Expenses made for the horses should not be a losing game for stables.
Did you know that on average 25% of horses’ expenses incurred are not charged to owners, which is eating into a massive proportion of your profits?
Most offline expense tracking methods are error-prone
Administration offices are generally disconnected from the stables. The staff at the stables are taking care of the horses and handling their stable activities, but with administrators often working away from the stable, it is nearly impossible to accurately register all consumables without interrupting your own pace.
Most of the time, registration is done on a piece of paper and the reporting of the consumed products is done once a day or sometimes even less frequently. Nowadays, several industries are tracking expenses digitally through an app that is accessible via their personal devices because paper is simply less efficient.
As we all know these kinds of methods are error-prone and time-consuming.
You have to go and explain whatever you wrote to the administration officer, or your notes will be interpreted, and mistakes will be made.
Another side effect of this method is that volumes become estimation rather than exact data and often a lot of consumables are not even tracked at all because they are forgotten or deemed less important.
As a result, many expenses made by the stable to owners are inaccurate or not even allocated to the owners in the first place, which has not only a negative effect on the profit of the stables but causes immense amounts of hassle.
Stables should not be penalised for giving horses a good treatment, as it will have an impact both on the horses’ owners and the stables. When a stable loses profit on expenses made to take care of the horses, it will also reduce its power to continue investing in the resources for the horses.
Time is precious
Our time we spend with horses is precious, so why waste it on double reporting and cleaning out the errors. Handing over pieces of paper with hand-written notes, most of the time requires a word of explanation to assure all notes are interpreted correctly. Time is wasted every time staff has to take time out of their work schedule to document an expense which is keeping them from carrying out their main activities. Your staff are expert multi-taskers, give them the appropriate tools to track expenses on the go.
Connect your stable with administration, means 25% more registration and 50% less time spent on administration
Significantly improve expense management by giving all of your staff access to the administration, at all times, while they can continue carrying out stable activities, for example with an app installed on their phones.
“Instant registration on the app and automated billing bring a tremendous amount of value to the stable. It is easier, quicker and more accurate than the old way of managing our stables”
Equstable uses an easy flow to enter data per horse, in a few clicks, expenses are added and instantly allocated to the owner and added to the monthly invoices.
A survey among our users showed that stables using our application, reported on average 25% more expenses than before. Another surprising result that came out of the survey, 50% less time is spent on administrative tasks while registering & allocating expenses and preparing the invoices at the end of the month.
This result was mainly achieved by the real-time allocation of costs to a specific horse and automatically creating and sending the owner’s monthly invoice.
An easy way to bypass the boring and error-prone lists which are mostly done in Excel or Word.
Paper documents and whiteboards seem easy to deal with for stable planning and management, but at the end of the day it is costing money to the stable and is slowing the whole operation down.
Are you curious about the effects of a digital transformation on your equestrian business? Then try it out for yourself during our 21-day free trial with direct support to guide you through the system. This way you can discover for yourself how the digital management of your stable and riding school can transform your business efficiency and to ensure your partners have the information they need to perform.