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In the business world, we’re all about systems. Software and programs help us manage all aspects of our office life. But, of course, as time marches on, systems become outdated. If you’re considering an upgrade or update, there’s an art and a science to selecting a new system. No matter which business system you are…

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Recently, a Project Manager in St. Louis asked me about due diligence and acquisition integration. They were coming into the acquisition process with no previous experience. First, we addressed the due diligence process, but the other piece of the acquisition comes during the integration. Integration project management and planning is vital during this step. Informing…

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Your company made an acquisition. Now what? Now comes the easy part – NOT!!  Successful post-acquisition integration is more of an art than a science, but a solid implementation plan is critical. Large companies typically have experienced integration teams that are trained to handle post-acquisition planning and still a significant number of acquisitions fail to…

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To acquire or not acquire, that is the question. Before you set your acquisition strategy, you need to explore the reasons and benefits. Companies seek acquisitions for many reasons, some of the most common reasons for acquisition are: Geographic expansion in the same line of business Consolidation of competition in the industry Acquire R&D or…

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What constitutes an advisory board? Who should participate on an advisory board? Is an advisory board the right fit for my business? While most private companies aren’t required to have a formal board of directors unless investors or their banks insist, advisory boards bring value to the business. Even if you are the sole owner…

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Dear CFO, My boss recently came back from a seminar and was excitedly going on about setting up KPIs and dashboards. Is this a new flavor of the day or are the KPIs and dashboards valuable tools for running the company? It seems it’s my job to start the process of collecting and presenting the…

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There is much discussion of key performance indicators: what are KPIs? How to set KPIs? How to organize your dashboard? Let’s clear up some of the confusion as to what KPI means as well as discuss how to choose YOUR key performance indicators for YOUR dashboard Key Performance Indicators, or KPIs, are a powerful tool…

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Dear CFO, As the controller in a very small manufacturing company, taking inventory is the worst job in the world (ok, maybe not the worst, but certainly tedious). The process itself is hard, but the reconciliations are even more difficult. My team uses information provided by the shop floor and sometimes I’m not sure if…

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