It’s easy to get into a rut. Its also easy to use the well-known saying “If its isn’t broken then don’t fix it” as an excuse to carry on regardless and not look to make improvements.
Ray’s family business had been established for many years and had grown considerably from the small fish bar established by his father in 1967 to two successful restaurants on Aberavon beachfront. The growth brought new challenges including a huge increase in the volume of transactions being processed by the accounting system.
Ray turned to PML, initially to prepare the company accounts and payroll. It was immediately apparent that the bookkeeping system needed a major overhaul.
We gave the family a complete set of tools to speed up the process, free up time to spend managing the business and enable us to produce some much-needed management information on an ongoing basis. In a very short period, the new system was up and running and the reporting had identified some matters that needed immediate attention.
Now essential ratios in each individual area of the businesses are constantly monitored to ensure that the gross margin and the relationship of staff costs to sales are within the targets set by management. Flexible reporting allows us to zoom in on costs which slip outside of the acceptable tolerance.
We have encountered similar problems in many small businesses…