Do YOU Have Your Company Metrics "at Your Fingertips"?
Running your company requires an incredible amount of data... but how do you sift and sort that data into something beyond the rear view perspective of accounting reports at the close of every month? Maybe you’re collecting important metrics – you might even have a dashboard from your ERP or accounting software, but is the data you get timely, accurate, and does it help you make the short-term or the long-term critical decisions? Do you sometimes feel overwhelmed or worse – surprised – occasionally?
Then, we’ll boil it all down to your own set of operating and financial metrics – and show you how to zoom into the business – or any part of it – with a few strokes of your keyboard or your smartphone.
- Financial consulting -to handle rapid growth, preserve capital or do contingency plans;
- Cost-accounting -what’s the true cost of... any part, any process, any order;
- Key metrics -customized management dashboard... drill-down, actionable reporting on-demand;
- Contribution margin -management objectives/goals or profit-sharing tools and metrics to drive individual profit/cost-center performance Plans;
- Peer group -how well are we doing, is a... process, activity, department competitive or are we falling behind?
- Audit -prepare for a … customer, headquarters, tax or accounting audit.
Case Study: [$20MM Capital Equipment Manufacturer]
Problem: Our client was merged into a $1B major international manufacturer’s operations – the goal being to acquire its unique engineering designs and ramp production dramatically to fulfill a new customer’s $100MM order. The parent company needed to: (1) accurately cost this new technology; (2) evaluate every business process to determine where among its varied domestic and international operations the new entity’s activities fit; and (3) begin the integration of accounting, engineering, operations and reporting systems so the parent corporation could successfully manage this large, multi-year effort – to fulfill the new customer’s demanding delivery timetable.
101MFG’s Approach: Virtually every single management reporting process and system had to migrate from the operating unit to the parent’s new systems… sales-order & forecasts, engineering/design & BoM’s, ERP and cost-accounting, procurement and HR. And, the customer’s demanding build schedule for a product that didn’t yet have a standard BoM had to be fulfilled from geographically distributed engineering & design, production, spares and customer engineering facilities located around the world.
- Our associate conducted operating and cost-accounting audits to determine key benchmarks and to help the parent corporation assess progress against the build-schedule metrics;
- The new ERP system [SAP] was introduced and training conducted for the operating unit;
- A new weekly management reporting system was put in place, and operating managers were taught how to use it.
Results: This extremely large and demanding project – to fulfill the new customer’s orders over the next three years for more than $100MM of business – is on schedule. Management participants – located across geographies with responsibilities from engineering to finance to sales and operations – have weekly visibility and a common understanding of which issues – and the plans to resolve them – are the top priorities to keep the program on schedule and on budget.
- We start with our proven, proprietary model of the data you need to run your unique business.
- We’ll audit your operating and financial controls and procedures – are they reliable, accurate and complete? Are you collecting the right data – or is it just what the accountant needs?
- We focus on turning your ‘accounting’ view into an operational view – and we provide analytics to give you up-to-the moment trends, flag problems or identify root cause – while there is still time to do something about them.
- Surprisingly, we find many companies do NOT have accurate or useful cost information. We’ll show you how to cost… any part, any process, any customer’s order.