ClearTalk

Dive into the nuanced world of sales on the latest ClearTalk podcast episode, where we demystify the differences between opportunity management and sales forecasting. With expert Chris Peterson, Founder and CEO of Vector Firm, we challenge the idea that sales is either an art or a science and explore how the best sales teams blend structured processes with strategic agility. Uncover the essentials of an accurate forecast report, the dynamics of sales probability, and the execution of best practices for consistent sales success. For businesses seeking to refine their sales approach and navigate the complexities of implementation. Tune in to equip your team with the insights needed to not just understand, but master the sales process.

On this episode of ClearTalk...

Join host Jen Jackson as she dives into the essentials of Project WIP with expert Brad Dempsey. In this episode, they'll discuss:

Defining WIP: Uncover what WIP (Work in Progress) reports are and why they are seen as the lifeblood of Project-Based Companies.

Importance for Systems Integration Companies: Understand why the WIP schedule is vital for assessing company performance and future projections.

Spotting Red Flags: Bradford offers insights on indicators of potential issues when evaluating WIP and how to navigate through them.

Forecasting Cash Flow & Profitability: Learn how the project and portfolio WIP can guide in forecasting a company's cash flow and potential profitability.

Aligning WIP with Financial Goals: Tips on ensuring that WIP corresponds with a company's broader financial strategy and objectives.

External Stakeholder Communication: Grasp how WIP aids in transparently communicating a company's health and progress to banks, investors, and bonding companies.

Don't miss out on this comprehensive breakdown. Tune into the ClearTalk podcast for the full conversation!

Join us for an insightful episode of ClearTalk as we dive into the world of supply chain management - a hot topic in the integration industry for years.

We are honored to have Michael Stammire, VP of Procurement for Avidex, join us to share his best practices in responding to the ever-changing supply chain challenges.

Stammire opens up about how the pandemic impacted Avidex, from project delays to freight and logistics issues. He discusses the shift in buying habits and the adoption of more mature procurement practices to overcome these challenges.

Don't miss it!

Join us for an insightful episode of ClearTalk as we dive into the world of supply chain management - a hot topic in the integration industry for years.

We are honored to have Michael Stammire, VP of Procurement for Avidex, join us to share his best practices in responding to the ever-changing supply chain challenges.

Stammire opens up about how the pandemic impacted Avidex, from project delays to freight and logistics issues. He discusses the shift in buying habits and the adoption of more mature procurement practices to overcome these challenges.

In this episode, you'll learn about:

- The importance of 'just in case' ordering versus 'just in time' to protect projects.
- Ordering strategies against the pipeline for high run rate items with long lead times and core components.
- The benefits of using a standardized quoting tool for better visibility.
- The value of seamless communication between Purchasing and Sales.

Stay tuned for Part 2, where we'll delve even deeper into the secrets of supply chain mastery with Michael Stammire. 

Don't miss it!

Prepare for a captivating episode of ClearTalk as Brad Malone, Solutions360's Vice President of Professional Services, joins forces with our CEO, Bradford Dempsey, to explore the intriguing realm of information transparency.

Sharing information can ignite fiery debates among business owners, especially when it involves financial data disclosed to employees. However, Solutions360 has a game-changing solution: Q360. This powerful data repository empowers your team to make informed decisions, fueling their success.

But here's the catch: education is the key. Dempsey stresses the importance of providing context and understanding alongside the shared information. Without it, misinformation spreads like wildfire, breeding problems.

Discover the essential metrics for labor-based integration companies and unravel the true meaning behind Dempsey's "visibility creates efficiency" philosophy. Don't miss out! 

Get ready to dive deep into the world of profitability with the latest episode of ClearTalk! Our CEO, Brad Dempsey, sits down with Brad Malone, VP of Professional Services, to uncover the truth behind measuring profitability.

While profitability is a metric that grabs everyone's attention, are you measuring it correctly? As integrators are in the business of selling labor, it's essential to understand the importance of burden rates when it comes to measuring profitability. As Malone points out, many people escalate their gross profit without burdening their labor correctly, causing excess overhead and impacting their net profit.

But that's just the tip of the iceberg! On this episode, you'll also discover what Dempsey means by "Profit often hides our sins" and how heroism, martyrdom, and project drama can impact project profitability.

If you're ready to take your profitability game to the next level, listen to the full episode now! You'll learn that consistently profitable integrators are well-run organizations that are often a pleasure to work for. Don't miss out on all the valuable insights and tips that Dempsey and Malone have to offer.

On this episode of ClearTalk, Brad Malone, VP of Professional Services at Solutions360, joins CEO, Brad Dempsey, to discuss the BIG "WHY".

Q360 is a business management tool, which is much more than just another ERP system.

“We have really shifted the paradigm, from 'Go-Live' being the milestone and just focusing on the software, to focusing on fulfilling the integrator’s objectives... the platform is just one aspect of the project,” says Malone.

