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Cash flow is the lifeblood of any integration business, and under-billing long-term projects is one of the fastest ways to drain it. Accurate, real-time data is the only way to avoid cash crunches that can threaten your ability to complete jobs or scale profitably.
After 12 years working in the industry, in the sales, delivery and support side of the business, I have seen too many examples of value added resellers and manufacturers mismanaging customer expectations in order to close a sale. And I’m not sure if this is worse, but often times the mismanagement isn’t done on purpose but due to ignorance on the part of what constitutes a successful implementation.
The business of improving your business is serious business. How many times have you or someone on your team tinkered with a process and had it result in less than desired results? Perhaps it wasn’t adopted, or only partially adopted by a few on the team. Or worse, it had adverse results on other areas of the business. In today’s world of commerce you need to be nimble and constantly thinking about how you can improve; either making things more efficient or creating a better customer experience. Change is a constant, so read on if you would like to learn some tips on how to embrace it well.
There’s a vast echoing gap between the mindset of accounting and project management in most businesses. It has a lot to do with time:
In today’s video, Tofiq Indawala, Director of Product Management, is joined by Brad Malone, from Navigate Management Consulting to discuss the whole concept of a work breakdown structure, and how that impacts project management.
A volatile market and a troubled economy are accelerating the need for small to medium-sized companies to contain and reduce costs. As a company reaches the tipping point in its growth, its effort to reduce costs and sustain or increase revenue and profits becomes contingent on its ability to maintain the level of visibility management enjoyed when it was a smaller organization. This challenge is exacerbated by growth, which adds complexity to the business. Systems that once supported the smaller organization begin to fail at an increasing rate, a phenomenon often described as ‘imploding under their own weight.’ Even a fast-growing company can easily go out of business if its revenues are increasing at a healthy rate but its infrastructure cannot keep up.
