Working Capital is the lifeblood of any organization.
The business management of finance can often be at odds with growth and sustainability of operations OR it can be complementary, depending on a company’s actual results, approached from different perspectives at different points in time.
There are a wide range of activities and disciplines revolving around the management of money and other valuable assets of the organization. All must be monitored concurrently and continuously against short, medium and long-term objectives and business plans. Financial measurement and control becomes meaningless if a strategy is not defined and implemented based on objectives consistent with the current state of the company and its upcoming projects.
Proper forecasting of and the achievement of anticipated acceptable return on investment keeps your bankers, insurers and customers happy while fueling the organization’s future growth. OFG can work with you to utilize processes, analyze your strategy and engage the discipline and leadership to ensure you can identify any change needed and initiate processes within budget, scope, and schedule.
OFG can work with you to analyze your operation best practices, and engage the discipline and leadership to ensure you can identify any change needed and initiate processes within budget, scope, and schedule.
Cash Management and Forecasting
Companies often get involved in focusing on operational needs and leave cash collection and accounting to the back-office folks. The key to successful growth and world-class service delivery comes from applying precious resources adequately and appropriately under ever-changing circumstances. Cash flow forecasting is the key to liquidity and the ability to raise more funds. How often management should forecast cash flow is dependent on the financial security of the business. OFG can assist business owners with ensuring they are achieving maximum cash flow and liquidity to meet challenges and investments going forward without worry.
P&L Analysis and Cost-Containment
Accurate and timely information is power. Smaller privately held companies may not need the level of sophistication in reporting that their larger publicly-held counterparts do, but relying on stale or partially correct information is heading down a path to ruin. OFG can help a business owner understand how profitable each individual account is, where expense items can be contained and reduced and how to grow efficiently as possible by redirecting resources rather than just expending more.
Purchasing Practices Review
It’s easy to neglect efficient purchasing in your business. You focus on cost, quality and delivery when buying goods and services, but you don’t always “plan” purchases as well as you could. As a result, you may spend more money than you need to. OFG can help companies by reviewing their existing purchases and set up policies and pre-negotiated vendor programs that will keep costs under control. As a result, your prices remain at competitive levels and profitability increases.
Workers Comp Claims Review
It’s estimated that 65% of workers compensation claims contain errors and up to 95% of all claims are overpaid or incorrectly settled by the insurance company. Workers compensation claims directly affect all experience rated workers comp policies and your premiums. Insurers offer programs to help business owners but they have a staggering number of clients they offer this to and limited time and resources to help you. OFG can review your programs, and advise you on how to institute best practices to reduce your number of incidents as well as ensure timely and accurate handling of your cases by the case managers.
Fleet Management
Fleet management can include a range of functions, such as vehicle financing, vehicle maintenance, vehicle telematics (tracking and diagnostics), driver management, speed management, fuel management and health and safety management. Whether you have one or two vehicles or hundreds, OFG can assist you to measure and manage your fleet allowing you to remove or minimize the risks associated with vehicle investment and safety, while improving efficiency, productivity and reducing your overall transportation and staff costs.