What information do you track on a regular basis?
Developing the right Key Performance Indicators (KPI) is critical to business success.
In many organizations, there is a need to move from traditional accounting to real financial management.
Creating value for your business requires real financial management.
Accounting only gives you what has happened in the past. You need information that will help you predict the future. This requires emphasis on numbers and management activities that are focused on creating value.
You need:
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Key Perfomance Indicators that go beyond traditional ratio analysis
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A process for gathering competitive intelligencde, so your organization is looking outward at your target markets and thinking strategically
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Measuring the value of your business with an understanding of which parts to work on to increase your value
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Benchmarking your progress
Tools we use:
Questionnaire and assessments - What KPI's are you using now?
Financial review - How do you compare to your peers?
Financial analysis - What the numbers show
How we use them:
Interviews to probe deeper on questionnaire responses
Comparison to industry data
We examine your business from the outside in. We look at your sales and marketing activities and how you acquire customers. We run diagnostic tests, examining your historical information and comparing it to industry averages for your size business. We interview you on your symptoms. We look at your current systems, processes, policies and procedures.
Value:
Before you can build a path to rach your goals, you must first know precisely where you are at, not where you think you might be.
We then pull this all together into a comprehensive report on your business. We use this information to determine if there are any areas that require your attention. We then develop some realistic and workable recommendations for improvement. We act as the general practitioner. We will recommend bringing in specialists to help you work on specific issues, such as marketing, operations or human resources, as needed.
