tag:blogger.com,1999:blog-76933006353086336682024-03-13T09:59:35.972-07:00NEXUM CASH FLOW AND PROFIT OPTIMISATION SOFTWARENEXUM™ is about predicting and managing risks relating to a customers ability to meet the financial obligations of an agreement.
NEXUM™ will take you on a dynamic journey, balancing legislative compliance with effective account management.
Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-7693300635308633668.post-77364536353164855092013-10-25T07:47:00.000-07:002013-10-25T07:47:17.269-07:00Planning for Profit
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Following the success of this years round table events we have been asked to provide a range of web-based webinars aimed at discussing more detail relating to the 10 stages of the Matter Profit Journey as outlined to you during the London events.</div>
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The <span class="s1"><i>10 stages of the Matter Profit Journey</i></span> encompasses the <span class="s2"><b>NEXUM 360°</b></span> financial health check program, used across our client base, covering:</div>
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<span class="s3">1</span>. Profit Planning</div>
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2. Pitch process</div>
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3. Expectation</div>
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4. Delivery</div>
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5. Billing</div>
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6. Payment</div>
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7. Collections</div>
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8. Query & dispute management</div>
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9. Cash application</div>
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10. Sustaining business</div>
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I'm very pleased to announce that a range of free webinars introducing the <span class="s2"><b>NEXUM</b></span><i> </i><span class="s1"><i>10 Stages of the Matter Profit Journey</i></span> are scheduled to take place online over the coming months. The first webinar will cover planning and look at the capability of the law firm to deliver profitable services to the market, how to identify demand, ensure you have the correct assets to target the right audience in order to achieve the firms <span class="s4">Survival/Growth Strategy</span>.</div>
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<i>Although on the face of it the subject matter of the first webinar Profit Planning suggests a marketing bias, the content is deeply rooted in the financial success and fitness of your firm.</i></div>
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The webinar will be hosted by Jim Stanley,Managing Director /CEO of <span class="s2"><b>NEXUM</b></span>. Jim invested four years in private practice before moving into legal technology and professional services during the mid 1990s. Working with colleagues Jim formed a highly successful organisation that grew to become <span class="s2"><b>NEXUM</b></span>.</div>
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NEXUM and has enjoyed more than 20% growth year on year for the past eight years, fending off fierce competition, external investment and reliance on the bank. Jim is a Chartered Marketer and has developed strategies to ensure <span class="s2"><b>NEXUM </b></span>maximised its resources in line with changes in the economic landscape.</div>
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<span class="s2"><b>NEXUM </b></span>currently deliver cash-flow and profit improvements to more than 100 clients including Heineken, Travis Perkins, DSG Retail, South East Water, Herbert Smith Freehills, Irwin Mitchell, Pannone and recently announced a major project with The London School of Economics.</div>
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This webinar is aimed at both Managing and Senior Partners together with finance and operational executives within your firm. We will look at how proper planning during the earliest stages of the business cycle can have enormous impact on the reducing the risk of not achieving target profit, cash and growth levels.</div>
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<b>Register for a session now by clicking a date below:</b></div>
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<a href="https://www3.gotomeeting.com/register/824420446">Wed, Nov 13, 2013 1:00 PM - 1:20 PM GMT</a></div>
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<a href="https://www3.gotomeeting.com/register/824421062">Wed, Nov 20, 2013 1:00 PM - 1:20 PM GMT</a></div>
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<a href="https://www3.gotomeeting.com/register/824422950">Wed, Nov 27, 2013 1:00 PM - 1:20 PM GMT</a></div>
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<a href="https://www3.gotomeeting.com/register/824427918">Wed, Dec 4, 2013 1:00 PM - 1:20 PM GMT</a></div>
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<a href="https://www3.gotomeeting.com/register/824433502">Wed, Dec 11, 2013 1:00 PM - 1:20 PM GMT</a></div>
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Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-79929678784837609592013-05-08T03:01:00.001-07:002013-05-08T03:01:19.532-07:00Charles Christian Interviews Jim Stanley <span style="font-family: Arial, Helvetica, sans-serif;">Charles Christian <span style="background-color: white; color: #333333; line-height: 17px;">Publisher and editor of the Legal IT Insider global legal tech industry newsletter and the LegalTechnology.com website interviews Jim Stanley co-founder of NEXUM. </span></span><br />
<span style="background-color: white; color: #333333; font-size: 13px; line-height: 17px;"><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></span>
<span style="background-color: white; color: #333333; font-size: 13px; line-height: 17px;"><span style="font-family: Arial, Helvetica, sans-serif;"><a href="http://www.therevenuetion.com/jim_and_charles_128kbs.mp3" target="_blank">http://www.therevenuetion.com/jim_and_charles_128kbs.mp3</a></span></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Charles interviews Jim about the rise of NEXUM, what they offer the legal and professional service markets and how experienced gained in the wider corporate market can provide benefits. </span>Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-46348632915900665302013-03-20T04:42:00.000-07:002013-03-20T04:42:33.631-07:00What can your word power win you?
