Yearly Archives: 2020

Solutions360 Releases New Job Costing Survival Guide

Posted on September 21, 2020 in Blog ,Improve Profitability ,Increase Project Profitability ,Q360 ,Solutions360 by

Why Is Job Costing So Important in 2020? Over the last 20 years, Solutions360 has worked with hundreds of businesses to help apply technology that improves business process management and profitability. One of the most complicated issues that Solutions360 has encountered in the professional services space is the practice of proper job costing methods. Less than 10% of the companies that Solutions360 works with do an accurate job of job costing prior to our engagement. The primary reasons for this are: Estimates are based on […]

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5 Actions Productive People Take That Most People Don’t

Posted on August 4, 2020 in Around the Web ,Blog by

If you want to reach your goals, surround yourself with productive people. It will only be a matter of time before their good habits rub off on you. Two and a half years ago, I made a decision that would change the trajectory of my career: I challenged myself to get to know one new person a week who was doing something I thought was cool. This decision alone was worth its weight in silver. What turned it to gold, however, was asking a few […]

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Better Processes Equals Better Projects

Posted on May 19, 2020 in Blog ,Business Process Improvement by

When was the last time your integration business focused on process improvement? Process management is an exercise in efficiency – it is all about doing the correct things while minimizing waste. There are a lot of programs out there that address process standardization and improvement in more words than I’ll use — programs such as Lean, Six Sigma, Business Process Engineering, SIPOC (Supplier, Input, Process, Output, Customer), and so on. More study on any of these topics will certainly yield positive benefits, especially at an integration […]

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Don’t Be a Cash-Blind Owner Part 3: Cash Burn Rate

Posted on May 11, 2020 in Around the Web ,Blog by

This is the final installment in our blog series about cash flow management, and cash-blind owners. What are cash-blind owners, you wonder? Simply put, they are integration firm owners who are completely oblivious to the monthly cash flow activity of their business. To determine whether you fall into this category, you can ask yourself whether you know the answers to these three questions: Do you know your company’s days sales outstanding (DSO)? Do you watch your company’s sources & uses(S&U) of cash? Do you know your monthly […]

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Video Demo: Q360 Cash Flow Forecasting Dashboard

Posted on May 4, 2020 in Business Process Improvement ,Improve Financial Management ,Q360 ,Solutions360 by

We are excited to release the newly updated cash flow forecasting dashboard in Q360 Why is cash flow forecasting important? The object of cash flow forecasting is to compare how much cash you receive each month to how much cash you must disburse. Solutions360’s new worksheet tool will help you to forecast both sides of this equation. This month-by-month look forward can help integrators manage growth, as well as predict any impending cash flow crisis. 7 Tips for accurate cash flow forecasting in your integration […]

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Don’t Be a Cash-Blind Owner Part 2 – Sources & Uses of Cash

Posted on April 6, 2020 in Around the Web ,Blog by

What makes a financially successful integration business? One with high profits? One with a solid financial plan? Many owners believe that, if profits are solid, then the company is solid. As we revealed in Part 1 of our blog series, Don’t Be a Cash-Blind Owner, however, they’re pretty upset when they find out that isn’t reality. These are “cash-blind owners” – owners who don’t know anything about their cash flow. How do you know whether you’re a cash-blind owner? Try answering these three simple questions: Do […]

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Don’t Be a Cash-Blind Owner Part 1: Days Sales Outstanding

Posted on March 16, 2020 in Blog by

During my decades-long career as a CFO, I’ve had the great pleasure of knowing and interacting with many superbly talented entrepreneurs. Unfortunately, some of these remarkable individuals are also what I call “cash-blind owners.” This “disorder” describes otherwise-savvy business owners who are totally oblivious to the monthly cash activity of their business. Because many owners in the construction trades evolve from being tradesmen, this disorder occurs with a greater frequency within our industry. Individuals suffering from this disorder typically hound their CFOs for monthly income […]

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