Not Sure Where to Start With Monitoring and Managing?
Here, 12Faces discusses how and why to measure and monitor business performance and finances. There are simple trend graphs and business ratios that you can monitor in minutes per Quarter to get an indication if your business is developing a weakness somewhere.
What Does This Cover and Why Should You Do It?
Monitor and manage Revenue creation, operations and production; overhead costs; management accounting systems; cash flow and liquidity; business financing and end up with a sustainable business. Sounds like a lot of tedious work; but it doesn’t have to be.
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Choices to Monitor and Manage Business Performance and Finances
Tips on Managing Business Performance: Finances
Are you overwhelmed by financial statements? Do you receive accountants reports to find out that you have worked for little or no Profit for the year? Now, business life does not need to be like that. Finally, act now, click on the link above.
Monitor and Manage Revenue Creation
Revenue management covers many areas – Sales and Marketing; distribution channels; sales territory; cost reduction; pricing strategies; acquiring new businesses; product range; industry wide disruption; customer retention; local competition; growth through innovation.
Monitor and Manage Operations and Production
Operations and production are an important aspect of business performance and finances. Learn to manage inventory; learn about the power of Gross Margin Analysis; reduce production waste relevant to all industry types; motivate staff and improve productivity; monitor operational efficiency and learn to focus on the most important issues.
Monitor and Manage Overhead Costs
Overhead Costs have a direct impact on your Operating Profit. They are costs that do not fluctuate with the day to day operation of your business. Monitor key statistics with the 12Faces ScoreBoard and ChangeBoard. Learn about measuring labour efficiency. Understand what to do if your Overheads efficiency ratio is declining.
Business Performance: Manage Inventory
Learn how to monitor and improve your inventory management with these tools. What are the best inventory management tools; measure inventory performance; measure inventory flow; wastage; days inventory and a lot more.
Business Performance: Management Accounting
What is the difference between Management and Tax Accounting? Management Accounting reports at regular intervals – monthly or quarterly. You are alerted to problems when they are happening instead of after the financial year – Tax Accounting – when it is either too late or a struggle to get on top of. Have money to pay your bills and wages when they are due. Direct links to Tools are available at this link.
Manage Cash Flow and Liquidity
Are you struggling to pay bills when they are due? Struggling to pay wages or take a wage for yourself? Monitoring Cash Flow is an important tool to measure your business performance. Learn how Cash Flow beats Profit; cash conversion cycle; cash flow acceleration; reducing variable costs; boost your Accounts Receivable. Direct links to Courses and Tools are available at this link.
Monitor Business Sustainability
Sustainability is a key part of the 12Faces Mission of Sustainable Business Success. There are a number of ratios that can help with monitoring sustainability; including Sustainable Growth Rate, Margin of Safety, Interest Cover and Liquidity Ratio. Direct links to Courses and Tools are available at this link.
Business Performance: Get Business Financing
Are you wanting to grow your business? Maybe you are wanting to start a business? Is your business experiencing financial trouble? Learn what questions to ask, have the confidence to tell your legal advisor what you want. Understand what type of business setup is available. Maybe Venture Capital is an option. What is your attitude to risk? Read on to get answers.
Manage Areas Where You Are Not An Expert
Sustainable business performance is reliant on many areas of expertise – marketing, sales, finance, staffing, suppliers to name a few. You have a number of options to deal with the areas that fall outside your expertise. Outsourcing, coaching and mentoring are a number of options available. This is dependant on your interest to up skill or if you prefer to spend time on areas of your expertise. Read on to find out which option suits.
Measure and Monitor Business Performance
Use financial ratio analysis to monitor your business performance. Now, make financial decisions in a timely manner by monitoring your Gross Margin Ratio; Liquidity Ratio; Labour Efficiency Ratio. Also, measure cash flow and learn about Throughput Accounting. Not sure what is causing problems that are highlighted in your ratio analysis? Then go to the performance reporting tools to dissect the figures further. Direct link to Tools are available at this link.
How to use our Diagnostics
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Business Symptoms of Unknown Cause
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Investigate Sales, Marketing, Pricing, Customer Retention, Product Range, Distribution Systems symptoms and then eliminate inefficiencies to increase Revenue
See how to Reduce Operating Costs
Reduce Cost of Goods Sold, Production Costs and Operating Costs by improving productivity as discovered by Henry Ford and later improved by Toyota.
Ways to Reduce Overhead Costs
Overhead Costs or Fixed Costs like rent, permanent labour and other costs that do not fluctuate with your day-to-day production levels directly impact on your Operating Profit
Issues with Business Information Systems
Finance, accounting, IT and legals are information systems a business needs. Find solutions to common issues here.
Managing Staff and Your own Productivty
Managing staff and your own productivity are critical issues because people make your business work. Learn more on problem resolution
Business Planning and Business Decision Making Techniques
Planning need not be complex. We show simple solutions with proven effectiveness. Along the way, we introduce some decision making tools to simplify hard decisions.
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