CBS Reviews: A Journey and A Life Experience

Situation

An electrical equipment supplier contracted with Corporate Business Solutions to resolve issues due to rapid growth.

For twenty years the firm had operated as a manufacturer’s representative, but approximately five years ago, they were forced to change their business model in order to survive poor economic conditions in their marketplace.

While this new business model brought increased sales and opportunities, their operational systems and processes “seemed held together by duct tape and paper clips.  Tribal knowledge dictated our work flow.  The embarrassing part, our financials were managed like a household budget, not a thriving business.  I had to personally sign for a line of credit…”

Process

Reviewing the client’s business, the CBS consultant, “realigned the business into three distinct divisions—brokerage, contracts and buy/resell.  The financials had to be completely restructured.  To facilitate this, the decision was made to migrate sales, operations and finance to QuickBooks.”  The software also offered field tools which their CBS consultant utilized to set up a data base for maintaining contract covered assets.  Additionally, he worked to develop the management team’s leadership and managerial skill set, including training in strategic planning techniques.

Result

“This has been a journey and a life experience.  We look forward to deploying our new found skills.  I am especially eager to work with our new cash flow management and break-even tools.  I plan to head back to the bank and have our line of credit solely determined by the company’s performance.”   Laura, President and CEO