Need:
The client was a professional services firm that provided accessibility testing and training for businesses and organizations. The client had realized that they were not getting the management information that they needed to manage the business properly, and that they were not able to provide their bank with the specific information that it needed. In addition, the client did not know the exact profitability of each position/employee. As a result, they engaged Warren Whitney’s Scott Warren to conduct an operational review of the company’s accounting and informational functions.
Service:
Scott began his process by interviewing the management team to determine the information that they needed in comparison to the information that they had actually collected. Next, he interviewed the accounting team and analyzed their data flow and reporting.
After the interviews, Scott mapped the flow of all the information to determine whether or not all the data that was needed was actually being collected. He also investigated how the data was analyzed and how it could be compiled into useful management reports.
During the process, Scott determined that the client’s current financial systems had the capability to produce what the company needed, however, the staff just needed to input the appropriate information in an accurate, timely manner. Then Scott designed the appropriate management reports and worked with the management team on how to understand and utilize the information in the reports.
Result:
The improvements in accounting and informational processes allowed the company to increase revenue by 20 percent. It also enabled the company decrease payroll by 10 percent, as they were able to keep better track of remote employees’ hours.
