Joint Venture of Plywood Oceanics and Bond & Bond Case Study

¶ … Technical Systems

Persistent Technicals Inc. (PTI) established in 1985, is a fast-growing dominant leader in system automation that specializes in the BOT (Build-Operate-Transfer) methodology suited primarily for the municipal industry. With over 7,000 jobs, in its almost three decades of operations and experience, PTI commands a domineering presence in the industry it operates. Its business acumen, technological expertise, range of sactivity and financials are much better than most of the other companies that compete in the industry.

Engineering services provided by PTI include process information management, distributed control systems (DCS), programmable logic controllers and SCADA, project management, along with human machine interface (HMI), power monitoring,, the design and programming of remote telemetry, instrumentation, variable speed drives, motor and motion control, temperature control, and. It also provides for installation, commissioning and training, Custom panel fabrication, and technical on-site services.

The company has good insight of smaller third-party collaborations whose help is needed by larger companies. It is quite adept at providing for handling the on-site work projections and accounting for most of the variations through foresight.

In addition, the services provided by TSI include work-flow accounting modules that can be woven into larger accounting software packages. Such Financials are used to create financials of a corporate that are critical to their financing needs and require updated inputs from the work- sites quite often- a factor often overlooked by other integration companies.

Current situation

PTI has been using SoftBit services since 1996. They currently are using SoftBit Service Management Series Job Cost, Microsoft Dynamics® GTimeTrack and P. SoftBit Job Cost enhances organizational accounting transactions and processes by tracking and managing materials, labor, billing, subcontractors, P.O.s, and other related items. SoftBit Service Management Series improves field service of the organizations by accounting and logging service calls, dispatching tracking resolutions, assignments, and managing contracts.

Takeoff Software Solutions provides the business software solution assistance for PTI that it requires to integrate with its different clients, work and schedules.. Headquartered in New York, Takeoff Software Solutions dedicates itself to improving and facilitating business of clients through improvements in Microsoft Dynamics GP and its expertise in the field is proven by the value provided to PTI, which is now the most diversified player in the municipal industry. Of particular importance in the context of JV to the larger corporation (in automation and control industry) is its ability to crystallize bonding and insurance procedures in tangible terms. Towards which, PTI needs to be able to extrapolate its accruals and growth in the near future (three to five years) - a facet it was struggling with till its collaboration with Softbit. PTI needed to explain in detail its operations and projections to agents - a time consuming, tedious affair. SoftBit helped PTI display its capability of projections and growth efficiently through software packages that could effectively work out all financials including labor costs, travel and even, material expenditures against estimations in greater detail. The ease of access to such figures created a positive, lasting impression on the agent which helped him in his deliberations with client companies regarding the professionalism and capability of PTI. SoftBit also helped the corporation - client as well as suppliers (PTI) to create timelined reports (towards bonding) and the insurance sector company required to secure professional insurance for its workers. PTI was able to secure, as a result of this JV, bid bonds, performance bonds, construction lein bonds and labor and material payment bonds; they also managed to secure liability insurance and builder risk insurance.

Stimulating Growth and Development

SoftBit has assisted TSI in accumulating revenue, handling bills and other necessary statements, reducing slip-ups as well as duplicate records or items in the inventory, and increasing efficiency. It has additionally assisted in shaping value for PTI via its adaptable and modular services in all its software needs, whenever PTI needed services from a third-party for its temporary, if immediate, urgent needs.