Company making losses

Equipment Hire Company owned by client F was making losses but client unable to identify where the losses arose. The client had an antiquated computer system in place but was unable to afford to replace the system which he believed would allow him to identify where losses arose.

Management haphazard and not systematic and no progress seemed to be made on a day to day basis. The client was depressed and overwhelmed. BMOL Partners engaged. BMOL Partners immediately drew up a statement of affairs to determine the position of the company and projections with the management for the coming 12 months.  A monthly management meeting system was instigated run by a partner from BMOL Partners. At this meeting a standard agenda was set which was the reading of the previous month’s minutes, the financial results for the month and comparison to budget. Any items listed as for action during the month were listed also.

BMOL Partners immediately investigated the most appropriate software package for the client and negotiated with the supplier to supply on a payment over 3 year basis.

With the new software package and the monthly meetings, the company returned to profitability and the management felt they were back in control. The meetings allowed a forum for items to be actioned and tracked.