Every business owner knows that cash is the life bone of your organization. Without it you can’t pay suppliers, employees, CRA and most importantly yourself. How often have you woken up in the middle of the night worrying about the next pay run or that large HST payment due to CRA at the end of the month?
What would the effect of collecting receivables a week or day earlier mean for your business? Our cash flow program can help you to determine exactly what this would do for your business.
Have you ever wondered how you are doing versus your competition? We have the tools to help you determine this. We can show you how your key performance indicators measure up against your specific industry.
Wait, what is a “key performance indicator” you ask? Key performance indicators (KPI’s) help business owners gauge the effectiveness of their business. We use these with you to determine if you are on target with your goals.
Some of the KPI’s we examine are new revenue generation, accounts receivable collection time, cash to payables ratio, profit ratios and many others tailored to your individual business. The examination of KPI’s allows us to educate our clients so we can have more meaningful conversations; beyond this is profit for the year and this is your tax bill. As we examine the KPI’s together we start to get a clear picture of the strengths of your business as well as what areas are holding you back. This allows us to help you plan for future large purchases like that building down the road that would be the perfect place to operate from, or that piece of equipment that would allow you to increase revenue and efficiencies.
Knowing that you will have the ability to make these types of purchases while meeting your payroll obligations, paying suppliers and CRA on time all while enjoying a good night’s sleep is the sign of the right relationship with your business advisor. After all it’s about you!