So here’s the real question … When was the last time your CFO talked DATA to you? We aren’t talking your ordinary Sales, Gross Profit or EBITDA chatter. We’re talking about mining dirty data, polishing it and digging out the underlying knowledge! Analyzing data from different perspectives, categorizing the data, summarizing the relationships identified and ultimately, summarizing it into useful information to cut costs and increase revenue — that’s what talking data should mean to you!
Imagine your business is much like an apple tree. Tending to the trees and multiplying the fruit produced is fantastic, but if the fruit is not harvested, eventually, it will spoil and diminish your returns. Many times we are so focused on grabbing that low hanging fruit, we fail to see the bigger picture. Opportunity has been missed!
We’ve spent many years streamlining systems and operations for our clients and the result has been a financial reporting system that is crackerjack – delivering financials instantly throughout the period and then, closing within 2 days of period end – hard to find fault with that process! The low hanging fruit from doing this has been significant – raising EBITDA by upwards of $1,000,000 per year as the focus shifted away from “preparing financials” (which effected everyone in the company) to “using financials” as a way of holding folks accountable – as these folks spent more of their time watching operations (rather than waiting on accounting). All too often, our clients feel this is enough. Time to sit back and enjoy the fruits. Proceed with caution! This is strictly a cost reduction, containment/management approach – it doesn’t lead to any impact on future profits from shaping revenue or changing the way that we do business because it only focuses on costs. We understand our clients have limited resources skilled in Business Analysis so stay tuned, we will discuss this in a completely separate blog.
In every aspect of business, people want to do “their” job and call it a day; punch a clock and head home. They aren’t looking to “Learn it, Live it or Love it”. Most just want to leave it. So, how do we make the data more exciting so they want to love it? Giving them the data is not enough. We want to put the right tools and Business Intelligence (BI) in the right hands at the right time. Using Business Analytics, we believe opportunities will be unearthed. Visualizations, which are easy to understand and manipulate, allow the user to dig deeper into truly understanding what drives the business. CFO Advisors, LLC and CFO Rapid Fire, LLC want to capitalize on the time gained through the streamlined operations and seamless financial reporting by taking your data to the next BI level.
As we near the end of 3rd Quarter 2012, let CFO Advisors, LLC talk DATA to you!