Performance Improvement

Performance Improvement Services

It’s all about improving the bottom line and increasing your Return on Investment (ROI). TLG Financial Consulting (TLG) provides many alternatives and solutions to make this happen.

Cost reduction via procurement process and profit recovery audit services do not cost you anything. TLG will only invoice our client when you realize cost savings or incur a bonafide profit recovery opportunity. TLG will receive only a percentage of savings or recoveries that you otherwise would not have experienced.  You can potentially increase your ROI while assuming zero financial risk.

TLG Financial Consulting will perform free procurement process cost-reduction reviews and/or free contract or disbursement reviews in the form of profit recovery audits. In conjunction with the profit recovery audit, we will also provide free root cause analysis and reports to ensure future losses are minimized.

Cost Reduction via Procurement Process (acquisition of goods and / or services)

We can save you money by revisiting the RFP / Tender process:

1. Provide us with a list of disbursements / accounts payable over a period of time (TBD) and a master vendor list – we will then perform an overall assessment of potential cost saving opportunities.
2. For each disbursement we identify as a potential opportunity for cost savings, we will initially request to interview key people to gain more insight.  A very limited amount of time will be required by your teams.
3. We will then request all vendor agreements in place for the selected vendors where we deem the most significant cost savings potential exists.
4. We will then revisit the RFP / Tender process in order to assess whether a rebidding process would be worthwhile.
5. If so, we will perform the bulk of the work in performing a rebidding process.
6. If and only if cost savings are REALIZED and the goods / services meet your satisfaction requirements will we receive any money.
7. Our fee is generally 40% of the REALIZED cost savings (generally over a period of one year); however, dependent on type of good and service and amounts involved, we will work with your teams to ensure fees are fair and reasonable.

Profit Recovery Audit

We included this audit in this section rather than in the Audit & Review Services section (separate tab) due to the nature of the audit being geared specifically to improving the bottom line.  We will review your data to identify the sources and causes for overpayments by your company or underpayments to your company.   This could very well result in recoveries for your business.  We will also address and report the root causes for these problems to ensure remediation measures can be taken to reduce future risk – this can actually result in a bigger win for the company than the actual recoveries & this information is provided FREE of charge.  TLG will assist in most areas of potential recovery opportunities!

Profit Recovery via Contract Compliance:

1. We will request a complete listing of all contracts / purchase order / other agreements (vendor and customer) and a listing of all disbursements / accounts payable, accounts receivable, etc., as well as your master vendor and master customer lists.
2. We will perform a complete thorough review FREE of cost to identify potential areas of risk where overpayments by you or underpayments to you may exist.
3. We will then select and request related documents for the chosen vendors / customers we deemed high risk from an exposure standpoint.
4. We will then perform detailed reviews of the agreements and review what has actually occurred in practice to ensure the actual transactions are consistent with the agreed upon terms.  This is where potential recoveries will be identified if they exist.
5. We will then report any and all potential recoveries to ensure there is agreement with your teams that potential recoveries do indeed exist (e.g., ensure all information was received, identify bankrupt companies – may be unreasonable to expect a recovery, etc.).
6. The root cause analysis will be presented in a detailed report FREE of charge.
7. We do not receive any money unless valid potential recoveries exist; meaning, there is no doubt as to whether your company is owed money.  Once this is evident and agreed upon, we would bill 30% of the agreed upon recoverable amount.  All terms and conditions would be explicit in the engagement letter.
8. We will also assist with recovering the money if desired; however, dependent on how much work is involved, we may charge a fee for this.

Increase Revenue – Improve the Sales, Service & Marketing Function

We can assist with increasing revenues through analyzing and improving the sales, service & marketing / advertising functions including optimization of pricing / incentives, improving the billing, invoice and payment practices, etc.  We can also assist with increasing market penetration and retention.  Marketing & Advertising – in addition to improving the billing / invoicing processes specific to industry standards, we can provide expertise to ensure contracts are adhered to and enforced, ensure payment methodology is best practice, etc.

Financial Statement Preparation

Reliable internal statements provide a snapshot of the financial position at a given time.  It is critical to have accurate information at your fingertips to ensure management decisions are based on reliable information.  TLG can assist in analyzing the current practice and making recommendations for improvement where feasible and cost beneficial.

Operational Performance Improvement

We can analyze operations, make recommendations, and help implement cost saving initiatives, decrease costs, increase efficiency, mitigate risk, etc.  We will help implement “dashboard” metrics and align department plans and objectives.  We can design and implement robust business processes, document and streamline existing processes, identify gaps, eliminate redundancy, implement a review process to monitor and report performance, etc.

• Planning, Budgeting and Forecasting – we can help improve the timeliness, accuracy and completeness of the various processes.  We can assist with implementing a process to monitor success, control spending and monitor cash flow and profit.  We can analyze the current processes, identify weaknesses and develop appropriate solutions.  We will assist with replacing manual efforts by further utilizing more accurate systems and system controls – result will be reduced planning cycle time.  We will help ensure the process includes appropriate input / feedback and buy-in (from budget owners) from all levels in the organization by use of surveys, questionnaires, interviews, meetings, etc.  Reduced complexity and a proactive team approach will result in cost-savings, improved moral, and Sr. Management / Boards / Committees, etc. will have a higher level of comfort in understanding and trusting the numbers.
• SWOT Analysis – we can create, improve, implement, review and report on the company disclosure process by utilization of a SWOT (Strength, Weakness, Opportunity, Threat) analysis.
• Impact Studies / Decision Modeling – we can assist with performing various impact studies and / or creating decision models where uncertainty exists using assumptions and estimates as deemed necessary.

Control-Self-Assessment (CSA) Process

We can assist with planning, implementation, execution, training (including train the trainer), etc., with regard to a robust or streamlined CSA process.  This is a process generally geared to mid-size or larger companies that are relatively mature organizations; however, we can create a streamlined model for specific areas of an organization that can provide significant benefits if designed properly.

Departmental Restructuring

We can assist with re-alignment, reduction and right sizing of departments and functions to ensure maximum efficiencies are achieved without incurring unacceptable levels of risk.

Disclosure Committee Function

This function can be multi-purpose in that it can be designed to report on disclosures necessary for SEC reporting as well as to report on the pulse of the organization such that Sr. Management, Boards and Committees can make sound business decisions based on the information gathered and reported.  We can help establish an effective Disclosure Committee Function and assist with designing effective streamlined reports.

Forced Timely Decision Making Workshops (GoFast)

We can help a company implement a workshop type process that incorporates the necessary steps to ensure important decisions can be made quickly.  This aids in reducing the possibility of not meeting important milestones and reduces exposure to unnecessary risk where timelines are critical.

Independent % of Completion Reports

We can assist with ensuring the reports presented are accurate and complete by reviewing the information independently.

Shared Service Synergies

We will review and consider all functions including the finance and accounting functions to assess whether changes regarding shared services would be beneficial.  We will assess and consider the benefits of internal versus outsourced functions / processes, and consolidation of back office functions such as invoice processing, payroll, human resources, regulatory and legal.  We will also review any outsourced shared services contracts to assess from a cost / benefit standpoint.

Project and Program Management

We will assist with your projects in any capacity deemed necessary.  We will assist with preparing business cases, project work plans, managing resources, developing project deliverables, and measuring progress verse targets / budgets (post-mortem analysis).  We will also help identify the related risks and opportunities.

Surveys

We can help create / design / develop any type of survey your company requires.  We can help with the dissemination process, identifying appropriate audiences for response, compiling and summarizing results, evaluating and reporting results, and creating corrective action plans or changes where necessary.