Maymead, Inc

Although farming, aggregate supply, asphalt production, and real estate development are part of the diverse mix of services provided by the Maymead family of companies, construction services are its main business. Maymead focuses on paving and related work for highways and roads, as well as commercial and industrial sites.

For the past two decades, Maymead has used Maxwell Systems StreetSmarts, the business management software solution designed for heavy and highway construction. Since 1984, Maymead has grown from $4 million to $50 million—adding only one accounting staff member during that time.

Maymead, Inc., which is headquartered in Mountain City, Tennessee, has been in the paving business since 1980. For more than 20 years, Maymead has used Maxwell Systems StreetSmarts to help manage and streamline its business operations. StreetSmarts has helped the company manage processes such as tracking scale house information and streamlining payroll, which is done inhouse for its 180 employees.

However, as CFO Tom Purpur explains, the ability to get information out of StreetSmarts for real-time financial insight is what he credits as essential to the Company.

“The industry-specific accounting functions are important for us,” Purpur said, citing examples such as remote billing, a scale house interface, and the ability to handle retainage. “But the flexibility of the software and the ability to use an ad-hoc report writer is the key.”

Data Mining: Unearthing Information is Critical for Success

Maymead knows what it takes to successfully operate a quarry: the company has been mining lime since the Great Depression. Purpur explains that data mining is just as critical to the overall success of Maymead, as it’s one of the vital elements for understanding financial standings at any given point in time.

“One of the most important things about StreetSmarts is the ability to mine data with the ad-hoc report writer,” said Purpur. “It has dramatically increased our ability to manage information, and the owners have much more confidence in the information that they are getting.”

Purpur is able to provide current information to owners each month during the company’s over/under billing meetings.

“Our ability to have over/under billings monthly, which is a direct result of being able to produce the necessary reports with the software, gives us much more timely feedback on which projects are doing well—and not so well—and to take corrective action,” he said.

During these monthly meetings, Purpur he can immediately determine if Maymead has booked earnings, payments, and receipts. “And because of the flexibility of the system, we can grab information quickly and satisfy questions then and there,” Purpur said. “The outcome of over/under billing meetings can change the bottom line of our financials drastically in a month, so it’s important.”

When It Comes to Mining and Interpreting Data, Flexibility Counts

Extracting critical financial data from a job cost accounting system is only half the battle. The other half is being able to use the information. The flexibility provided by StreetSmarts’ user-defined fields is essential to Purpur, and integrated tools such as StreetReporter help ensure that extracted data can be manipulated for relevant and understandable reporting.

“User-defined fields are very helpful,” Purpur explains. “You can create new fields and create reports from those fields or derivatives of those fields without requesting custom modifications.”

Purpur takes advantage of user-defined fields, for example, to track dates of motor vehicle reports. With fields that he’s created, he can easily determine when new motor vehicle reports are due. In addition, user-defined fields help Maymead track asphalt testing certifications and renewal dates.

Once the data has been extracted from the StreetSmarts database, integrated reporting utilities such as StreetReporter are important for manipulating data. Purpur said that StreetReporter is helpful when providing information to Maymead’s owners, customers, and other external sources; the utility lets users provide the desired level of information to satisfy individual requirements.

“For banks and bonding companies that want interim financial statements, you can quickly produce the right report with StreetReporter,” Purpur explains. “It’s flexible and it’s easy to get good results.”

Maymead also sees improved customer service as part of its ability to quickly access and share information.

“We can provide answers to our customers more quickly, and we can provide our vendors information about what we paid them and when we paid them more easily,” Purpur said. “I don’t have to go digging through invoices or other manual file systems to get our data.”

A Look Ahead: Managing Growth with Accessible Information, Flexibility

As Maymead continues to enjoy success throughout the region, Purpur hopes to further automate Maymead’s asphalt plants and scales houses. He’ll accomplish this in part by extending the functionality of StreetSmarts with integrated, industry-specific applications such as ScaleSmarts. This add-on product is designed for scale operations that require customer tracking and ticket printing capabilities.

“As we transform from a company that produces materials for itself to a company that sells asphalt retail, we’ll move toward greater automation of our plants,” Purpur said.

Note:The Maymead family of companies, which grew up out of family farming operations, has a rich history that includes stories of King George II, Daniel Boone, and artifacts that appear in the Smithsonian Institution. Read about the company’s diverse background at www.maymead.com.