How Kraft Helped Concrete Cutting & Breaking Co. Improve their Invoicing and Avoid Thousands of Business Costs
Concrete Cutting & Breaking Co. (CC&B) has been committed to providing professional construction services since 1974. Offering services to civil, commercial, industrial and residential businesses, the company’s primary goal has been to make each client’s designs a reality in a timely, cost-effective manner. Concrete Cutting & Breaking Co has completed jobs across the country, continuing to update and train technicians to provide the best quality service to their customers.
While the company and their construction services are very organized today, this was not always the case. Due to their lack of sufficient technology and internal support, CC&B was forced to handle their invoicing alone, resulting in growing costs and payment delays that could have severely affected their profitability if left unresolved.
Critical Challenges
Prior to signing on with Kraft, Concrete Cutting & Breaking Co. had to complete and process their own financial invoices. While it’s reasonable to think handling these procedures manually could save a company money, as time went on, this process had the opposite effect.
Invoices sent to their headquarters in Grand Rapids, MI would be severely delayed for submission since they were manually mailed through FedEx. Once received (if at all), the accounting staff had to manually enter all invoice information into their MS Dynamics – SL program. Though this ERP software was helpful to their accounting department, there was always a chance of error, since the invoices were manually processed.
Through this suboptimal process, the company’s satellite offices sometimes reported losing paper invoices, resulting in late fees, non-payments, and ultimately loss of phone or internet services when vendors weren’t paid. Since the accounting office couldn’t monitor cash flow, some invoices would be double paid if the lost invoice was discovered after the replacement form was submitted, creating unnecessary costs for the company.
Coupled with having to account for their own Use Tax, corporate allocations, and Job Costing reports, CC&B’s accounting staff was suffering. With the number of invoices being keyed by hand, their staff couldn’t handle it alone; to meet deadlines with their manual process, the company would need more staff, costing them around $45,000. Unfortunately, this would also require the company to get an additional MS Dynamics – SL license, costing them another $1,900 per year.
Facing such costs and workload, Concrete Cutting & Breaking decided to search for an IT provider to streamline their invoicing and save expenses.
Kraft Solutions Optimize Invoicing
After reviewing CC&B’s internal issues, Kraft’s experts strategized how to best improve their business structure with more advanced hardware and software.
To start, Kraft outfitted each of Concrete Cutting & Breaking Co.’s satellite offices with Epson Scanners. Accounting staff at each office can now scan invoices and send them directly to the Grand Rapids HQ via a wireless network for processing, saving significant time and money on mail delivery.
Kraft also set the company up with PsiGen business automation software to automate workflow and data entry. Through this program, accounting technicians submit invoices, automatically upload the information, and migrate text and images via the cloud. It further reduces processing time by accurately uploading information within the network, helping CC&B meet financial compliance.
To further streamline invoicing, these forms would be batched and sent to MS Dynamics via Kraft’s Accounts Payable software, which automatically removes duplicate invoices, checks for data accuracy, and seamlessly routes invoices for submission.
Kraft Ensures Quality Savings
Concrete Cutting & Breaking Co. reports Kraft’s expert IT support and tools have enabled the company to cut costs and ensure better workflow for their staff and for clients. Today, CC&B can effortlessly track and pay invoices, easily produce Use Tax and Job Costing reports, and simplify their auditing process thanks to Kraft. With their invoices submitted right on time, Concrete Cutting & Breaking Co. has saved over $70,000 in Quick Pay discounts, and over $90,000 in employee costs since 2020.
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