The document discusses four pillars for creating customer relationships that generate revenue: collaboration, outsourcing, recycling relationships rather than ending them, and educating internal staff. It emphasizes treating customers as partners rather than debtors and using collection efforts to preserve long-term relationships and repeat business. Metrics should focus on outcomes like sales, renewals, and satisfaction rather than just payment speed. Outsourcing non-core collection functions can improve performance.
An overview of the challenges and options business owners in the graphic arts space are facing with the transformation taking place in today's industry.
With growth slowing and cash getting tighter, now is the time to reduce the working capital tied up in receivables.
In the first of two China papers we focus on reducing trading risk and freeing up cash from receivables. In the second, we suggest that uncertainty can be exploited to grow market share and profitability.
Slide share Institute for Quality Assurance London - QualityWorld Customer ...Dr. Ted Marra
Another classic article on Customer Focus - while a number of approaches have evolved over the years, the foundation elements remain unchanged. Again, many organisations 'talk a good game' when it comes customers, customer focus or customer centricity. But as we all know, 'talk is cheap' and 'talk' alone doesn't get the job done. One needs to understand the true requirements for being customer focused. One needs a 'strategic customer relationship management' system as discussed in other of my SlideShare uploads. Hopefully you will find that this article helps to continue to provide a 'directionally correct' viewpoint! Enjoy!
An overview of the challenges and options business owners in the graphic arts space are facing with the transformation taking place in today's industry.
With growth slowing and cash getting tighter, now is the time to reduce the working capital tied up in receivables.
In the first of two China papers we focus on reducing trading risk and freeing up cash from receivables. In the second, we suggest that uncertainty can be exploited to grow market share and profitability.
Slide share Institute for Quality Assurance London - QualityWorld Customer ...Dr. Ted Marra
Another classic article on Customer Focus - while a number of approaches have evolved over the years, the foundation elements remain unchanged. Again, many organisations 'talk a good game' when it comes customers, customer focus or customer centricity. But as we all know, 'talk is cheap' and 'talk' alone doesn't get the job done. One needs to understand the true requirements for being customer focused. One needs a 'strategic customer relationship management' system as discussed in other of my SlideShare uploads. Hopefully you will find that this article helps to continue to provide a 'directionally correct' viewpoint! Enjoy!
This white paper discusses why small businesses are experiencing a decline in lead volume and quality, and acts as a step-by-step guide for lead generation in "the new normal".
Bob Pearson • Transamerica Financial Advisors Inc.
- Experts need experts: 10 questions to ask third-party money managers by Kellye Whitney
- Do record margins pose market threat?
- “Rule of 240” compounding by Ron Rowland
- Hot-button topics drive seminar attendance (Matthew Gaude, FSC Securities)
SME customers in particular often have needs beyond the pure provision of financial services, and these needs represent an opportunity to build brand recognition and customer loyalty, as well as improving the relative credit performance of our SME portfolio. This presentation focuses on developing non-financial or Enterprise Development Services (EDS) to supplement our banking proposition to SME customers.
Driving Key Account Growth: Planning and Execution to Access the White SpaceRichardson
Decreasing customer loyalty, higher expectations, and constant competitive threats are making forecasted business from your best customers anything but a certainty. The presentation will cover the following:
1. The guiding principles for excellence in strategic account planning
2. Quantitative and qualitative factors to consider in choosing accounts for strategic account planning
3. How to align to the customer’s strategy
Account plan execution
As a B2B software investor, we like to support the startup community with knowledge and content. We hosted a Q&A on fundraising & cash planning amidst Covid19.
Is Doing a Business Plan Worth the Time?ventureneer
When starting a small business, developing a business plan can save you time and aggravation. Learn what type of plan is right for your company and how to write.
Employee Rewards Programs: The Formula for Successful RewardsTom Daly
Matt Lundy is co-owner of Rewarding Events & Incentives (REI), a full service incentive agency specializing in the creation and fulfillment of programs to motivate and reward employees, customers and distribution channels. for achieving specific goals. Rewarding Events & Incentives was recently announced as one of nine SBA award winners in Louisiana for 2009 .
A graduate of St. John’s University in NY, Mr. Lundy is very active in the local business community, serving on the Boards of both the Jefferson and River Region Chambers of Commerce, and is a member of HRMA New Orleans, the Louisiana Technology Council (LTC), the St. Charles Business Association and Entrepreneur’s Organization (EO).
The presentation will cover how you build a budget, common mistakes and how to avoid them, selecting the right reward option for your program and more.
This white paper discusses why small businesses are experiencing a decline in lead volume and quality, and acts as a step-by-step guide for lead generation in "the new normal".
