Many integration companies struggle with the inefficiencies of relying on multiple systems to run their business: CRM, quoting, proposal generation, project management (planning and tracking schedules and resources), purchasing, inventory, service contracts and dispatch, accounting (invoicing and accounts payable), etc.
While there are literally hundreds of possible key performance metrics you can use to run your business, how do you select the critical few that you use as a dashboard for your executive team?
Monthly Recurring Revenue (MRR) is income that a business expects to receive every single month – a predictable revenue stream, which can sustain a company through the ebbs and flows of its project-based, or non-recurring, revenue sources.
The management of subcontractors has become even more important in recent years due to the labor shortage of skilled and full-time employees and supply chain disruptions. This session will cover the key concepts of a fixed vs. variable workforce and its impact on a company’s culture and quality.
Often financial and management reporting is only thought about from the lens of Generally Accepted Accounting Principles (GAAP) or bank reporting requirements and it does not serve your business management needs. Your financial and management reporting should be organized around the way you run your business and this session will give you suggestions on how …
New orders (projects and service) are the lifeblood of your business. Does your commission program help drive revenue? Does what your Sales team sells align with the company’s strategy, competencies and capabilities?
The purpose of any business is to make money, and for a project-based business, proper job costing is the most effective way to ensure that occurs. Job costing is the accounting which tracks the costs and revenues by job and enables standardized reporting of profitability for each job. For a typical job this will include …
The Project Management Office (PMO) is a standard structure in most mature organizations today – across multiple industries. This session will speak to the importance of establishing a PMO mindset within a Systems Integration company – and detail specific steps to establishing, assessing, scoring and ultimately achieving a successful PMO structure.
Understand how to define your company’s competitive advantage.
Monthly Sales and operations Planning meetings are designed to reduce or eliminate the common practices we see today in many companies: (1) Monthly Income Statement looks like irregular heartbeat chart of a very sick patient (spikes everywhere); (2)Management has no visibility into income / cash forecast; (3) Management is surprised by monthly results each month; …
L30: Monthly Sales and Operations Planning Meetings Read More »
Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action. Effective problem solving requires a systematic approach to defining the problem (question or situation that presents uncertainty, perplexity or …
Key Performance Metrics drive employee behavior – across all levels and functions of the company. Well formulated metrics align the intended behavior with the company’s strategy and goals.
Managerial finance builds upon accounting data (past performance) to include business segment analysis, break-even analysis as well as forecasts and trends to provide management tools to run the business versus just reporting the historical results.
Succession planning is more than just about selling / leaving your company – it’s about growing the next generation of leadership and management within your organization – starting today. A Comprehensive Succession Plan is different from an “Exit” – A succession plan transfers management responsibility and leadership and direction of the business. It is focused …
L14: Succession Planning & Next Generation Development Read More »
