"Cash Management" Posts
GPS Reviews: A Clear Vision & Pathway To Profitability
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Situation
A family owned business for over 50 years in the automotive industry utilized GPS to provide “a clear vision and pathway to profitability.” The company had been struggling with serious financial and operational issues.
Process
“My wife Angie and I were filled with anxiety and uncertainty as to where this journey would take us,” due to the troubled state of the business. When the GPS analyst and consultant arrived, “we began diagramming ‘where we are’ and ‘where we need to be.’ This brainstorming session, which I didn’t fully understand in the beginning, would soon become our recipe for success …
GPS Reviews: Shaking Up The Status Quo
Situation
The owners of a commercial flooring company were dealing with a low margin, which resulted in cash flow issues. “Prior to GPS, the cash flow volatility created great stress for me and Joe. We were resigned to the status quo and we did not foresee our company growing, beyond its size, at that time.”
Process
“Upon arriving,” the GPS consultant “evaluated our estimating and accounting processes. The first discovery was that we did not understand the difference between mark-up and margin. He also determined that we had no budget forecasting in place.”
Numerous new procedures, protocols and metrics were …
