Case Studies
Getting
Control
A
Specialist IT/Software Company based in South Yorkshire .
Innovative
and technically excellent MDO. Super software products for specialist
market.
First
met in February 2002. Initial findings highlighted some major
problems.
o
Most recent accounts were 18 months old!
o
No Management Accounts
o
Measured performance by size of overdraft.
o
Low morale amongst workforce.
o
Development targets not met.
o
Poor Customer Service attitude amongst employees.
o
No Employment Policy.
o
No Contracts of Employment for employees.
o
No Terms and Conditions of Trade.
o
No credit management policy.
o
Sold software but had no User Licence agreements to prevent pirating.
o
No Marketing Plan or Business Plan to give them direction.
Action
was needed!
Mel
Lockett of MCCR
& Associates has worked with the Company through
our Business Support Scheme since March 2002, providing guidance
and mentoring on a retained basis.During
that time major changes have been introduced to the way the company
is managed whilst at the same time releasing the MDO to do more
Selling of existing products and devote more time to the development
of the next generation of products.
Achievements
o
Management Accounts now available for discussion within a few days
of the end of the month.
o
Regular monthly Board Meetings chaired by Mel Lockett
o
Turnover increased by 14%
o
Profitability up from a loss of (£9k) to Profit of £30k.
o
Introduction of comprehensive Employment Manual including Contracts
of Employment, Grievance procedures, Disciplinary procedures, Health
and Safety procedures etc.,
o
Introduction of Terms and Conditions of Sale .
o
Introduction of a Credit Management policy.
0
Debtor Book under control
o
Introduction of User License Agreement for Software products.
o
Development of Marketing Plan.
o
Obtained Grants for the company for trade exhibition attendance
(50%) and a market feasibility study for new product (70%).
o
New product almost ready for launch.
o
Introduction of Employee Appraisal system.
o
Change of staff to higher quality better motivated personnel.
Quote
from the MDO. “I feel that we are now controlling the business
rather than the business controlling us.”
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