Owner faced rapid and expensive changes in technology and possible need to convert platforms. Did not know if she wanted to make the investment or sell the company
Defined her alternatives and their costs; defined the alternatives of what after-tax net sale price she would need and what she would do after the sale.
Defined what change would cost and the time it would take; reviewed impact on owner, staff, and customers; defined owners needs to support her lifestyle; created a 5 year plan to grow her company, monitor her results, and review her options annually.
Owner managed company without an annual budget, did not know that he was half as profitable and growing less quickly than his peers
Defined target customer for business; matched products and pricing to customer needs and company staff to best practices; created a budget and monthly monitoring
Company increased margins, profits, and cash flows
Service Bureau licensed third party software, but had lost confidence that the software provider was making enough investment to keep their software competitive
Reviewed the current software; developed a full RFP with the client’s managers; defined an implementation strategy; interviewed candidates including the current provider; monitored selection and agreements; monitored implementation
Client licensed current, fully functional software from a committed provider; company team completed full implementation and customer conversion in 1 year.
Company software allowed for customization from reports to pricing; company had no controls and therefore had hundreds of undocumented reports making future version changes difficult; company was running over 40 pricing tables.
Hired new IT manager to define and control report creation; put company on a plan to document selected reports and phase out others; added security reviews and tests
Pricing tables reduced, but still a work in process; documentation improving but many legacy reports still undocumented and put at risk customer service at next major system version release
Long term owner thought he wanted to sell, but had never done a deal before; wanted to separate “rumors” from facts to get best results for his family, staff, and customers
Defined the desired outcome and tested the owners’ conviction; built and qualified the team of advisors; defined, gathered, and controlled required data and documentation; reviewed company operations, bank accounts, financial reports; qualified buyer candidates and rated their ability to perform; monitored transaction
Owner was prepared for the process, and understood the trade-offs which might occur; qualified bidders were found; timelines were met; problems were resolved; deal was completed