Our clients typically ask us one simple question – “Are we performing at our best?” We answer this question with a traditional saying – “One can always improve”. We help our clients look at their business in more detail; financially rather than holistically. Results driven, we examine key metrics that drive the business.
Determining Metrics to Determine Success
Our clients see overall financial performance improvement when they hire BOSS. Performance is measured by establishing and measuring key metrics. Clients may have multiple means of measuring performance. For instance, some look at performance measured by net profit, others, stock value, and other sales growth. We help our clients identify the metrics that are important and key to their business success. We go even further and establish reasonable and acceptable ranges for each metric and more importantly – how to get there.
Key Metric Categories
- Industry metrics
- Capital management metrics
- Operational efficiencies
- Debt and leverage relationships
- Profit generations thresholds
- Human resource metrics
- Selling, general & administrative cost analysis
- Procurement metrics
We approach performance systematically and with an open, long-term horizon. We take the following steps to analyze the current metrics and then customize our approach to the specific needs of each client.
We spend time analyzing the current and past performance of the business by gathering vast amounts of historical data. Then, we look to understand the current metrics the company uses and the performance around those metrics. Based on the results of the data and analysis, we highlight meaningful trends, extrapolate visible relationships and filter the data into a more manageable set of statistics.
We work with the leadership team to identify the most important metrics that represents success. In some cases a whole new set of metrics are developed and measured. In others, we add to or refine the current metrics. We help leadership define goals and set ranges of acceptable performance for those metrics. Plus, we establish necessary reports, graphs or indicator tools that track and report those metrics.
Once the metrics are defined and goals established, we work with leadership to look at the drivers that affect the metrics. We ensure and confirm that those processes truly drive the needed results. If those processes are functioning, then we look to strengthen them. If they are not, we recommend changes or help create new processes and work with the management team to implement those processes.