manage business financials in 30 minutes a month (microsoft wpc 2011 conference)
DESCRIPTION
Tony Lael presents at the Microsoft Worldwide Partner conference how solution providers can manage their finances in just 30 minutes a monthTRANSCRIPT
Manage Business Finances in 30-Minutes a Month
Tony LaelExecutive Vice PresidentCorelytics, Inc.
BL16
What road is your company on?
11 Countries and counting…
Stage of Business Drives Priorities
Start Up Lifestyle
Looking for ExitExperienced
Team
LifestylePersonal freedoms
Primarily T&MSome fixed feePersonal managementIncome, expenses & cash
Start UpBuild, build, build
Multiple LOBsContractsDevelop Management skills Growth
Experienced TeamDevelop a rhythm
Client PortfolioClient service #1Line managersEBITDA
Looking for ExitRight hands for the right amount
Most optimal value with smoothest transitionValuation
Business models & industry trends drive management practices
I n d u s t r y Tr e n d s
MSPs see recurring revenues, but profitability harderCombined shows higher growth, but management complex
Trends Revenue and EBITDA growth rates
- Taken from Corelytics Industry Performance Report February 2011
Companies providing RMM services see higher profitsTop performers see 49% higher profits
Trends Profitability – remote monitoring & management
- Taken from Corelytics RMM Industry Performance Report June 2011
What do top performers have in common?
P r o a c t i v e F i n a n c i a l M a n a g e m e n t
Have a Process30 Minute Monthly Management
Top 5 to 15 (examples)Revenue ExpenseProfitGross MarginRevenue per Billable FTEEBITDAMarketing ExpenseGross Margin
Know Your MetricsBreak down by line of business
Review Performance See the picture
Key relationshipsCash to Expenses Revenue Rate to Expense Rate to Cash Balance
Ask toughmanagementquestions
Review Performance Track goals, tune into industry trends, look ahead
Your goals GrowthPercent of Revenue
Track benchmarks for your model
Use best and worst case scenarios
Assign OwnershipExperienced players know
Link operational priorities to metrics you track
Overall companyperformance
Line of business performance
Business Intel l igence derived from the Corelytics™ Financial Dashboard is fundamental to strategic planning and to routine business management.
–Todd Thibodaux, CEO
Manage with intention
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