Assess Financial Preparedness

Account

Do you compare your performance against budget & past period performance ?

• Monthly
• Annually
• Never

Do you track and let go of unprofitable customers?

• Regularly
• Sometimes
• Never

Account

Do you have annual budgeting process ?

• Yes
• No

Do you have 3-5 year strategic plan ?

• Yes
• No

Do you have effective incentive plan for team backed by budgeting ?

• Yes for All
• Yes for Few
• No

Account

Are you able to pass on RM & other inflation cost to the customer ?

• Regularly
• Sometimes
• Never

Do you close audit within first 3 months of following financial year ?

• Yes
• No

Do you know your Working Capital position ?

• Yes - Check Regularly
• Have Fair Idea
• No

Account

Do you timely liquidate slow/non moving assets to ease Working Capital ?

• Regularly
• Sometimes
• Never

Do you have mechanism to timely resolve invoicing disputes raised by clients ?

• Regularly
• Sometimes
• Never

Account

Do you know working capital cycle in no# of days with break up of inventory turnover, debtor Days outstanding and Payable days outstanding. 

• Yes
• No

Do you know product wise profitability/gross margin ?

• Yes
• No

Account

Do you know location wise profitability ?

• Yes
• No

Do you track marketing ROI & IT ROI ?

• Yes
• No

Account

Do you divide your expenses into fixed, variable, discretionary & onetime ?

• Regularly
• Sometimes
• Never

Is your current finance team thinking beyond book closing ?

• Regularly
• Sometimes
• Never