Time management and productivity analysis is used to improve operations and is included in all employee performance reviews. Technology changes in production and office equipment are systematically reviewed. Supplier relationships are established, and are evaluated for price and service on a periodic basis. The professional responsible for recordkeeping and financial statements is knowledgeable about sources of financing. Financial statements are prepared in a timely manner and are used to diagnose positive and negative conditions affecting operation.
All information required for business valuation is retained and updated.
Established cash management techniques allow effective monitoring of accounts receivable, customer payment and deposits, collections, etc. Financial stability is established before credit is extended. Cash not required for operations invested. Fixed and variable costs are reviewed and updated periodically.