Asking the right questions to help you improve your profitability for a secure future.
Turnover is vanity, profit is sanity and cash is king – a well worn mantra in many businesses but surprisingly often overlooked when a new business opportunity beckons. It is imperative to evaluate all the work a business does to ensure it delivers an appropriate contribution.
Technology, reorganisation and even careful outsourcing of some work or administration can all help improve profitability and therefore the success of an organisation. However, in many cases everyone is simply too busy servicing the clients to stop and think about new ways of doing things.
Ignoring opportunities to improve processes and thus productivity can put your business at risk but, overdo the innovation and your organisation grinds to a halt.
If you would welcome some tools to help you understand your financial health better or would welcome some ideas on improving your efficiency and service proposition, perhaps we can help. Here are just a few of the questions we ask to help you look to enhance your profit. After that we can work with you to devise and deliver smart new solutions
Finance and structure
- Do you budget successfully?
- Are you modelling and monitoring business performance to measure your profitability?
- Is your organisation increasing productivity?
- Can you see where leakage occurs and respond?
- Are your financial risks properly understood and managed?
- Can you access all the financial information you need to ensure you are meeting your financial targets?
- Is there an effective system of governance and reporting in place?
- Do your business processes deliver sustainable profitability?
- Are your teams properly resourced and balanced to deliver great service and efficiency?
- Is technology used to best effect in your business?
- Could restructuring or outsourcing improve your profitability?
Quality and service
- Are complaints and claims impacting on your profitability?
- Do you use your quality standards to best effect?
- Is your service delivery improving the cost of business acquisition?
“Success does not consist in never making mistakes but in never making the same one a second time” George Bernard Shaw
For financial modelling tools, process review and programmes to improve profitability CONTACT US