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<b><span style="font-family: "Century Gothic"; font-size: 14.0pt; line-height: 150%; mso-bidi-font-size: 10.0pt;">What can your word power win you?<br />
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<span style="font-family: "Century Gothic";">Nexum
Software is marking its event sponsorship of this year's LawTech Futures with
the release of a new gaming app. The revenue management specialist, who will be
promoting its 'Revenuetionary' approach to law firm financial fitness at the
event, has today launched Word Patroller for iPhone. <o:p></o:p></span></div>
<div class="Body1" style="line-height: 150%;">
<br /></div>
<div class="Body1" style="line-height: 150%;">
<span style="font-family: "Century Gothic";">The
game’s 'making words under pressure' format will appeal to fans of App Store
classics SpellTower and Boggle while an added competitive element should make
for a healthy download rate in the lead up to the show.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Century Gothic";">"It's
a fun, brain-training style game that everyone can enjoy but we thought we'd
encourage plenty of participation by running a couple of competitions around
LawTech Futures”, explains Nexum’s Jim Stanley. “These are open to law firm staff, and we'll
have one competition running from now until 28th April for those not able to
attend the show on the 30th; and the other taking place on the day itself
especially for delegates. <o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Century Gothic";">Both
will work exactly the same way with the highest validated score winning its
owner the latest iPad. You'll have to download the game to see what it's all
about but one tip I can share with you is to look out for opportunities to
spell 'Nexum' and 'Revenuetion' - they'll do wonders for your score!"<o:p></o:p></span></div>
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<br /></div>
<div class="Body1" style="line-height: 150%;">
<span style="font-family: "Century Gothic";">To
enter the first competition, gamers should email a screenshot of their High
Scores page to scores@therevenuetion.com no later than midday <o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Century Gothic";">on
April 28th. (Press Power and Home buttons together for the screen grab.) There
is no limit on how many times the High Scores page can be submitted. To enter
the second competition, LawTech Futures' delegates should visit the Nexum stand
to present their High Scores page no later than 6pm on 30<sup>th</sup> April.<o:p></o:p></span></div>
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<br /></div>
<span lang="EN-US" style="font-family: "Century Gothic"; font-size: 10.0pt; mso-ansi-language: EN-US; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-bidi-language: AR-SA; mso-fareast-font-family: Cambria; mso-fareast-language: EN-US;">To
download the game, visit the App Store and search for ‘Word Patroller’ or click <a href="https://itunes.apple.com/us/app/nexum-word-patroller/id600980178" target="_blank">here</a> to download from the Apple App store.</span><br />
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John Mullins invites you to his round table discussion: Tackling the financial fitness challenge </div>
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<br /></div>
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<b><i>Thursday 9</i></b><span class="s1"><b><i><sup>th</sup></i></b></span><b><i> May or Wednesday 12</i></b><span class="s1"><b><i><sup>th</sup></i></b></span><b><i> June, 9.30am, Law Society</i></b></div>
<div class="p3">
<br />
Its little surprise that fiscal hygiene and financial fitness are at the top of todays practice agenda. Firm failures, flat revenues, rising costs, increasing competition and price pressure, lending restrictions, delayed distributions, these are just some of the factors coming together to create the perfect storm for UK law firms. Its the tight ships that will have the best chance of riding that storm successfully, those that are proactively and effectively managing cash, WIP and debt to improve working capital and drive down lock-up.</div>
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Led by former COO and CFO of Herbert Smith Freehills John Mullins, the session will explore the current legal landscape and examine practical strategies for:</div>
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·<span class="s2"> </span>Improving WIP management</div>
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·<span class="s2"> </span>Increasing billing and collection realisation</div>
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·<span class="s2"> </span>Limiting write-offs</div>
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·<span class="s2"> </span>Improving matter profitability</div>
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·<span class="s2"> </span>Reducing bad debt</div>
