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https://teamsoftware.com/en-gb/software/timegate/?utm_source=EMEA_Cleaning_Matters&utm_medium=digital_publication&utm_campaign=Nov2021)
Delivering profitability with data Team Software explains how you can engage the power of data to drive contract profitability.
Whilst gut feel will always have a place in business strategy, in the long run it’s a combination of hard data and analysis that underpins the decision-making needed to protect and grow your profit margin.
Arguably, there was a time when downloading data from umpteen different systems and consolidating findings into a single spreadsheet was cutting edge. Now, that kind of process is lengthy, laborious and, ultimately, taking time and resources away from strategic initiatives. Those manual processes also make it incredibly difficult to anticipate problems, recognise trends, and adjust as needed to stay proactive and profitable, rather than reactive.
The simple fact is that whilst most cleaning contractors are awash with data, turning it into meaningful management information (MI) is a totally different story. Reliable MI is vital to make proactive decisions that drive your business forward, support customer retention, and make your company attractive to new prospects.
Using data proactively
If proactive decision-making means steering a company along an agreed path by continually measuring performance and adjusting based on trends, it goes without saying that your MI needs to be accurate, up to date, and accessible. Ideally, you should be looking at data in real time, or as near to it as you can realistically achieve.
This is possible when the underlying data you are using sits in a single, integrated database, rather than in several unconnected locations. For example, to track customer profitability and head off underperformance, you must combine both historical and budgeted information across multiple revenue and cost budgets, which for many companies requires time-consuming analysis.
Even something as simple as knowing if your monthly payroll is above or below budget before you release it requires both a combination and consolidation of pay and timesheet data. That way, your ability to identify, query and correct overspends is proactive, rather than those issues only coming to light after they dip into your profits. Using
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a system of sound data gives you time to solve problems before they occur.
The right data for the right people
Whilst the members of your board or executive team will want to see the bigger picture, it also makes sense that if you want individual managers to take responsibility for their own budgets and performance, then you must structure the content of your MI to ensure everyone receives data at the right level of granularity and in a format they can readily understand, whether it’s labour costs, outstanding quality audits, right to work documentation awaiting approval, or ageing debt.
As well as eliminating the need for emails and meetings, data insights provide managers with regular access to information across different performance measures in a readable format, ensuring that up-to-date data is available for immediate review and action at all levels of your management structure.
Winning over customers and prospects
Pre-pandemic, the creation of KPI reports demonstrating compliance with an SLA was an important way of showing your customer that you were in full control of service delivery in areas ranging from staff attendance to standards and budgets. It still is, of course, but the pandemic reinforced that need, introducing other health and safety compliance measures into the mix. Customers now want reassurance that your staff have visited and cleaned specified locations at an agreed frequency.
Whichever system you use to collect this, or any other type of on-the-ground performance data, prompt consolidation into customer reports now forms an essential part of your customer retention strategy. It also gives you a much clearer picture of staff productivity, which in turn allows you to optimise resource allocation and involve your customer in discussions as to how you’re addressing their health and safety concerns, whilst remaining within budget.
www.teamsoftware.com/data-quality
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