final week 8 capstone presentation (1)

Sifat Siddique, Siva Sompali, Phillis Pope, Joshua Roundtree, Denise Smoke

TITAN INDUSTRIES

IntroductionFounded in 1972Headquartered in Syracuse, NY$170 million companyPackaging supply for Food, Medical & Agriculture

Employs 216

Agenda Accounts & Finance

Financial challenges and solutions Marketing

Enhancing business IT Infrastructure

Establish new database system Human Resources

Train employees to be efficient in using the new database. Project Management

Keep the project under schedule and budget.

Accounting & Finance

Accounting

Problem Solution• Net Loss of $1.8

million.• High Account

Receivables of $2.6 million

• Reduce account receivables through

E-Invoicing• Avoid paying

suppliers for 30 days.

• Follow Verizon Plan.

E-Invoicing Strategy to Reduce Account Receivables

Week 2: Auto generatedfollow up schedule

Week 1: Auto generated payment reminder

Week 3: Auto generated final notice Week 4: Email filling of

notice

Additional Strategies to Reduce Account Receivables

Charge 15% on late fees. Run credit report check on companies before doing business.

Also ask for credit reports on current businesses.

Tighter credit policy.

Finance

Problem Solutions

• Help IT finance EIS project.

• Help the company invest in another company.

• Retrieve money from tax on $875,000 already written off.

• Collect money through AR.

Finance

Tax Account Receivables

Based on hypothetical 40% tax rate, amount retrievable is $525,000

Studies show that statistically by the ‘aging method’ 8% of account receivables during first 2 years are uncollectible. Thus, 96% is collectible, leading to a 2.46 million

Long-term Investment Strategy via Due Diligence

MARKETING

Marketing Target: INCREASE SALES

• Build Company Image through:• Website• Social Media• Marketing Campaigns

• Hire a Marketing Strategist to:• Develop Marketing Schemes• Tackle Future Market• Train Customer Service to

respond on EIS

CRM Model Careful planning & Project champions

throughout the companyAn incremental project rollout– users Analysis/Testing (UAT)Effective end-user trainingEmploy continuous improvement. Plan to continue tweaking and enhancing the

system. 

Forbes.com http://www.forbes.com/sites/aileron/2013/05/01/why-your-small-business-needs-crm/#612727fe6e72 ZDNET: http://www.zdnet.com/article/lessons-learned-from-a-crm-success-story/

SALES AND SUPPORT TRAINING

https://vwo.com/blog/ecommerce-shopping-cart-abandonment/

Social Media Marketing Campaigns

http://marketofbooks.com/marketing-online-8-types-of-internet-marketing-2/

IT SOLUTION

ENTERPRISE INFORMATION SYSTEM

An advanced & centralized database system enabling: Migration of old database into new database Information systems Computers People Procedures Software that stores, organizes and delivers information System in each functional area share the data

IT Solution

CONSUMER BACED WEBSITE TOIMPROVE SALES

User-friendly Portal For Customers Live-chat Accounts Information Customer service via Email Dynamic messages via Pop-ups Payment History Order Status E-Shopping Cart

IT Solution

IMPROVE MARKETING THROUGH IMPLEMENTING CRM

For Employees : Process orders Track payment records Input sales information Track inventory Schedule & payment VoIP for remote access

IT Solution

EIS SYSTEMIMPROVE HUMAN RESOURCES

Train the employees to efficiently use the new databaseTrack productivity, schedule and payment of employeesMaintain employee background informationPrepare Payrolls

IT Solution

EIS SYSTEMIMPROVE BUSINESS-ACCOUNTING&FINANCE

E-invoicing : Automatic sending of Payment remainders to

customers Help management track dues Help business manage customer credit accounts Saves time & money No Human error & loss of data Run Credit check on company background

IT Solution

DURATION & TOTAL BUDGET

Duration 6-8 monthsEstimated Budget = $530k

IT Solution

Human Resources

Budget Information

Two Trainers $ 80,000VP of Human Resources – Pending $ 78,000 IT Director $100,000VP of Sales/Marketing $ 90,000Training Program $ 75,000Total for Human Resources $423,000

Human Resources

Primary Focus

Train of employees to learn the new database system.

Have employees sign a non-compete clause prior to training.

Improve health benefits by changing the health plan.

Wage increase plan over a ten year period.

Human Resources

Columbus Syracuse

7.989.98.78

10.8910.112.5211.62

14.413.16

16.5616.03

19.87

Wage Plan

1st Yr 10% 2nd Yr 10% 3rd Yr 15%4th Yr 15% 5th Yr 15% 10th Yr 20%

Human Resources

Primary Focus

Drug and alcohol testing prior to hiring.Train former inmates, 2 Quality Control Mgrs. per

shift, and certain factory workers to move to areas that use computers.

Work with employees wanting to move to other departments.

Human Resources

Project Management

Project Management

2016 2016

Today

Feb Mar Apr May Jun Jul Aug

Project Kickoff

3/1/2016

Introduce IT Director (Ongoing) 3/8/2016

Build New Website

3/8/2016

Implement EIS3/8/2016

Remote Office Vehicles

3/8/2016

Introduce Training Program 4/14/2016

3/8/2016 - 9/8/2016Build New Website

3/8/2016 - 9/8/2016Implement EIS

3/8/2016 - 9/8/2016Remote Office Vehicles

3/8/2016New IT Director (Ongoing)

4/14/2016Implement New Training Program (Ongoing)

Project Management

HRTraining Program

High ImpactHigh Probability

ITConsumer Based

WebsiteHigh Impact

Medium Probability

Marketing Social MediaLow Impact

Medium Probability

ITRemote Vehicle Office

Low Impact Low Probability

Risk Matrix

Solutions Non-Compete Agreement (1yr) Secured Server and Firewall Social Media Sites That Can Help Build Clientele (LinkedIn,

Networking For Professionals, and Data.com) Provide Remote Office Vehicles with Backups.

Project Management

SUMMARY

Increase Revenue through: AR collection in AccountingSales Schemes in MarketingNew EIS database in ITEmployee performance in HRBudgeted and timed project in PM