5 signs that your field tickets are leaking profits – and what to do about it
1. Your field tickets involve paper or spreadsheets
If you have any paper tickets in the field they are leaking profits – period.
There are too many ways to list them all here – but if an 8 gets mistaken for a 3 in a ticket – someone is getting under billed. Or it gets lost or forgotten or the dog eats it and poof … there goes more profit.
Spreadsheets are almost as bad – the only difference is you rely on good typing skills instead of neat hand writing – probably not the skills you were hiring for in the field.
Despite decades of practice I am still terrible at both so if I was your employee I’d be costing you money.
2. Your field tickets get reviewed/adjusted a lot
Again, the difference between 3 or an 8 is scary. So is getting the AFE or job number wrong. Or the agreed pricing, line items, allowances etc. etc…
The only way to make these problems less scary is to review all your tickets – all the time. Unfortunately every review increases your costs and the time required to get your work billed and paid.
Take how much you think this costs, double it and you are probably getting close to the truth.
“[FieldCap] has provided our clients with an improved mechanism to review and approve field tickets electronically.”
Joel Block, Manager – SWAT Consulting
3. Your field ticket data gets “re-entered” into multiple systems
Data re-entry takes the same profit-killing problems noted above and spreads them into other areas of your business like a disease.
The problems multiple points of entry create also become increasingly difficult to diagnose and treat.
And, if you think these extra costs are limited to the labor needed to do the entries, you are sadly mistaken. (see 1&2 again)
4. You just have a “gut feel” that things slip through the cracks
You run your business. You know it inside and out. What are the chances that your gut is wrong? Pretty slim.
Probably you caught some billing errors yourself once before they reached your customer and thought “is this happening a lot?”
Unfortunately you know the answer.
5. Your A/R is out of whack
This is the surest sign that your tickets are leaving profits on the table.
It means your work takes too long to get approved and invoiced, or your invoices are getting rejected, or both.
“We now track and bill our jobs more efficiently and we have reduced our A/R time by 50%. At the end of the day it means cash comes in faster and we keep more of it.”
Scott Bissell, CEO – Tara Energy Services
In addition to hurting cash flow it also erodes customer satisfaction – which is extra scary because you will probably never know exactly what that cost is.
“The feedback from our clients has been positive. They appreciate how simple the process has become to approve work that is completed.” Erin Damiani – Mountain West Services
So what can you do about these profit-killing ticket problems?
Go digital – asap. Get out of paper and spreadsheets and into a system.
Digital, cloud, electronic field ticketing – call it what you want but it is now a must-have for any service business serious about building sustainable profits and customer satisfaction.
Stop procrastinating and find a system. There are plenty of good ones out there and your competitors are using them right now.
Keep it simple: Pick a system with good reviews and get a demo today. Start a conversation.
“FieldCap has reduced our error rate, increased our efficiency, and the guys in the field love it!“
Paul Poscente, Executive Chairman – Backwoods Energy Services