June 2017

09- Jun2017
Posted By: Terrance
1173 Views

The Beneficiaries of Field Service Management Software

Geographically dispersed work requires great collaboration, coordination and information mobility. That is where field service management software comes in to handle scheduling, dispatch and service parts management. The software automates and streamlines the entire service process and offers connected and disconnected mobility. Field service management software (FSM) helps companies such as HVAC firms plumbing companies, and electricians to send technicians into the field.

FSM software can automate most tasks currently done on paper like invoicing and scheduling. Additionally, the software enhances communication between professionals on the ground and employees in the office with the use of bills or work orders. Candidates of FSM software are companies whose field work is fundamental to their model. Such companies have their assets and equipment located across extensive geographic areas; thus, they require inspections, repairs, efficient monitoring, testing, and installation.

How FSM software helps the company:

Managers
Managers in an organization no longer have to call technicians or wait for them to come in to collect orders. FSM software helps managers to dispatch through features such as automatic invoicing and scheduling. The features aid in saving time for managers by carrying out a job that is hard to do on paper easily. Automatic scheduling reminders give managers peace of mind knowing that your workers will not miss an appointment.

Customers
Customers can use the client portal to schedule appointments without the struggle of calling the office. Additionally, FSM software enables clients to receive calls 30 minutes before a service technician arrives at their location to alert them that the technician is on the way. Clients also get a detailed description of the professional’s work including what they will fix and the pricing. FSM software enables customers to pay for the task after its competition. For additional information, visit Miracle Service and learn more from their online resources.

Technicians

Technicians have less down time in their day because they don’t have to go back to the office to pick up work orders or turn in invoices. FSM software has mobile solution feature that helps technicians to trace a job location in the fastest way possible through the GPS system. Additionally, technicians have the service history of a site at their fingerprints. Therefore, they quickly learn helpful tips such as parts that have caused trouble in the past as well as what they should consider. Consequently, the inventory manager ensures that the technician never gets stuck at a site without the necessary tools or equipment.

FSM software is also used for accounting purposes. You can easily manage account transactions, which keeps accountants updated on the available funds and the capacity to work within the budget. Additionally, the software can be used to import and export data for use with standard software applications. The best part is that the software provides flexibility without compromising on quality and time.

FSM software helps in managing and field service scheduling work. Additionally, technicians can offer better preventative maintenance services, which improve customer experience. Every company should consider purchasing field service management software.

08- Jun2017
Posted By: Terrance
367 Views

Four Important Tips to Have When Negotiating Personal Guarantee

If, by some change, you do manage to get a loan, you will notice they don’t have strict rules like you being asked to read and sign a personal guarantee form which will put your own assets like real estate, car/s, savings, and other valuables, at the lender’s hands should you fail to repay the loan. Most of the time, you find that businesses and business owners feel so relieved and overjoyed of getting a loan that they forget to read the fine print binding the loan. And you find that this is what usually puts them at risk.

But it is extremely vital that you read the fine print of the loan you are about to take, and even try to negotiate the terms of the agreement. Who knows, you may be lucky and find things like the interest rates being adjusted more in your favor. In most borrowing situations, you find that the lender is the person always in the driver’s seat, and it is what he/she says that is the law on the loan. But there are some occasions and tips that you can apply when negotiating personal guarantee agreements that can help you seize some control over the terms too. Here are some of them that you can try out and see how they work out for you and your business.

1. Spread the risk

There are times when you will find that all the owners of the business, and not just the primary owner, are needed to sign the personal guarantee forms of the lender. If your business has multiple investors, for example, who own at least 10% of the business each. The lender may require that all of them put their signatures on the personal guarantee form. This ensures that each of the investors should be liable for some portion of the loan and any risks incurred as well. But it is advisable that each person who puts his/her signature on the personal guarantee form only accounts for the risk of the equivalent amount to his/her percentage of the company’s investment. In this case, for example, each investor should only be liable for 10% of the debt should anything go wrong.

2. Shorten the time frame

Many personal guarantee forms are usually signed ‘unconditionally and forever’ and for the term of the loan, it is advisable that you, the borrower, try to negotiate with the lender on an end date for the loan. You can request, for example, that the terms set on the personal guarantee form only applies to a portion of the total time that you are given to repay the loan. You can also try and negotiate an end date on some provisions of the personal guarantee agreement.

3. Limit the amount of guarantee

As the borrower, you can also try and protect yourself by requesting to have only a percentage, or portion of the loan to be covered by the personal agreement. Say, for example, that you are borrowing $1 million. What you can do here is try and negotiate with the lender if it can be possible to have the personal guarantee to cover only 60% of the whole loan. This will protect your business from suffering the loss of the whole $1 million should the business default to pay back the full loan amount. At least your collateral and personal assets will be off the hook for the whole $1 million.

4. Beware of risking it all

Before you agree to sign the personal guarantee form, you need to, first, carve out some of your assets that the bank can seize like your home should you default to pay back the loan. Some states in the U.S. like Texas and Florida, have it in law that banks or any other lenders can’t seize your homestead if you default to pay back any loan. But if you live in a state where this is not law, then you need to ensure that you cover these assets and protect the assets that you can’t afford to risk.

Categories: