Key Takeaways from our webinar, Financial Foundations for Interior Designers, Session 3: Purchasing & Order Tracking
In the recent session on Purchase Orders and Tracking, Cale Schmit, Head of Success at Materio, covered essential topics focused on purchasing and order tracking, which is here to help you (interior designers) streamline your operations and procurement processes. In this blog post, we will dive into the eight key takeaways from session 3:
No. 1: The Importance of Organized Procurement
Cale emphasized that one of the most critical steps for interior designers looking to get organized is controlling the procurement process. With the Materio platform acting as a "mission control center," designers can track what finishes have been approved by the client, ordered, received, and installed. This ensures projects move forward efficiently, without unnecessary confusion or delays. Materio’s visual interface of confirmed selections also allows clients and team to easily see where the project deliverables stand.
No. 2: Tracking Orders in Real Time
It’s important to ensure tracking is up to date so that the build and project management team can be prepared. Materio offers the ability to submit, record, and track orders, regardless of whether they were placed online or in person. You can manage status updates and communicate progress directly with clients. No more manual follow-ups via email or text messages—clients stay updated automatically through the system.
No. 3: Streamlined Workflow
The platform automates the order process, keeping the workflow on rails. Once a design is approved and invoiced, the system updates automatically and remains visible to the client. This transparency fosters trust and reduces the need for back-and-forth communications about order statuses.
No. 4: Recording Orders, Refunds, and Returns
Cale walked through how to differentiate between an "order" and an "expense" in Materio. Orders relate to forecasted items within the scope of work, while expenses capture incidental or unplanned purchases. He also demonstrated how to record refunds and returns and manage client credits—all crucial for keeping accounting in order.
No. 5 Quickbooks Online Integration for Seamless Accounting
The integration with QuickBooks Online (QBO) allows for smooth synchronization between orders and expenses in Materio and their corresponding accounting entries in QuickBooks. This means orders turn into purchase orders, expenses into bills, and payments sync as bill payments. This automation helps avoid manual entry errors, ensuring that both platforms reflect the same data.
No. 6 Key Differences Between Orders, Items, and Components
Cale outlined how Materio helps distinguish between the overall project "items" visible to clients and the individual "components" that make up those items, such as fabric, materials, and labor. This detailed level of tracking ensures nothing falls through the cracks and that every aspect of a project is accounted for.
No. 7: Best Practices for Managing Finances and Orders
To ensure success, Cale suggested building standard operating procedures (SOPs) to help maintain consistency across projects. Another crucial tip: include contingencies in contracts to allow for any pricing fluctuations. This ensures that designers aren’t left shouldering unexpected cost increases.
No. 8 Additional Features for Managing Client Communication
One of Materio’s standout features is the ability to keep clients informed in real-time. By consolidating order and tracking information, the platform makes it easy for clients to see progress without needing to reach out to the designer constantly. They can see high-level project timeline information like if items have been delivered as well as communicate directly in the platform with the design team.
This webinar provided valuable insights into optimizing procurement and order tracking for interior design businesses. And is a great reminder of the importance of using a comprehensive system like Materio to manage workflows, keep clients informed, and ensure accurate financial tracking. We can always cobble these together with multiple systems like Asana, excel, canva or Designer’s Link/Houzz, but this makes for incredible inefficiency and will block design teams from scaling without headache.