With every implementation, we start with what we call the "BIG WHY”. 

• Why did you buy the tool? 
• What are your business goals?
• What results are you after?

Solutions360 uses that BIG "WHY” throughout the implementation. They want to make sure the entire team knows exactly why they're doing what they're doing.

“We've got to change business processes. We've got to oftentimes teach management how to read dashboards that they've never seen before using data they've never had before. So, it's a big paradigm shift, and we're really focusing on that.” Malone reports.

Also on the podcast, the pair discuss:

• What is Excel hell?
• Why should an integration company embark on this kind of major change?

Listen to the podcast for all this and much more!

On this episode of ClearTalk, Brad Malone, VP of Professional Services at Solutions360, joins CEO, Brad Dempsey, to discuss closed-loop estimating.

In simple terms, closed-loop estimating is the feedback loop from lessons learned from each project so they can be incorporated in future estimates, setting them up to be more accurate and profitable.

There are always similarities along with uniqueness across all projects, and there are lessons to be learned from both aspects. “When we have similarities, we can fine tune our estimates, and when we have uniqueness or risk, we can figure out how much contingency we’ll need,” Malone explains. “It's really a learning process.”

All of this relates to LEAN principles and six sigma, which Navigate encourages integrators to adopt.

“The way I look at Lean is about getting rid of waste, and drama, and really streamlining processes,” says Malone. I always use the metaphor of Michelangelo and David. How did Michelangelo carve David? Well, he just took away everything that wasn't David.”

Conversely, 6 Sigma is about variation - the more similar your projects are, the more you can look at reducing the variation. 

By embracing these concepts, Navigate finds integrators can save 20% to 30% of their labor on a project.

Also on the podcast:

• What are the prerequisites for implementing closed-loop estimating.
• Why you should not wait until the end of a project to go back and look at the original estimate.
• How to develop the process to estimate the way you actually run a project.

On this episode of ClearTalk, our President, Joel Harris, is once again joined by Eric Morris, CFO at Wayne Automatic for PART 2 of this discussion on why budgeting is important for the success of your integration business. 

The pair also covers many best practices for using your budget as a tool throughout the year, as opposed to creating a budget and putting it on the shelf.

It may be a bit cliché, but they say that when you set goals, they need to be SMART, and it’s the same thing with your budget. Your budget needs to be Specific, Measurable, Achievable, Realistic and Time Centered.” Eric Morris

Our experts answer many important questions including:
- Why should you always be challenging your assumptions?
- How can an integration company build a revenue budget?
- Why is it important to triangulate your work against as many data points as possible
- Why you need to schedule budget review meetings

“Remember, budgeting is an iterative process, and nobody gets it right. We just keep after it and get a little bit better each time,” says Morris. “My company, like everyone else, still has a lot to learn, but we hope we get better with each turn of the crank.”

It’s important to be precise in your assumptions.

If you want to increase gross profits, how are you going to accomplish that?

Optimism is good, but slogans, like Buy Better, don’t help you increase gross profits. “You can’t assume that we can just magically work really hard so our gross margin will increase, and, by golly, we’re going to do better next year,” Morris reports. “You have to be realistic and keep challenging the assumptions.”

Our goal is that when you walk away from this podcast you will create a SMART budget for your integration business. “Because if you don't manage your business differently, the results are not going to be different,” says Harris.

Listen to Part One of this podcast – ClearTalk 25: 4 Reasons Why You Should Have a Budget for Your Integration Business

On this episode of ClearTalk, our President, Joel Harris, is joined by Eric Morris, CFO at Wayne Automatic to discuss why budgeting is important for the success of your integration business.

“You wouldn't go bowling if they covered the pins and you couldn't see how many pins went down. It’s the same thing in this great game of business - you need to know the score.” Eric Morris

Many integration companies are privately held family-owned business, and many of these businesses, in Solutions360’s experience, think budgeting is just for corporate businesses, or something to present to a bank.

However, a budget is a tool that integrators can use in their day-to-day or operational oversight. It’s critical to develop a budget that you can use throughout the year to help monitor and measure your success.

“The most important thing about budgeting is to help you do course correction,” says Morris. “But if you haven’t set a course, you can't do a course correction, no matter whether you're publicly held or privately held.”

Events change rapidly, particularly in the environment we’re in today. Integrators need to know when to pivot. But if you don't first establish what direction you're headed, you can't measure when you're out of sync with the planned outcome. Plus, you lack the ability to pivot quickly when you're not in sync with the planned outcome.

Do you have a 2023 budget for your integration business?

Solutions360 hears all kinds of excuses that integrators offer for not building a budget. Listen to the podcast as our experts go through the top four excuses along with their top four reasons why all integrators should have a 2023 budget.

Convinced that having a budget is a good idea? Stay tuned for Part 2 of this podcast, as we continue the conversation with Best Practices for Creating a Budget.

Don’t miss this episode if you want your integration business to grow and thrive!