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3 reasons to ditch your traditional financial statements!
1. They are historical; they are "after the event";
2. They do not show relationships between revenues and expenses;
3. They do not give you control over revenue and expense management
Traditional financial statements (the Profit and Loss Statement in particular) are historical in nature, and only record chronological past transactions.
Businesses are constantly facing the dilemma of expenses growing faster than revenues. You will thus be facing the embarrassment of eroded bottom line performance.
Sound familiar? How then do you address this losing race of expenses vs revenues?
Your typical response might be to carry out more analysis through your current statements. But the end result will not be very different. You still do not have any degree of control over your revenues and expenses.
3 reasons to use the Ignite Insight LLC solution
1. Dispense with the historical;embrace reporting of behavior of revenues, expenses
2. Make analysis relational - show how revenues and expenses impact each other
3. Adopt the Profit Flow Through approach
Want to know more about How NOT to read a Profit and Loss Statement? Click here
COMING SOON!! Free e-book on Profit Flow Through
Elevating your reporting to a higher level
The Ignite Insight LLC solution, not only in situations of stagnant revenues and increasing costs (resulting in dwindling profits) but also as a regular approach is to recommend analyzing your specific business operation and adopt the Profit Flow Through approach, an analysis tool that puts you in control. It provides you analysis that is forward looking and assists in decision making and course correction.
This and similar other solutions are what Ignite Insight specializes in. We believe that solutions tailored to a problem are the way to produce results that are different from the run of the mill. We do not provide cookie cutter solutions. We do not believe one size fits all.
Ignite Insight LLC is a Consultancy practice that provides services to companies and individuals in:
Key Performance Indicators / Operational Analysis
Process Improvement / Risk Management
Business & Executive Coaching, Training
Team Development concepts
Visually oriented training materials
Multimedia Training materials
Financial Analysis is our forte. We believe Financial Statements should accurately reflect the operation behind their preparation. Without understanding the operation and the processes that bring in the revenues, there is no way of producing effective Profit & Loss Statements or other financial statements.
Make an appointment today for a Free analysis of your Profit & Loss/Other Financial Statements and a recommendation to enhance the bottom line of your business.
Risk Management: It is a fact of life that bottom line enhancement is not only the domain of revenue increases or reduction in expenses. An often forgotten (a costly lapse in memory at that) element is the wastage and losses in the business operation processes themselves. An effective risk management process in place will more than pay for the investment and on a recurring basis.
Ignite Insight LLC also has powerful solutions in the area of Business & Executive Coaching. These are targeted sessions where both individuals as well business groups are led through interactive exchanges. Business coaching relates to topics like becoming a better business manager while executive coaching concentrates on providing leadership skills which will inspire and motivate. Business further addresses specific areas of financial analysis and reporting which will equip business managers with the insights necessary to tackle strategic issues in their respective operations.
Ignite Insight LLC has a unique multimedia approach to training and related material as well as policy manuals in visual format which through use of color and three dimensionality enhance memory and understanding. This is a key practice where group based instruction and insight is provided for targeted results. Policy Manuals are one area where every business tends to resort to staid, boring text based material which nobody in the organization wants to read.
Finally, Ignite Insight LLC can provide thought leadership through passionate, inspirational talks and presentations to business groups and individuals. What is thought leadership? Thought leadership is being in tune with what is expected to be a inspiring leader of today and an effective business manager. Do not take our word for it. Read what our audiences are saying.
Ignite Insight LLC is committed to excellence and solutions whether it is analysis, coaching, training, or thought leadership which differentiate it from other solution providers in the market and all that we ask is give us an opportunity to demonstrate our ability to deliver unique value to you our customers.
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