How to Mitigate the 4 Biggest Challenges Facing Restoration Companies

The restoration industry is not what it used to be. Increases in performance monitoring, risk exposure, administrative requirements and ever-growing severities due to climate change, all contribute to the complexities of running a restoration business. There’s constant pressure to ensure the job follows standard service levels and gets done quickly. That said, many of these hurdles can be easily overcome by having the right tools and job management solution in place.

Let’s take a look at how to mitigate the top four issues facing the restoration industry, and what business owners like you can do to help alleviate those challenges.

Challenge #1: No Secure Data Storage Solution

Information management and data storage have changed a lot in recent years. An entire filing cabinet worth of documents can now easily be stored on a 1 terabyte hard drive that costs less than $100. The problem with this is that keeping important job and company data on a flash or hard drive poses a significant risk for any business.

The cost to maintain and manage local servers has not decreased, but online storage has. Plus, from a risk management perspective, managing and storing all that data onsite can cripple any business should they suffer a significant loss .

Business Damage

The Red Cross reported that around 40 percent of businesses hit by a natural disaster, such as flooding or a wildfire, do not bounce back from the event. Although there are many reasons for this, one major deterrent keeping businesses from getting back into their routine after a catastrophe is the fact that all of their essential data may have been destroyed .

Restoration Data Security

Challenge #2: Too Much Data

Companies are creating too much data these days.

According to an EMC report by analysis firm IDC, the amount of data companies are needing to store and manage is doubling every year or so. As you can imagine, this task becomes even more challenging for companies managing data onsite.

Having to continually manage and scale up the hardware used for storage simply isn’t cost-efficient. Storing your data in the cloud is the best way to combat this problem since cloud-based storage is incredibly scalable and cost-effective. Utilizing a job restoration management platform like DASH allows for a “one-and-done” solution to your data storage needs.

On top of that, storing your information in the cloud makes it much more accessible in the wake of a disaster. While you should also consider investing in a backup solution for your most vital records, keeping it secure in the cloud is a significant first step toward mitigating the risk of total data loss.

Challenge #3: Maintaining Performance Levels

The key to getting recurring business is not only excellent customer service but also shortening the insurance claim lifecycle. In today’s claim environment, it’s critical to stay on top of all critical job milestones and accurately reporting those milestones.

Carriers award claims to companies that are top performers. That means if your company is performing below market average, chances are you are not getting your fair share of the claim pie. However, for any company doing program work, it’s near impossible to remember each carrier’s unique claim requirements.

Restoration Workflow

To help, Next Gear Solutions developed a comprehensive workflow system to help navigate this challenge with ease and automation. Combining DASH’s workflow builder and powerful integrations with both Xactanalysis and Symbility, restoration companies can streamline their operations and avoid having to guess when it comes to carrier requirements. This enables companies to manage their schedules better and line up their teams more appropriately.

Restoration Job Management Software

To help owners and managers track performance, Next Gear Solutions developed exclusively for DASH, VPASS. Based on Six Sigma methodology, VPASS is a dynamic and transparent method of measuring and quantifying overall performance, while more importantly predicting future performance.

VPASS is the first performance score that predicts future behavior by using the past. This metric uses past performance to help owners, managers, and their staff understands how they are performing and how likely they are to be compliant going forward. VPASS becomes a critical tool for top performing restoration companies to leverage data-driven business intelligence to compete and capture a larger market share.

In addition to timeline performance, it’s also increasingly important that your jobs, especially your mitigation jobs, adhere to the S500 industry standard. Next Gear’s integrated MICA mobility solution helps all of your field staff know what data needs to be captured in the field and automates the decision-making process on type and quantity of equipment needed to be successful in mitigation and in billing and collections.

Challenge #4: Lack of Real-Time Communication

Communication is the primary catalyst in determining whether a job will create happy or unhappy customers. Ensuring that all communication channels are open is pivotal to a company’s success. DASH not only moves information in real-time but also increases valuable communication like never before.

Capturing and sharing information from the field in real-time provides a window into the job. Skip the phone tag. Quickly send photos and non-confidential note s to people outside your organization through a simple email link. Insurance adjusters, external stakeholders, and the customer can all have easy access to critical information, strengthening these important relationships and ensuring jobs get finished on-time and on budget.

Restoration Job Management Software

The restoration business may have its complexities, but that doesn’t mean that they can’t be overcome. Market leaders all over the world have adopted DASH to optimize their operations. DASH Enterprise was built to accommodate the most strenuous of data, performance or communication issues the average contractor will run into. To find out more about how DASH can transform your business, schedule a free consultation .

Restoration Job Management Software

 

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