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Cohen & Company Offers New Program
For Monitoring Company Performance
One of the most common questions our clients ask is, "How do you think we are
doing?" There are many ways to attempt to answer that question that depend on
the type of business, seasonality, etc. Often, however, we see too many owners
get caught up in just focusing on their cash account or top line revenue.
Although these are obviously both very important, they do not show the true
story in almost all cases.
Instead, businesses should take a broader look at issues that affect
success in their specific circumstances. Selecting 10 to 15 financial,
as well as non-financial, data measurements (or benchmarks) can help
owners and managers
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monitor and respond to performance issues on a proactive basis. In order
to work, measurements must be accurate and timely.
In an effort to further assist our clients in this critical process, we
recently became licensed to provide Business In-Touch software. This
software allows information to be downloaded directly from an accounting
software program. Business In-Touch then calculates a myriad of measurements
that includes charts, graphs, and tables illustrating your performance that
can be easily trended on a monthly basis and accessed via the internet. If
desired, data can also be submitted on a monthly basis to a national
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database that compares the data to companies submitting with the same industry
code from around the country.
We're very excited to offer this new tool. Not only will it help clients
get information on a timely basis, it allows Cohen & Company to more
accurately understand the key tax and financial trends. Together, we can
focus on business priorities while there is still an opportunity to change
the results.
For additional information on how to get registered for Business In-Touch,
visit our online demo
or contact Tom Bechtel at 216-774-1142 or
tbechtel@cohencpa.com.
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