Accounting, ERP, Point of Sale (POS), inventory and billing systems all have to relate to one another. There have to be checks and balances, and you have to know what those checks and balances are. Many people set up Quickbooks and off they run. “Heck, between Quickbooks and Turbo Tax what else do I need?” (You might be amazed how many businesses are run on hope, Quickbooks and Turbo Tax). This is not a long term strategy, nor a survival and growth model.
Systems exist to help us capture and analyze what is happening at each point along the pipeline, and make decisions and improvements to process and purchasing to increase efficiencies and take advantage of market opportunities. Without appropriate systems, you may have a growing problem in your company and not even know it.
We helped one client to implement a few of these checks and balances, and the first number that popped out to them was the cost of HR when compared to the cost of goods sold. This client had more than 80% of the cost of goods sold in HR expense. That is a recipe for extinction, and the client was able to take a much closer look at all aspects of product delivery and employee assets and how they were used to deliver billable events to their clients.
We invite you to call Allen Barron for a free initial consultation at 866-631-3470 to discuss your unique business operations and the steps that can be taken to improve profitability, and position your company for tremendous growth.