Instead of just producing financial statements that report the past, imagine what difference it would make to you and your clients if your mutual objective was to get them to the top 10% of their industry for businesses their size for overall business performance as measured by the key Return on Assets?
You can achieve this now with BizBench!
The Importance of Recognizing Excellence – Our Own Experience
When Universal started it’s incredible growth curve in 2004, we were awarded by the State of Utah Department of Economic Development the UTAH 100 Award, for being one of the 100 fastest growing companies in Utah, and looked forward each year to making sure we achieved it the following year as well. We now have hanging on our Wall of Fame, a whole string of awards for that and each subsequent year.
Then in 2006, we were awarded by Inc. Magazine the Inc. 500 award for the first time for qualifying as one of the fastest growing companies in the United States Again we were motivated to do everything possible to continue to receive these awards. Today we have hanging on our Wall of Fame, a line of Inc. 500/Inc. 5000 awards.
The BizBench Top 100% Award – An Evolution of Excellence
Since 2001, we have been using BizBench as a tool to manage our key financial performance metrics as a business, one of the major contributing factors to receiving the awards above. We valued this tool so much that in 2012 we purchased BizBench, and in 2013 we reintroduced it to the marketplace.
We have just launched BizBench 2.0 this year. It is now available to you as an accountant, consultant, business owner, or business executive to be that powerful tool to move from exigency to excellence! We found that it doesn’t take any more work to manage a well run business that it takes to run a struggling company, and often it’s much easier.
So we are excited to make an announcement:
We are launching an award of our own – The BizBench Top 10% Award!
Return on Assets (ROA) measures management’s effective use of the entire asset base to generate profit. The ratio is computed by dividing Pre-tax Net Profit by Total Assets, and then expressing that number as a percentage.
This is an extremely important ratio where the higher the return, the more effectively all assets are being used to generate profits. The ratio is a good indicator of management’s ability to conduct profitable operations. It is particularly critical for a company’s initial growth phase they have a high return on assets.
Does your business or a client’s business already qualify for this award? It’s impossible to know for sure unless you know the statistical distribution for similar businesses in the same industry.
BizBench takes a company’s key data from the Income Statement (profitability) and the Balance Sheet (equity), calculates, tabulates, graphs and explains over 50 key measurements including ROA, and then compares each one to the statistical distribution of scores for each for a particular NAICS code and range of business size, using the respected Risk Management Association (RMA) database of business financials for the previous year. BizBench details the specific percentile achieved in each measurement. It provides specific suggestions for corrective actions in each area.
Virtually all measurements affect and culminate in ROA, and BizBench shows what the levers of the business are, where to find them, and how to operate them to reach the top 10% ROA for your industry.
If you are an accountant or business consultant using BizBench, you will receive an award as well as each client scoring in the 90th percentile or above for ROA. Imagine a wall of fame with many of your clients’ awards handsomely displayed for prospective clients to see. Imagine the focus it gives both you and your clients. Imagine the opportunity it gives you to reward your clients who follow your direction to make their companies great!
If you a business owner or executive, imagine the pride and motivation involved in knowing and SHOWING to the world that you are in the Top 10% of businesses of your size in your industry by NAICS code. Imagine what that could mean to your prospective clients, existing clients, vendors, lenders, and prospective partners. You will get a handsome award to display.
Order BizBench today and start getting your clients on board your ride to the top 10%!