We firm­ly believe in the fol­low­ing state­ment:

“What you can mea­sure you can man­age!”

It is absolute­ly vital for every busi­ness to under­stand what the key num­bers are that are crit­i­cal to that par­tic­u­lar busi­ness.

Of course there are the usu­al finan­cial indi­ca­tors which every busi­ness should mon­i­tor on a reg­u­lar basis. These include:

• Turnover
• Gross Prof­it
• Net Prof­it
• Cash/bank
• Stock turnover
• Debtor days

These are all lag indi­ca­tors i.e. they are the result of some oth­er dri­vers which should also be mea­sured. These are the things which most busi­ness own­ers find eas­i­er to influ­ence. There are hun­dreds of these items but you should only try to mea­sure and man­age a few that are crit­i­cal to your busi­ness. Some exam­ples would be:

• How many cus­tomers do I have?
• How often do they buy from me?
• What is the aver­age val­ue of each trans­ac­tion?
• How loy­al are my cus­tomers?
• How hap­py are my team (employ­ees)?
• How many refer­rals am I receiv­ing?

The most impor­tant part of our com­pli­ance ser­vices is the prepa­ra­tion of peri­od­ic man­age­ment accounts cou­pled with help­ing you to iden­ti­fy, mea­sure and man­age the Key Per­for­mance Indi­ca­tors which are not sim­ply gen­er­at­ed from your man­age­ment accounts. Mon­i­tor­ing and con­trol­ling the per­for­mance of your busi­ness is of para­mount impor­tance and reg­u­lar man­age­ment infor­ma­tion is vital to the con­tin­ued suc­cess of your busi­ness. We can either car­ry out this func­tion for you or help you set-up inter­nal sys­tems to gen­er­ate the infor­ma­tion.

We will also take this ser­vice one step fur­ther by inter­pret­ing these fig­ures for you and mak­ing sug­ges­tions to help you improve your prof­its or to help your busi­ness grow.

To find out more please call 0141 332 6331 or email mail@russell-russell.co.uk