LaborCast | LOB Financial Reporting for ConnectWise PSA
Make Strategic Solutions Easier
Profitability is the ability of a business to earn a profit. A profit is what is left of the revenue a business generates after it pays all expenses directly related to the generation of the revenue, such as producing a product, and other expenses related to the conduct of the business activities.
By identifying the REAL profitability of each of your Line of Businesses (LoB), business owners can make better strategic decisions. REAL profitability gives business owners an easier ability to identify winning and losing business units, making it easier to decide what to do about it. (ie. close the LoB, put more resources into it to make it better, etc.)
Do you know your direct labor costs by Line of Business (LOB)?
Relying on guesswork for business decisions due to a lack of accurate financial data can lead to significant consequences. This often occurs when essential reports are unavailable, leaving you without crucial information. Merely having a standard finance report outlining your gross margin is insufficient for effectively managing and assessing your company’s performance.
Consider a common scenario: Your intuition tells you that your business operations need improvement. However, upon examining your profit and loss statements, you realize they don’t offer insight into which areas of your business require enhancement. Consequently, you’re left to speculate, estimate, and invest time in complex calculations. Despite your efforts, you still lack the necessary information, resulting in little more than an educated guess.
To address this challenge, we present LaborCast! Labor cost by business unit reporting in minutes instead of hours
Typical financial report before LaborCast
Limited to summarized figures, these financial P&L reports hinder the attainment of a precise understanding.
Enhanced financial report after LaborCast
Breaking out business units allows for a more defined view.
To manually produce with the same amount of accuracy, would take hours each payroll.
The profitability of a business refers to its ability to generate profit or financial gain from its operations. It's typically measured by comparing the revenue earned from sales or services against the expenses incurred in running the business. Profitability can be assessed using various financial metrics such as net profit margin, return on investment (ROI), return on equity (ROE), and gross profit margin. Essentially, it indicates how efficiently a business is utilizing its resources to generate earnings.
LaborCast Benefits Include
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$149
monthly
- Proof of payroll
- Assists with over time calculations
- IIF file to import into QuickBooks to automate journal entries
- Requires ConnectWise Manage
- Requires specific GL Mappings to properly function
- Support included
- Unlimited Users
- Flat Monthly Rate
Common Questions
Username and password is required to access
No. LaborCast is licensed by company.
Initial setup takes less than an hour.
Yes, LaborCast is cloud based, only requiring the URL and API key to access your server. Cloud hosted or On-Premises is supported.