It’s not uncommon for inaccurate job costing to result in financial pains. In fact, most companies’ finances have been impacted by inaccurate job costing. According to attendees of our webinar, Job Costing: How It Impacts Your Bottom Line, the majority - 54 percent - said it sometimes did and 33 percent said frequently. Only a small percentage - 13 percent - said rarely and not one said never.
That’s because job costing can vary and it’s tough to stay on top of going rates for the work you do, if you don’t have accurate data. This, in turn, leads to under- or overbidding jobs, both of which cost you money either by going over budget or by losing bids.
If you own a construction or field service company, you have to know what job costing is and how to get it right.