Business Development Guidance - Stage Three
Information for Decision Making
Historically, accounts were produced once a year, with a copy sent to HM Revenue & Customs and the bank. Businesses often did not fully understand the meaning of the figures which may have been out of date at the time of decision making.
Today, there is a lot of relevant information being stored on businesses' computer systems. This is not all about generating up-to date accounts, but gathering important customer information which can maximise opportunities for business development.
Needs to be Current
How up-to-date are your accounts?
Monthly/Quarterly management figures
Relevant stock and work in progress figures
Cash flow forecasting matched to actual figures
Needs to be Frequent
How often do you input your data?
Does this allow you to make up-to-date decisions?
Utilise computer data
Does your software hold key data?
Do you understand how your software can produce relevant customer information reports?
Maximise Opportunities for Development
Do you know what profit margin individual sales lines are making?
Do you know which items or areas make money and/or lose money?
Use of Sales Statistics
Are your customer database details correct?
How often do they generate sales?
Is there seasonal variation?
Which customers need to be contacted?
C&Co PLUS is different as it builds up knowledge of how to maximise the information from software packages to provide relevant information and ratios to assist in business development.