scope is flexible lend themselves to this approach.
For jobs that are loaded with unknowns, a two-phase agreement allows firms to receive payment for initial work that will help define the project and then follow up with a second-phase fixed-fee or time-and-materials arrangement.
Some clients seeking professional services prefer to pay a recurring fee (weekly, monthly or quarterly).
.
As any owner of an architectural or engineering firm will tell you, reporting of time and time management play a large part in hitting your profitability targets. Agency management software to track your work can help you maximize billable time, manage a large portfolio of projects and gain a competitive advantage.
At DataCraft, our goal is to make sure your business is fully integrated with the right business and accounting tools, with accurate and up-to-date status information, meaningful alerts and embedded project analysis and reporting.
Use the button below to download a guide to different pricing models and advice on how to manage pricing strategies.
A computerized point-of-sale (POS) system is an essential part of doing business for most retailers, restaurant owners and even service providers, like hairdressers. POS systems make it much easier to run a more profitable business. POS vendors constantly introduce features beyond balancing the cash drawer and processing credit cards. Advanced systems can include developing target marketing strategies, tracking supplier purchases and analyzing sales of each inventory item.
Here are 10 reasons to consider upgrading to state-of-the-art POS systems:
Faster checkout. From authorizing credit card transactions to printing receipts, checkout is faster. POS systems also can print barcode labels and interface with scanners to speed up checkout times.
Produce itemized receipts. POS software delivers detailed information, including item description, list price and sale price. Built-in checks ensure that the information is entered accurately.
Simplify the accounting process. Rather than requiring you or your accountant to pore over hundreds of individual receipts, a POS system allows financial personnel to review built-in reports or create their own.
Streamline inventory management. POS software tracks inventory quickly and accurately. A POS system can track your biggest sellers for reordering when stock gets low.
Increase customer loyalty. POS software can use a name, telephone number or loyalty card to uniquely identify a customer and offer discounts, record reward points or monitor customer buying patterns. You’ll know who your best customers are and why they’re buying.
Improve reporting. POS-generated reports contain a deeper set of information within your business. You can create sophisticated and useful graphs and charts.
Purchase order tracking. Some POS packages allow you to track purchase orders for inventory purposes. You can see where, when and what you paid for each inventory item.
Integrate POS into your business operations. Most POS software interfaces with popular accounting packages. Files and reports can be imported directly into your accounting software, reducing data re-entry and facilitating easier reporting and reconciliation of transactions. This also eliminates the need for paper, minimizes errors and improves bookkeeping and tax record-keeping processes.
eCommerce options. Integration with eCommerce platforms and websites results in more organized and accurate connections between your online and brick-and-mortar stores. Mobility to input orders, swipe credit cards and print receipts remotely further enhances customer service,
Track employee time cards. Some POS software packages allow you to record employee sign-in and sign-out times. The ability to scan employee cards enables more accurate hour and wage tracking.
Contact DataCraft to learn how we can help your company integrate an advanced POS solution or other business and accounting technology to automate your operations. Get started by downloading these “2012 Best POS System Comparisons and Reviews.”
A location scout, in movie lingo, looks for suitable settings for filming. Instead of scouting movie locations, we scanned the Rockford area to highlight some of the excellent opportunities available for companies seeking to expand their operations or establish a presence in a new market.
The Rockford Area Economic Development Council (RAEDC) website maintains searchable inventories of commercial and industrial real estate in Winnebago and Boone counties listed by local real estate firms. Similar data can be found on area commercial/industrial brokerages’ websites.
The RAEDC’s inventory of available Sites lists 180 properties in the commercial, industrial, retail and office categories. Of these, five sites exceed 100 acres in size. The average lease price for commercial and office locations — the two biggest categories — is $6.8 per square foot.
In addition, a seperate inventory of Buildings (including structures present on various sites noted above) lists just over 400 buildings, mainly in the commercial category. The commercial space ranges in size from 553 square feet to 113,921 square feet and leases for an average of $11.65 per square foot. Industrial buildings range from 1,220 square feet to 364,784 square feet with an average lease price of $4.7 per square foot.