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·<span class="s2"> </span>Accelerating cash to offset interest payments</div>
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·<span class="s2"> </span>Boosting PEP</div>
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<br />
As part of the discussion John will share a case study from a Top 20 firm, explaining how it successfully reduced debtor days by 20% in less than six months, achieved a £10m cash acceleration in the same timeframe, and is on track to cut three weeks from its lock-up figures. The aim is to highlight that there are proven methodologies a potent mix of new thinking, technique and technology for tackling the financial fitness challenge.</div>
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<br /></div>
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We hope that you can make one of the two planned sessions and look forward to welcoming you. Please note that as places are limited, we will be operating on a first come, first served basis. If you are unable to come but wish to pass the invitation to a colleague, feel free to do so.</div>
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<br /></div>
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<b>Dates:</b> Thursday 9<span class="s1"><sup>th</sup></span> May or Wednesday 12<span class="s1"><sup>th</sup></span> June </div>
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(Please indicate preference in RSVP)</div>
<div class="p3">
<br />
<b>Start:</b> 9.30am Registration and Coffee <br />
<b>Finish:</b> 12.30pm Concluding Remarks and Lunch<br />
<b>Location:</b> The Law Society, Chancery Lane, London WC2A 1PL </div>
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<br /></div>
<div class="p3">
RSVP: To book your place please email either email me at <a href="mailto:sleach@nexumsoftware.com"><span class="s3">sleach@nexumsoftware.com</span></a> or call me direct on 0845 226 8184</div>
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<br /></div>
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<br /></div>
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Kind Regards,</div>
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<br /></div>
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<b><i>Susannah</i></b></div>
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<br /></div>
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<br /></div>
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<b><i>Susannah Leach</i></b></div>
<div class="p3">
Business Development Manager</div>
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Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-34628027177924508322013-01-29T06:03:00.001-08:002013-01-29T06:03:08.343-08:00Value Gain<span style="font-family: Arial, Helvetica, sans-serif;">The <span style="color: #e69138; font-size: large;">nexum</span> <span style="color: #38761d;">Revenuetion </span>'Value Gain' relationship. </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Value = <span class="sc" style="background-color: white; color: #333333; display: inline; font-variant: small-caps; text-align: left;"><span id="hotword"> </span></span><span id="hotword" style="background-color: white; color: #333333; text-align: left;"><span id="hotword" name="hotword" style="cursor: default;">is</span> <span id="hotword" name="hotword" style="cursor: default;">that</span> <span id="hotword" name="hotword" style="cursor: default;">quality</span> <span id="hotword" name="hotword" style="cursor: default;">of</span> <span id="hotword" name="hotword" style="cursor: default;">anything</span> <span id="hotword" name="hotword" style="cursor: default;">which </span><span id="hotword" name="hotword" style="cursor: default;">renders</span> <span id="hotword" name="hotword" style="cursor: default;">it</span> <span id="hotword" name="hotword" style="cursor: default;">desirable</span> <span id="hotword" name="hotword">or</span> <span id="hotword" name="hotword" style="cursor: default;">useful. </span></span></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><span style="background-color: white; color: #333333; text-align: left;"><span name="hotword" style="cursor: default;"><br /></span></span></span>
<div style="text-align: left;">
<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;">Do you purchase technology or invest in it? What value do you expect, what is your approach to value gain?</span></div>
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<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
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<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;">Most cars have four wheels, an engine, seats, brakes etc, but the price range ca start at a few £1,000 for a new one to £1,000,000 - so why the gap? The price difference relates to value offered by the supplier and perceived by the buyer. Comfort, economy, speed, image, reliability, running costs etc are all value components. </span></div>
