This is the third and last article in this series looking at some specific client examples and how they have increased the profitability and efficiencies in their business by taking a more managed approach to their activities and working closely with PlanA Consulting.
We’ll call the business in this case study Business Three and its characteristics are:
- Owner(s) work in business
- 10+ fulltime staff
- Operating in local market for more than 15 years
After the initial planning session a number of immediate issues were identified and they were:
- Cashflow tight
- No financial analysis
- No systems or processes
- Productivity issues
- Fee structure not reflective to cost to business
Work was completed on a number of fronts. This included:
- Immediate focus on productivity
- Steps put in place to improve cashflow
- Other outside experts engaged to assist
- Review done on fee structure and associated costs of delivering their core service – adjustments made
- Internal paperwork reviewed to ensure billable hours not lost and clients being invoiced correctly
Financial information for the company (April10-Oct10 compared against previous year)
- Sales up 3.6%
- GP Margin up by 2%
- Expenses down by 15%
- Profit up by $59,021
If you would like to find various ways to increase both profitability and efficiencies in your business then contact John at PlanA Consulting by clicking here.