To find out how we transformed the future of a large printing company going through difficult times, please click on the link below.

Printing

 

To find out how we helped a Graphic Design agency to increase quality sales please click on the link below.

Graphic Designers

 

For more information on how we helped an IT service provider raise finance, please click on the link below.

IT Service Provider

 

For more information on how we have helped a Social Enterprise develop their business, raise funds and structure their organisation, please click on the link below.

Social Enterprise

 

For details of how we helped a Search Engine Optimisation company construct a new pricing model that worked as a unique selling point, please click on the file link below.

SEO

A new CEO arrived. He was determined to improve customer service in order to maximise profits. Could the two be achieved hand in hand? The first stage was to understand who bought what, and how much money the company made out of each product and customer. A "customer account profitability" programme was introduced. This involved working out the "profit" made out of each customer & product, training the sales and marketing staff to understood what the numbers meant, and reducing the cost that did not service the customer. The result? A sales force who understood who to sell to and which products to sell more of in order to make more money.

The company was in a difficult financial situation. Things had to change and fast. The management team were each asked to come up with cost saving, efficiency increasing ideas that would work and were measurable. The production director said he would improve output by 10% by teaching his staff to reduce make ready times and consolidate jobs. The maintenance engineer said he would support that by servicing the machines regularly and upgrading worn out parts. The HR manager looked at reducing the staff to machine ratio. The finance director implemented tighter cash management controls, and the purchasing manager restricted buying activity. The point? The change began with consulting the people who could actively make a difference. The change management process worked, and it ended with better profits and a management team who were proud of their achievements.

"Cost control is the Finance Director's responsibility" was the previous FD's philosophy. "No one can spend anything unless I say so." What happened? The fellow senior executives didn't spend anything because they didn't want to ask permission. The company stood still. Costs were under control, but no one saw company performance as their responsibility - they just got on with their own job. The FD left to further his career, and it was left to the Financial Controller (Michelle) to manage the company finances. The detailed budget was split down between the directors & senior managers, each having his/her own area of responsibility. A multi level report was introduced that gave the operational managers the actual versus budget detail they needed, and the management team an overview of each manager's performance. Costs were still kept under control, but now all the members of the management team were involved and understood their impact on company performance.

It was taking 120 days to receive cash from its customers. But the payment terms were 30 days from date of invoice. Why was it taking so long to get the money in? A comprehensive review was taken of the despatch and invoicing processes. The credit controller was given the authority to change the system. She accepted the challenge and went on to implement a new invoicing procedure that made sure the right charge was being made for the job, that the invoice quoted all the right references and that it went to the right person first time. Michelle, as finance director, introduced a cash forecasting tool that included a detailed list of who was due to pay what when. Any queries were quickly dealt with. The cash balance increased by £2.5m and debtor days consistently came in under 50.