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<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;">Take the Apple iPad, it currently commands a 30%+ premium over competitive products, why? It is the value buys gain from the experience - reliability, image, functions, quality. </span></div>
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<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
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<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;">When you look at software now, do you see it as a solution to deliver a gain in 'value' now, in six months and each year afterwards? Do you see us as 'suppliers' or 'partners'?</span></div>
<div style="text-align: left;">
<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
<div style="text-align: left;">
<span style="color: #333333; font-family: Arial, Helvetica, sans-serif;">Working together we are enablers; enabling change, improvements, benefits, low risk, comfort - or value as we see it. Throwing technology at a problem is just that, 'know-how' makes the difference. </span></div>
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Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-83010265164894902122013-01-08T01:21:00.001-08:002013-01-08T01:21:35.287-08:00If it saves lives... We really gain a lot from reading about the principals and procedures adopted by the pharmaceutical and medical industry, not because we have an interest in joining that industry BUT because what they do has to work or else. The developments in this sector within the previous 40 years has cured many fatal illnesses, prolonged life for many others and generally helped man kind survive. The morality of this is a different discussion. What interests us is their approach and how that can be adopted by the commercial world at it suffers.<br />
<br />
One of the greatest medical developments has been in detection and the now accepted rule that 'accurate diagnosis is half the cure, treatment without understanding can be harmful if not fatal'. How many firms have invested too much in solutions with less than acceptable benefit?<br />
<br />
For 2013 one of your core activities should be to focus on accurate diagnosis. Our reputation is one of a partnering organisation that swiftly reduces lock-up, increases realisation rates and reduces write-offs, leaving the technology aside our approach enables us to deliver pin sharp results, much of this has been bought about by our approach 'accurate diagnosis of what is required'. For us this underpins the foundations of The Revenuetion, 'Do now what needs to be done'.<br />
<br />
Unlike many organisations we are driven to sell clients a lump of stuff at the highest price, our approach is to sell clients what they need at the highest value to both sides. Win Win.<br />
<br />
In the year ahead the financial health of your business is determined solely by what you do now. We wish you a successful 2013 and a healthy one too!<br />
<br />
<br />Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-50540992204940084142012-11-14T06:23:00.001-08:002012-11-14T06:23:06.898-08:00Signs of illness and health checksIt has and still is an amazing adventure with pretty much every client at varying degree's. It is clear now that where NEXUM's sits in an organisation determines our ability to accurately monitor the health of their business.<br />
<br />
Recently a large client placed NEXUM towards the front end of the business monitoring the 'customers financial journey'. This was a great opportunity for us as we were not just capturing problems i.e. bills/invoices outstanding and query's/disputes - otherwise known as bad news, we were able to track the customers as they initially hit the clients business and monitor their own adventure and experiences.<br />
<br />
With credit/revenue management we all often see the symptoms of illness on the surface, the repetitive cough or the rash! Debtor days and write offs are signs of the illness, they are often symptoms of something far more serious. In our profession we tend to help clients manage the symptoms, make it less painful and slowly track back to identify root causes of issues. Then the project and our work really begins as we start to re-engineer the process. One of our corporate clients, First Utility is an excellent example of a forward thinking corporate reviewing, changing, implementing and improving - Herbert Smith Freehills take the process further with us. For both organisations the ultimate goal is to achieve the highest levels of financial health possible.<br />
<br />
Capturing the client at the front end of the business and tracking them through the bill to cash cycle enables us to monitor signs of health and as soon as one of their customers/clients signs the slightest chance of a negative symptom NEXUM acts.<br />
<br />
Good credit/ revenue management is about helping the 'business' take on and continually develop customers/clients that offer the highest levels of financial health to the business. Financial health is not just about the money as it points to the quality of the relationship and the product/service supplied.<br />
