When margins get thin, the first instinct is to raise prices or cut a supplier. Often the real cost is buried in how the work gets done, and raising prices only papers over it.
The first sign is rework. If jobs regularly come back for correction, you are paying twice for the same output and the customer is absorbing the delay. The second sign is the memory problem: if only one or two people know how something is done, the business stops when they are away, and mistakes are invisible until they are expensive.
The third sign is the shadow spreadsheet. When someone maintains a private spreadsheet to make the official system usable, the process and the software have quietly parted ways, and someone is being paid to bridge the gap by hand every week.
Any one of these means there is money to recover before you touch your prices.