In April of 2019 a Cogent Analytics team member stopped in our shop to see if they would be a good fit for our company to help with process improvements and increase profitability. After the field rep sat down with us and discussed how Cogent could help, we scheduled the 3 day discovery.
During the discovery Arlon highlight some areas where we could make improvements; such as, our parts and equipment inventory issues which were causing cash constraints and causing us to use our LOC more often than we would like. After careful consideration and conversation we decided to move forward with the project to help implement these processes.
While Kai was onsite (6-7 weeks), we greatly increased our understanding of profit engineering, true break-even, parts and equipment turn ratios and implemented KPl’s to help track and trend performances. We implemented KPl’s, a cash management system, a budget tool, Company dashboard, and a rental equipment scheduling and management tool.
We also implemented clear roles and responsibilities with jobs descriptions for all employees and created an Incentive program to help get the most of our employees and reward them in exchange.
With these new procedures and processes we will be able to hold each other accountable to each other. I am confident we will be a profitable company going forward.
Thanks for the knowledge you have shared.
Dwight Martin – CFO/GM