Working capital is actually the difference between company’s current assets and current liabilities and it is a very important financial ratio showing the company’s liquidity and efficiency. The current assets (reported on the balance sheet) include cash, accounts receivable and prepaid expenses. On the other hand, current liabilities are paid either by the current assets … Read more
RFM is a database marketing technique originally developed and used in direct marketing and retail industry. This approach can be used in any industry to support marketing and sales decisions for developing marketing and sales strategies and tactics. RFM tool is used for analyzing customer behavior and identifying customer groups with similar behaviors. Different customer … Read more
The typical commodity product sellers from the past, today provide various services along with their physical products such as delivery, insurance, installation, warranties, ongoing support, customer service, etc. By doing that, they improve their physical offering and deliver better and more competitive customer experience and satisfaction. Marketing and selling services successfully requires organized approach focused … Read more
Performance management tips, best practices, applications, articles and software for planning and managing performance goals, objectives, targets, metrics and KPIs for corporate and small business performance management. How to develop and organize a successful business performance management system? Excel Dashboards and Performance Management How to create powerful excel dashboards and performance measurement system for your … Read more
Time Sheets Even for the salaried professional, it is not uncommon to fill out a timesheet that aids payroll in providing paychecks and tracking vacation, sick, and other time off. Sign-Out Boards For employees who work in the field in particular, establishing a sign-out board is a good way to keep track of employees’ whereabouts … Read more
Effective customer retention is a strategic long-term process and it is organized and executed throughout the entire life of the customer from the very first customer engagement till the end. In order for the customer retention program to work successfully an entire different mindset is required by the management. Instead of focusing on maximizing the … Read more
Most companies and business professionals are already involved in social media marketing trying to promote their products and services and generate leads. However in addition to using social media for marketing, advertising and promotion there is another big potential of social media which is leveraging the data available for your business research. Social media is … Read more
When you try to manage a decent quality of a product or service you need more than a simple once-in-a-while one-time fixes. It is not enough to just fix quality issues for one or two customers a week… If you are a decent business manager or business owner you are thinking about creating efficient and … Read more
Estimating Project Costs Estimate and Maximize ROI on your project Plan resources and allocate necessary costs to your project activities Minimizing the project cost while achieving all of your project goals and objectives The goal of each and every project is to add value to your organization. At the end the benefits should outweigh the … Read more