Contract Renewals Draining Resources
Problem: Biz Dev team treats every contract renewal situation like a fire drill, involving senior management unnecessarily and using excessive resources because they aren't sure how successful their own efforts will be.
Solution: Analyze recent renewal situations involving both retained and lost clients to determine key drivers, including product usage patterns and client relationships with other divisions in the company. Design a statistical model that incorporates those key drivers and analyzes the client's probability of renewal, and create appropriate action plans based on tangible risk factors.
Result: Enabled senior management to realistically and proactively assess client renewal risks and then allocate appropriate resources. Reduced year over year client attrition by two-thirds!
Resolving Bookkeeping Backlog
Problem: Client's designated accounting / finance resource not completing work, allowing backlog of 9 months to build. Business owner hand-cuffed by not getting sufficient managerial or financial accounting data to operate the business and generate required tax reports for investors.
Solution: Engage part-time controller. Review and update full year's P&L transactions, reconcile all balance sheet accounts and bank statements.
Result: Accurate year-end Income Statement and Balance Sheet produced. Worked with client's CPA firm to generate necessary investor reports.