Business Intelligence for Custom Integrators
The first 60 days of taking on the VITAL SYSTEM 2.0 is education and preparation to get your accounting/counting aligned with our standardized approach. It is very important that you not only follow the system, but also that everyone involved has an understanding of why things are done the way the VITAL MGMT system works.
Starting with your current financials and chart of accounts, the following items are implemented:
- Align your chart of accounts
- Check revenue recognition
- Balance sheet treatment
- Create project estimates
- Review posting requirements
- Proper payroll census
- Series of standard reports
- Develop an Annual Plan
- Critical bidding practices
- Monthly coaching sessions
- Uncover key processes
- Help of others smart business owners
So what does it take?
A strong commitment by the owner to improve and WIN through performance management
Adaptability of the bookkeeping/accounting staff to adopt the new system
An ability to engage the team in the effort with full accountability
What Results Have Owners Seen?
- First year results are 3 to 13 points of bottom line profit improvement, that is, $100K’s to the bottom line.
- Cash coverage of deposits from customer invariably double.
- Labor productivity increases: from 20% to as much as 50%; $2K to $4K per tech per month, increased billing is normal.
- Sales productivity & pipeline improvement typically follows allowing 15% to 25% growth.
Once more, no software conversion required, no need to hire a CFO, just better performance for what you would pay a $6.00/hr. full time admin person. Nothing you do will give you a higher ROI.
You work too hard to not get the most out of your business.
Get started today, the cost of not doing it is about $1,000 a day in missed profit.