Everyone Loves a Gross Margin Report

What would we do without the good old Gross Margin Report? It is a handy guide that helps analyze our staffing firm’s profitability and forecast future revenue. It is a very important tool if checked regularly because the information can help us make adjustments to ensure good profitability. Gross revenue is one thing but the true bottom-line is profit.

The Gross Margin Report should be analyzed from a number of perspectives. For example, when calculated by customer we can see which of our clients are the most profitable. If you simply look at highest revenue, you may be missing the fact that one of your smaller customers are producing more revenue after costs.

Another great perspective is by employee. Which employees are the good producers? If you are processing credits because of low quality work or are lowering rates because of client dissatisfaction with the employee, it is good to know. On the other hand, well-liked employees that are producing nice profits may be worth a raise or some other benefit in order to keep them loyal and happy.

What about internal employee productivity? When the gross margin report is produced by consultant you can determine which of your internal employees are yielding the most profitable placements. Are they reaching for low hanging fruit just to say they made a placement? Is your placement leader really your “highest producer”?

Other great ways to review the gross margin data is to procure the numbers by: average gross profit $ per hour; # of employees considered in the equation; # of customers included in the calculation; by branch and by line of business.

In order to make the data more meaningful and provide more flexibility, you can view the data utilizing a “big-data tool”. Big data tools are great because they offer graphical depictions that help identify data trends and alarming business problems. In addition, most allow you to “slice & dice” the data from different perspectives. This is important because often your environment will change beyond your control. However, you do have control over how you are doing business and the gross margin information can help you avert bad business practices before it is too late and harmful to your business.

Often, you and your employees may not be aware of detrimental business numbers without looking at the reality of what is really happening. It is very important to identify business issues as soon as possible. This is why it is valuable to study the gross margin report weekly and over the course of several weeks. If you spot something unfavorable in your weekly numbers you can learn if this is just a bad week or an ongoing problem that must be addressed.

Make the Gross Margin Report your best friend.

The Importance of a Credit Report

Your credit report in combination with your credit score is as important as the air you breathe. Without it, you won’t stand a chance or survive in the United States. To most of the country, you are just a number in conjunction with a credit history. It does not matter whether you are good person, volunteer, lie or cheat. It only matters how responsible you are with your personal finances.

The simplest way to find out about your credit history is to order a copy online. You want a website that provides you with information from the three major credit bureaus;Experian, TransUnion and Equifax. These bureaus analyze your financial decision making; both past and present, and put that information into a report. A good website to use that provides this information is creditchecktotal.com. It only costs $1 to check and can provide you with invaluable information compiled into a credit report. Your report will not only provide your current credit score, but also your entire credit history.

A credit report acts as your credit references. A positive credit history tells potential lenders that you manage your finances well, i.e. borrow money and pay it back in a timely manner. A negative credit history tells lenders you have a difficult time managing your finances and instead are in debt, often not repaying them as agreed.

Credit reports help you by providing you with your personal financial history. This may include attempts at fraud made by others at your expense or errors made by varying lenders. The report can also provide you with information on good or bad decisions you may have made in the past. By staying up-to-date with your financial history, you can ensure you are making good choices, have the ability to detect if someone is committing identity theft and ensure there are no errors.

In addition, a credit report can explain why you were not approved for a certain loan or line of credit. Even though you had a great or excellent credit score, you still had a negative item or charge back on your credit report, so the financial lender refused to approve you.

You can also see how fast your credit score can be transformed. If you go ahead and start repairing your credit, you can watch how fast negative items can be removed and how fast you will gain points putting your score from bad or below 600 to above 700.

If you are not happy with your current FICO score and/or credit history or find there are errors in the report, you can contact a credit repair company. The credit repair company can boost your credit score, remove negative items and/or dispute errors on your behalf.

Source by Lori Askins