Bob Pearson • Transamerica Financial Advisors Inc.
- Experts need experts: 10 questions to ask third-party money managers by Kellye Whitney
- Do record margins pose market threat?
- “Rule of 240” compounding by Ron Rowland
- Hot-button topics drive seminar attendance (Matthew Gaude, FSC Securities)
SME customers in particular often have needs beyond the pure provision of financial services, and these needs represent an opportunity to build brand recognition and customer loyalty, as well as improving the relative credit performance of our SME portfolio. This presentation focuses on developing non-financial or Enterprise Development Services (EDS) to supplement our banking proposition to SME customers.
Driving Key Account Growth: Planning and Execution to Access the White SpaceRichardson
Decreasing customer loyalty, higher expectations, and constant competitive threats are making forecasted business from your best customers anything but a certainty. The presentation will cover the following:
1. The guiding principles for excellence in strategic account planning
2. Quantitative and qualitative factors to consider in choosing accounts for strategic account planning
3. How to align to the customer’s strategy
Account plan execution
As a B2B software investor, we like to support the startup community with knowledge and content. We hosted a Q&A on fundraising & cash planning amidst Covid19.
Is Doing a Business Plan Worth the Time?ventureneer
When starting a small business, developing a business plan can save you time and aggravation. Learn what type of plan is right for your company and how to write.
Employee Rewards Programs: The Formula for Successful RewardsTom Daly
Matt Lundy is co-owner of Rewarding Events & Incentives (REI), a full service incentive agency specializing in the creation and fulfillment of programs to motivate and reward employees, customers and distribution channels. for achieving specific goals. Rewarding Events & Incentives was recently announced as one of nine SBA award winners in Louisiana for 2009 .
A graduate of St. John’s University in NY, Mr. Lundy is very active in the local business community, serving on the Boards of both the Jefferson and River Region Chambers of Commerce, and is a member of HRMA New Orleans, the Louisiana Technology Council (LTC), the St. Charles Business Association and Entrepreneur’s Organization (EO).
The presentation will cover how you build a budget, common mistakes and how to avoid them, selecting the right reward option for your program and more.
How to Make a Business Case for #Socialmedia Gain Social Media ROI with Crims...Dr. Natalie Petouhoff
Often times creating a business case for any initiative - whether it is a social media initiative or a traditional business endeavor can be difficult. This slide deck walks you through the steps to make a business case in 4 steps so you can get the funding you need when you present your idea to your senior leadership team.
Presentation based on Ben Holmes, Index Ventures Ventures http://www.slideshare.net/benholmes/venture-capital-an-entrepreneurs-manual
Created for EnterpriseTO
FinTech & InsureTech - Corporate Lending: Company presentation by Sebastian Nienaber, Founder & CEO of ConsciousGrowth at the NOAH Conference London 2019, 30-31 October, Old Billingsgate.
In business today, companies are ceding profitability to their customers. Their focus is in other areas and they are not concentrating on their bottom line. Realigning company goals around overall profitability as opposed to individual goals will result in significant improvements to the bottom line and the long term health of the business.
Presented by Richard Brooks at the ALC conference in Las Vegas NV. Explores the realtionship/importance of strategic sales management, marketing and key account management. Moves on to present models around the life-time value of clients to an organisation and how this changes as firms develop.
You'll learn:
- How to identify which numbers to track and monitor.
- How to build a basic financial model.
- How to articulate your financial story.
One of the main reasons startups fail is they run out of capital. Learn how to master your startup's financials and stay in the game!
How Strategic Social Customer Service Generates and Preserves Revenue Kathy Herrmann
Most organizations measure the value of customer service as a cost center. Few take the position of seeing customer service as the provider of customer satisfaction, loyalty and word of mouth.
To view customer service as a strategic asset requires that the organization see customer service as a revenue generator and a preserver of revenue. Strategic customer service then provides a new financial view of service and the investments in the end-to-end customer experience.
In this talk, we’ll cover strategic social customer service, including:
* Impact of social media on customer problem prevention.
* Why customer service is PR and PR is customer service.
* Large, blue chip company case study for social customer service ROI.
Startup Economics, Finance and Accounting 101Dan Nelson
A quick look into some of the necessary finance, accounting and economic needs for early stage startups. It is a short survey, and there is more to come on this really interesting space.
For more information, please contact Dan@techbrainstorm.com
Customer experience improvement can—and does— drive bottom-line results. So how can we prove that making customers happier can make you and your shareholders happier too?
