Billing and Internal Audit

Internal Audit is necessary no matter how tight you think your accounting parocesses are. Many believe that audits help reduce fraud and stealing, but it also assists in finding honost billing mistakes.

Creating Systems

Over the last few months I have met with multiple CEOs of growing service firms. One of the biggest challanges that they all faced is that they are very quick to jum in a solve an issue, but they have a tendancy not to create a system that others can follow. In order to continue gorwing, firm leadership must create and document processes. They must take the time to teach people the system. If an issue ocome up more then twice, did you ever really fix the issue.

Innovation

I believe innovation is derived from collabration and that genius comes from a group - not an individual. As a firm becomes more mature it becomes very process oriented. This allows people to become complaicent and less innovative. In short innovation burns more calories then just following process. To be innovative you must talk to others, think outside the box, and go over and above. Managers must take steps to keep the blinders away from their staff and encourage collabration. Developing a puzzle solving culture where stand up meetings are the norm wil keep new ideas flowing and will provide insight that many firms never understand.

Process and Methodology

Its important to remember that no matter how "custom" you business is you still need a process with associated time benchamrks. A process allows for training of new individuals, consistancy for delivery, and expectations of time to deliver. In short not haveing a process with cost you money and frustrated employees.

CSI

It suprising to me that many firms dont measure or embrace Customer Service. If a firm really makes an effort to gather the data and reward high performing individuals customer service becomes part of the culture of the firm. The survey is the traditional measurment tool, but the process to gather the survey results is even more important. Here is the process that I ahve developed over the last few years.

Process

1. The marketing assistant will send a report denoting all qualifying projects to all Portfolio Managers and Sales People the first Wednesday of each month.
2. The Sales Person will call the client to make them aware that the survey will be coming and the purpose of the survey.
3. The survey will be sent by the Marketing Assistant using the COOs email address and Name on the third Wednesday of each month to the qualifying clients.
4. The Marketing assistant will compile the results the following week and send to all Portfolio Managers and Sales People
5. The Sales Person will follow up on any survey not returned the week following the status report.
6. The Marketing assistant will send a weekly update to all named client contacts on all additional surveys completed.
7. Executive management (CEO, COO, CTO, and CFO) will call any client providing a score of 2 or below. The caller will gather feedback, disseminate to affected department heads, and deliver in the bi-weekly management meeting.
8. If we did not receive a returned survey the Portfolio Manager will work with the Sales Person to accomplish the goal.