Defining the right measures and reporting on them at the appropriate frequency are fundamental to understanding if a business is on track to deliver both its short term forecasts and longer term business plans and if not identify the key areas where corrective action must be taken.
We have developed and implemented a whole suite of management information for a Building and Maintenance company which enabled each office (profit centre) to know where it was on a weekly and monthly basis. The management information system contained early warning measures that highlighted areas for corrective action before they became a significant issue.
As well as developing reporting and management information systems Purely Financial helps implement effective review processes. In one Construction company Purely Financial introduced cost reviews with budget holders focussing on identification of waste and actions to reduce waste. Costs had been allowed to drift resulting in key contracts becoming unprofitable. As a result of the new information and process key actions were identified to restore profitability.