The Rockford area not only boasts an abundance of affordable land and buildings for commercial and industrial uses, it offers proximity to customers, accessibility to raw materials, a modern transportation infrastructure, skilled labor supply and reliable utility services.
Just as Rockford has more to entice new companies into the area and encourage existing companies to expand, DataCraft has the ideal business and accounting technology your company needs to thrive. Contact us for more info. You can download the RAEDC’s list of buildings for sale and lease.
Companies rise and fall on their ability to act quickly on business intelligence. Competition in most industries is fierce and marketplace opportunities extremely time sensitive. Businesses that respond too slowly lose out to their quicker rivals.
Business intelligence is all about making better decisions faster. Better decisions lead to the realization of corporate objectives, such as minimizing waste, increasing the number of jobs per shift or reducing the number of hours per job.
Information is always changing rapidly, often in a big way. Decisions based on up-to-the-minute data improve customer relationships, increase revenue and maximize operational efficiencies. Thanks to the speed of today’s processing systems, real-time data warehousing and business intelligence systems put information at your fingertips. Take a company that sells merchandise online. Information on inventory levels available to call center representatives matches information on the company’s website.
Key Performance Indicators enable organizations that use business intelligence systems to analyze whether actions are resulting in progress toward their goals. Key Performance Indicators reflect critical success factors. The percentage of income derived from return customers or percentage of customer calls answered in the first minute are common Key Performance Indicators. When they are accessed, reviewed, analyzed and acted upon quickly, businesses achieve a higher rate of success.
A real-time approach isn’t required for every part of a company’s business. There are dozens of business intelligence products featuring various types of analytic capability (see the accompanying downloadable list of popular applications). DataCraft can help you gain a competitive advantage by integrating the business intelligence tools best suited to your objectives.
Manufacturers and assembly companies waste millions of dollars each year on untracked industrial tools. In some cases, distribution of cutting tools, fasteners, welding supplies and personal protection equipment is a free-for-all with little accountability and control. Any company that wants to cut costs is a good candidate for industrial vending.
Automated point-of-work (POW) vending machines have turned out to be profitable investments for small businesses. Automated replenishment of industrial tools and accessories decreases downtime, lowers labor costs, increases production and improves inventory management. Tool vending machines and dispensing cabinets manage the issue and return of both fast- and slow-moving supplies. These devices place critical items closer to areas where they are used. By providing 24-hour secure access, they ensure just-in-time delivery of components while eliminating the time required to move materials and supplies to and from the storeroom and workplace.
The main benefit of automated POW vending systems is inventory control. Built-in wireless communication systems monitor activities and track inventories precisely. Specialized machines feature telemetry or card systems. Vending systems can be customized to allow for real-time monitoring of stock levels. Managers can track which employees take what manufacturing consumables and how often they go back for more. Monitoring this activity cuts costs because employers can identify and correct wasteful employees.
Several firms design, build and deploy automated and semiautomated lineside tool vending machines, hosted software and services. For instance, AutoCrib Inc. industrial vending devices dispense various tools and safety equipment, even bulk items. AutoCrib’s software provides real-time data usage so that reordering tools and supplies is easy. Inventory management and control software for Remstar’s storage and retrieval systems can be used alone or interfaced with proprietary inventory control software.
DataCraft can help you seamlessly integrate these automated systems into your existing accounting or inventory management applications for optimum control. Download a free article that details the many advantages of tool/parts vending.
Let’s start with a couple interesting facts about cloud computing. It boasts an astonishing growth rate. One estimate put the worldwide cloud computing market at $8 billion. The worldwide total is expected to reach $14 billion in 2013. Yet fewer small businesses claim to know about the cloud than you might imagine. A recent eWeek.com survey found that 71 percent of small businesses had never heard of it.
