In recent articles we have discussed several aspects of business finance.  Topics so far have included internal controls, capital planning, and managing working capital. While almost every business pays attention to financial performance, studies show that small and medium sized businesses in particular frequently do not engage in thorough financial planning – if at all. 

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In the past few weeks we have been covering important elements of finance processes, including internal control systems as prescribed by Sarbanes-Oxley, and the importance of capital planning to ensure key high level financial facets such cost of capital and return on assets have established goals and are being measured.

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With the implementation of the Sarbanes-Oxley Act (SOX), finance and accounting departments have scrambled in recent years to put in place internal control systems as required by SOX section 404. Compliance with SOX and SEC regulations are certainly good reasons for companies to create an internal control system. Small and medium size business (SMB) owners might wonder, though, how this applies to them or helps improve their business metrics. Perhaps you have a few investors or creditors and need to produce financial statements, but you don’t have to worry about complying with SEC or SOX regulations. Or do you?

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At Bizmanualz we are a strong advocate of using the ISO 9001 Quality Management System (QMS) as a business improvement tool. We feel the emphasis on the process approach and continual improvement are important foundations for effective management.

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Question of the month: Why is a phased approach useful when you are writing policies and procedures for your organization?

Our topics in November revolved around writing policies and procedures.

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In past articles we have explored the very basic reasons why an organization needs procedures.  My belief is that, no matter how many complex explanations you give or long lists you create, it all boils down to four basic reasons: 

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Last week we brought up the topic of why we need procedures. While some would answer this question by providing very long lists of reasons why, these lists sometimes aren’t useful. They are too long to really remember and absorb, plus there is too much overlap and redundancy. I, however, listed four very basic reasons that I feel demonstrate why we should develop procedures

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“Why do we need policies and procedures?”  Have you heard that question before?  Perhaps you were even the one asking it.  How happy were you with the answer you gave, or with the one you received?  Frequently people struggle to give a clear and meaningful response to such an obvious question. 

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“I am here to audit you.”  That phrase can strike fear in most of us, thanks in part to our good friends at the IRS.  In the business world as well, those five words can send a chill down the spine of everyone from the Finance VP to the shipping department clerk.  But it shouldn’t. 

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Last week we discussed Precoat Metal’s change initiatives. This week we will talk about the Colliers Turley Martin Tucker (CTMT) Data Center Facilities Team that takes their mission very seriously. 

CTMT is one of the nation’s most successful real estate and facility management companies,

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