1. Creating Relationships that Pay Moving Your Bill to the Top of the Stack Presented by: Jerry Ashton CFO advisors, inc. June 20, 2009 IQPC London June 2009
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16. Receivable Realities How Money Due Depreciates an average of 10% in collectability lost per month! (U.S. Dep’t of Commerce) Aging cycle over a year period $ Dollars
17. Accounts Receivable Portfolio Average Number of Active Accounts 5,500 4,000 – CFO Advisors 1,500 - Client Average Accounts Receivable $450,000,000 $XX,000,000 – CFO Advisors $XXX,000,000 - Client 4000 Accounts Outsource Company 72.7% 27.3% 1500 Accounts client Client 87.8% 12.2% Outsource
18. Results Year “X” Outsourcing Year-End Goal = 25% Reduction in Past Due Percentage From 39.8% to 29.8% Actual = 24.4% Reduction in Past Due Percentage From 39.8% to 30.1% Outsource Accounts Percent of $$ Past Due
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29. Thank You Jerry Ashton President (212) 982-2152 CFO advisors , inc www.cfoadvisors.com
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Editor's Notes
Welcome Background on Jerry and Dexter Get around the room intro’s
is needed to establish a baseline How many of you are doing it now System generated or Manual Same reporting measurements for years? Your industry is good, but other industries are ok to. It can depend on whether your selling Main Frames or servicing Credit cards So your in the bottom Quartile – remember it’s a frame of reference – it does not make you look bad, it shows you where you can improve Small benefit but a quick hit – gets the team motivated The project might be too difficult for your group, technology, budget to do
You're obviously thinking about it since you’re attending this conference You might be told to do it soon - Your boss might be telling you to do it when you return from New Orleans You can do it all or in pieces
The next few slides will be centered around the concept of Outsourcing It’s new to some, we think we pioneered… and invented….. Jerry to do
What’s Broken, What needs to be fixed Where do you stand in and outside your industry Hackett and others What are you doing know, What can you implement in the short run, What can’t you implement even if you had a majic wand Why not outsource these functions – don’t want to let go, fear of mistakes - You probably outsource some now – bank lock box You cant make any chages until you measure ansd establish a baseline You can use the metrics to show accomplishments and identify the next area of improvement Monitor your outsource provider Don’t keep measuring the same thing – move on
Partnering means giving up on trying to go it alone. Who would want to – your company couldn’t possibly have all the talent and resources you need to do your job. OUTSOURCE. And, be willing to share your company’s knowledge and talent with your partners. Win-Win!
Any argument here? If an outsource firm is going to hit high marks, it has to be in respect of the tough job that has already been put in by your client’s staff. You are here to give, not to take. The forklift driver gets better training.
How many outsource one function Now? How many multiple functions? How many planning How many fearful? Fearful of What? What has changed over the last 10 years……… Does this function contribute to the overall company mission Do we have or can we hire the right people Are our costs too high (in comparison to other companies Do we want to invest in new Software and technology Do collection agencies give us the right level of customer service and return?
How many outsource one function Now? How many multiple functions? How many planning How many fearful? Fearful of What? What has changed over the last 10 years……… Does this function contribute to the overall company mission Do we have or can we hire the right people Are our costs too high (in comparison to other companies Do we want to invest in new Software and technology Do collection agencies give us the right level of customer service and return?
One form of education – the reality of accounts receivable and losses that occur inexorably, month after month. Any client holding onto an account after 90 days had better have some very good reasons. Other than, “I’ll do it myself,” that is.
A sample CFO account, showing our work for them in the year 2000. They outsourced 70% of their accounts to our staff. As these were “small balance” accounts (you are kidding me, of course), this freed their staff up to work the larger and more complicated cases. We didn’t really replace personnel, as much as free them up.
The bottom line is always the bottom line – did or did we not help our client. Considering that our goal was to reduce their outstanding A/R under our control from 39.8 days by 25% -- or a reduction to 29.8%. The graph speaks for itself. From January and a high of 39.8 days, to December with a DSO of 30.1 days, it was obvious CFO was capable of hitting client-set goals. I regret to say…we did miss the goal by .02% Gratefully, the client allowed for this aberration.
The CFO Advisors guideline for its collection intervention/customer service specialists is to “get the money, and keep the customer.” Seldom is a past due account there because of a customer’s desire to steal from our client. More often than not, there is some area of dissatisfaction that needs to be discovered and resolved. Amazingly, when a relationship is back on track – so are the payments! Sales Reps? The source of the problem so much of the time – and logically the source of solutions as well. Education, remember?
Any argument here? If an outsource firm is going to hit high marks, it has to be in respect of the tough job that has already been put in by your client’s staff. You are here to give, not to take. The forklift driver gets better training.
My appreciation to the Thomson Financial people for inviting me to attend and present at this audience, and to you attendees for taking time to see what is “outside the box.”