In fact, most companies have had a foot in the cloud for more than a decade. Software as a service (SaaS), software on demand and Web-based software all refer to applications delivered via the Internet rather than residing on office computers. Cloud computing is widely used for email, webinars, marketing and customer relationship management. Software publishers have developed Web-based versions of popular business and accounting packages.
Cloud-based business tools require no software purchases or installation. Many have a low monthly fee instead of up-front fees or contracts. Access to tools, data and applications is available from different locations and servers at any time. Computing capabilities are scalable as your business grows.
Is confidential data safe? With Web-based software, data is off-site and automatically backed up daily. However, some organizations choose to move only productivity applications to the cloud, while keeping financial and human resource data on in-house servers.
Cloud computing applications may be a perfect option. DataCraft can help you evaluate your needs so you can decide on the right apps or set of apps. Download this free article that examines how to move business data into the cloud safely.
Big news just seems to follow the Interstate 39 distribution corridor. In 2010, it was 3M’s 650,000-square-foot warehouse expansion in DeKalb. This April, Nippon Sharyo began construction of a 465,000-square-foot railcar manufacturing plant in Rochelle.
The area near I-39 spans 10,000 square miles across central Illinois into Wisconsin. Interstates 43, 55, 74, 80, 88, 90 and 94 — more than in any other 100-mile swath of Interstate — crisscross the nation’s fastest-growing distribution area, providing excellent transportation routes for hauling raw materials and finished goods. Primary rail nodes radiate outward from the Illinois communities of Ottawa, Rochelle and Peru. Freight rumbles along on rails and highways or gets processed at the UPS sorting hub at Chicago Rockford International Airport.
Industrial, office and mixed-use business parks populate the I-39 corridor. Approximately 8 million square feet of new commercial development and leasing activity have occurred in recent years. Distribution centers for Lowe’s, 3M, Wal-Mart, Staples and Target sprang up because of the low-cost available land, abundant labor and business-friendly mindset.
And the area has room to grow, according to the I-39 Logistics Corridor Association, a group of municipalities and commercial real estate firms. In 2009 and 2010, brokers completed 57 deals on 1.7 million square feet of leased space and 1.6 million square feet of new construction worth over $1.4 billion. Click to download the I-39 Logistics Corridor “Targeted Industry Analysis.”
With opportunities like these come challenges for local enterprises that are involved in or serve the distribution segment. Staffing, business systems and software must be in place to keep pace with customer expectations. DataCraft stands ready to assist with system reviews, software evaluation and expert advice to position your company to capitalize on the potential.
A recent email phishing scam has been reported. If you receive the following message, DO NOT FOLLOW ITS INSTRUCTIONS. See more information on Intuit's security website
You might have a hole in your time and billing bucket and not know it. When a service is delivered but not billed, that’s revenue leakage. Luckily, desktop and online software applications designed for companies that bill clients for services can plug that leaky money bucket.
Small to medium-sized professional service organizations — architectural, engineering and law firms and others — face a big challenge in accurately tracking billable time spent on customers. It’s important to find a centralized, easy-to-use time and billing solution to capture all time information and create invoices based on work you’ve provided.
Applications range from simple, economical accounting solutions to robust packages with workflow management, document management, customer relationship management and other elements. Many applications integrate with QuickBooks or other published accounting software products that accommodate different bill formats, fee adjustments, reporting requirements and firm-specific personal preferences.
Good time-tracking and billing software pays for itself. The size of your firm and type of work you perform will determine which system best meets your needs. Viewing online tutorials and sample data sets can help you evaluate each vendor’s product. Key features to look for include:
- Common database to reduce the number of data-entry errors and speed up information retrieval
- Ability to present time and expenses in a professional format clients can easily understand
- Remote recording of billable hours, regardless of where these activities physically occur, via the Internet, PDA or desktop synchronization
- Integration of customer information for marketing and sales purposes
- Managing long-term jobs with project management tools
- Utilizing financial management accounting modules to more accurately and efficiently identify your financial position
Stop revenue leakage from draining your profits and productivity. Download this helpful software research checklist — then talk to us. We can help.
