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Business Intelligence Is It Beyond Me?

September 29, 2016

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Why Isn't Your Bookkeeper Your Superstar?

August 15, 2017

 

Good CI companies pride themselves on having a “Rainmaker” – that person we count on to make Sales happen. And, what CI business can run without a “Super Tech” that we can go to with any technical problem? But the real Superstar in your business may be the Senior Admin or bookkeeper.

 

Consider the difference between so-so and exceptional when reporting the results and giving guidance to the business.  Our experience shows that the great majority of CI companies have difficulty getting the numbers right.

 

In fact, the usual attitude towards capturing the numbers is to accept the minimum required to pay ourselves and get monthly sales taxes filed.

 

With over 95% of CI companies using QuickBooks we find few, if any, use it strategically. This reduces the bookkeeper to a necessary evil, not the key role he/she could play in your business.

 

Counting right: you can greatly accelerate your business. We’ve seen it happen numerous times. Two of our newest Bi4Ci clients are once again demonstrating the substantial gains that come with better counting. Here are the simple requirements:

 

  1. Adopt the standardized VITAL Chart of Accounts (2 hours)

  2. Conform item list to the account structure (8 hours)

  3. Adopt production-based revenue recognition (10 hours)

  4. Keep inventory as an asset (4 hours)

  5. Track client deposits as a liability / “gift card” (2 hours)

  6. Progress bill all projects at least weekly in QB (continuous)

  7. Use key information to execute projects better (continuous)

  8. Use industry verified metrics to measure & improve your productivity. (continuous)

 

Yes, it’s work. Maybe different than some of the work you currently do. But once in place, its less than the work you scramble to get done today.

 

The organizational cost to make your bookkeeper a SUPERSTAR can be as little as $1,000 (our base cost for VITAL QB set-up. Additional time with our QB Pro is available as needed). You’ll also need to invest about 40 hours of organizational time. That is a far, far lower cost than letting bad information continue to run your business.

 

Why not turn your key admin person into the high impact employee he/she could be? There are tens and even hundreds of thousands of dollars of stepped-over profits to be realized when you have the right information.

 

Read what James in Texas has to say about the transformation of his business in just six months… “The systems and metrics that these guys have developed are clear, concise, and proven.  After making a variety of adjustments in our daily business practices, our company is realizing profitability that we did not think was possible. Best revelation in 20 years.”

 

WE CHALLENGE YOU TO DO SOMETHING ABOUT IT.  Go to bi4ci; sign-up for the set-up part of the service. www.bi4ci.com/order. Even if you don’t throw the switch to get the dashboards you will drastically improve your business.

 

Stay Vital

 

 

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