How well has your business weathered the recession? Are you poised to seize the opportunities created by customers re-opening their wallets, cautious as this recovery is? Do you know how well you are doing in comparison with your competition and how well you will be doing?
To answer these questions you need precise, in-depth financial data. And the MO SBTDC's new ProfitCents is the tool to get it done.
ProfitCents is a web-based financial analysis software suite that turns complex financial data into a report written in plain language, with charts and graphs whose meaning you can grasp in a glance. The report uses ratio and trend analysis as well as unique industry comparisons and even expectations to analyze your firm's financial health in hundreds of categories from sales, inventory and assets to debt, payroll and borrowing capacity to better position your firm for growth.
The report is a snapshot of exactly how well you're doing, how well you will be doing and how your financial situation compares to similar businesses. This unique industry scorecard examines nearly 20 indicators, compares them to the industry average and indicates how far or close you are to similar firms. Each report is unique to your company's financial condition, financial performance and industry because no two businesses are exactly the same.
You can use the report to:
And dozens of other uses.
Jim Gann, director of technology and business development for the MU SBTDC and a member of the team that brought the tool to the statewide program, says, "ProfitCents gives MO SBTDC's counselors and clients an unparalleled diagnostic tool. It allows us to slice and dice financial data in ways that are most beneficial to our clients. It may be our best measure yet of how well a business is really performing."
ProfitCents is designed for an owner/manager of an existing small- to medium-sized business. While there is a fee associated with this report, it's on a sliding scale. Individualized analysis of the results, in addition to small business counseling based on your specific needs, is also available.
For more information or to see if ProfitCents is the right tool for your business' transformation, contact your local MO SBTDC center. To find the center closest to you, go to www.missouribusiness.net/sbtdc/centers.asp.
This story was featured in the June 2012 newsletter