Why aren’t we making money?
Ask . . . What activities are critical to the profitability of this business and how are we performing in these areas?
How can we get our employees to be more productive?
Ask . . . Have we given our employees the tools, training, and information they need to be productive?
How come things never get done right around here?
Ask . . . Is this a recurring problem? Is it a people or process issue?
Why do they always come to me for the answers?
Ask . . . How well are our systems/procedures documented? Do we reward initiative or punish it? Do we act like the "Head Buffalo" or do we let our people lead?
Performance Measurement can close the gap between the questions that keep you up at night and the answers you need to manage your business more effectively. When applied properly, a performance measurement system can take the guesswork and arbitrary decision-making out of managing your business. Armed with better information, you’ll be in a position to make better decisions on a real-time basis.
By its very nature, a performance measurement system provides real-time feedback about key activities that are critical to the company and serve as a predictor of future outcomes. Simply put, performance measures serve as indicators of progress toward specific goals that are critical to the success of your company. Ultimately, performance measures provide better quality information for decision making.
For questions like . . .
Which customers should we be targeting?
What is the most efficient way to reach our ideal customer?
What other products or services could/should we be offering?
Which product/service lines should we be eliminating?
Is there a better way?
and many more.
Performance Measurement is not new or the latest pop fad. It is a fundamental approach to business management. Most companies already manage their day-to-day efforts with some performance measurement data. However, in many cases, their measures are not balanced and/or linked to company goals, key strategies, or compensation.
Depending upon who you talk to you’ll find some commonly used, interchangeable terms relating to performance measurement:
Key Performance Indicators
Critical Performance Indicators
Critical Success Factors
Performance Measurement is often broken down into further distinctions, such as:
Outputs/Results vs. Input
Process information, quality assessment, efficiency or productivity information
Leading vs. Lagging
Value-added vs. Non-value added
Visible vs. Invisible Internal vs. External
Short-term vs. Long-term
Soft vs. Hard
Financial vs. Non-financial
People vs. Process
Global vs. Local
Regardless of the terminology used, proponents of performance measurement tend to share the same common philosophies. Performance Measurement systems should be: Outputs/Results vs. Input.
The bottom line is . . . most companies are data rich and information poor. Our job is to help you sort through the mountain of data to identify measures that are critical to your company. Call us today, and setup a complimentary consultation to discuss how performance measures can help you in your business.
"A very Uncommon CPA firm. Brent Ross and his team are extremely helpful and not only care about counting beans, they care about teaching their clients how to plant and grow the beans! They have unique ways of finding... read more
"I have known Brent and his family for over thirty years and have always had the highest respect for him as a friend, as a Christian, and as our accounting and business consulting partner..." read more
"Brent and his staff have provided excellent services in a timely manner for many years. The Firm is one of knowledge, experience, and integrity." read more
"I have retained the services of Brent and his team for many years. I have found them to be honest, reliable, on top of current law change, and communicate well with me. They have always..." read more
"John and Brent were extremely helpful throughout the start-up and growth phases of the business. They provided timely, clear and useful advice regarding appropriate accounting and tax issues. They took the initiative to..." read more
"Brent Ross and his associates have one of the top CPA firms in Jacksonville. They take the time to understand your business so you can maximize your business. Moreover they bring..." read more
"We had a complicated return of 2 states and 3 jobs and he made the process a breeze. Brent and his staff worked together to help make sure we were ready by our target date..." read more
"Brent is a professional at heart that truly tries to understand the issues you face. He then tries to understand how he can help you, not only from an accounting/tax benefit, but how to..." read more
"Brent has provided outstanding accounting services for me personally and for some small corporations. His ability to track the details from year to year is amazing..." read more
"Brent and his firm have always been accessible, dependable, timely and creative when needed. His insight regarding a company's operations goes beyond crunching numbers..." read more
"Brent Ross is a powerful business coach. His coaching skill and financial expertise are the perfect combination for any business owner..." read more
"Over many years, Brent's firm has represented several of my clients (Disclosure-I am Brent's brother and a practicing attorney), and those clients and myself have found the personnel in Brent's firm to be very knowledgeable..." read more
"I have know Brent for a while now. He does more than just your taxes. He is a true advisor that help business owners unlock more profit in their operations..." read more
"Brent and his team don’t just "crunch numbers”. He provides a variety of services to help their clients improve their businesses. Brent’s cost segregation studies can generate an immediate increase..." read more
"It is without a single reservation that I recommend Brent Ross. I have worked with Brent and the Harrison Assessments organization for a while now ..." read more
Real estate investors have reason to celebrate in the upcoming tax season: The Tax Cuts and Jobs Act significantly expanded the first-year tax breaks for bonus depreciation and Section 179 deductions. But Congress may need to fix one intended change before it can benefit investors. And there are some pitfalls to consider before taking advantage of first-year depreciation breaks for real estate.
Historically, companies that wanted their employees to be protected with health coverage, but didn't want the hassle of having a company health plan, could simply give employees an amount of money sufficient to reimburse them for the cost of buying that coverage or some portion of it. As long as the individuals provided evidence that they used those funds for that purpose, the dollars were excludable from taxable income for the employees.