<br />
A healthy business is one that delivers a high value, quality service to customers/clients that are able and willing to pay because they feel that they have received value and are satisfied.<br />
<br />
One of current projects involves working with a client on a range of issues, on the face of it they are burdened by them and were initially reluctant to implement a solution like NEXUM as they felt they never had the capacity or the energy to do so. The simple solution from us was to create a battle plan tackling individual areas with a quick fix to rapidly repair an area of the business then move on to the next...<br />
<br />
Credit and revenue management is changing at a dramatic pace, we are fast becoming financial medics to our clients and no longer cleaners mopping up the mess!<br />
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<br />Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-30776362043088057502012-11-12T07:37:00.001-08:002012-11-12T07:37:34.924-08:00RevenuePatroller V2<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-dmf66h0vxMI/UKEVvDh4HmI/AAAAAAAAABU/RfJzaP6WUh8/s1600/patrollerV2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://2.bp.blogspot.com/-dmf66h0vxMI/UKEVvDh4HmI/AAAAAAAAABU/RfJzaP6WUh8/s320/patrollerV2.jpg" width="250" /></a></div>
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Version 1 of the RevenuePatroller was amazing, Version 2 is scheduled for a year end release and turns the table upside down in terms of our Mobility=Agility strategy. </div>
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The key to reducing lock-up and managing WIP is intelligence and foresight. Hindsight would be a great ability to have, foresight even better! Version 2 of the RevenuePatroller incorporates a range of new features aimed at giving your firm a Revenuetion Crystal Ball. </div>
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We will also be launching our PPEP challenge in the New Year!</div>
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More news to follow. Viva La Revenuetion!</div>
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<br />Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-53105056654315402782012-11-10T06:55:00.001-08:002012-11-10T07:09:07.231-08:00But you have already had revolutions now its time for a Revenuetion!Date: Last week<br />
<div>
Location: Large UK City</div>
<div>
Meeting with: Large UK Firm</div>
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In Attendance: CFO, COO, CIO plus supporting managers</div>
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Purpose: Present the Revenuetion</div>
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Meeting Notes:</div>
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I am always impressed by the amount of effort and funding invested in turning one of these top firms reception areas into an inspirational and impressive environment. Great feeling waiting for an extra 15 minutes looking out over a vast skyline. </div>
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First meetings are never awkward, in fact I thrive on them. Within the first few minutes I try and work out the personalities then as the minute develops make a real effort to gather information about what is important to them. It is 'them' that is important. </div>
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Within 30 minutes of the meeting I had a great feel for the issues and the opportunity. They were certainly impressed by our approach and what we could deliver; then 'brick wall'. </div>
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"The trouble is we invested a large amount of money three years ago in XXXX and on top of that we have no IT resource till next July due to other projects" commented the COO.</div>
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"What are the other projects consuming your IT resources for nearly a year" I asked</div>
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"The other projects are really not your concern" added the CIO</div>
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"You are right, I apologise for asking. But you should not be concerned you should be in a state of panic" I added.</div>
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"What!?" interrupted one of the managers, who clearly saw an opportunity to demolish and slaughter a supplier in the presence of his masters. Interestingly the CFO remained silent all the way through. </div>
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"I apologise, I do not what to be confrontational and there is no intention to be. I am often amazed why sometimes these initial meetings can be so prickly, but I recognise my unconventional approach can cause friction. My point is I have looked at your financials, which are public domain. Net profits are down and PPEP is stagnant, you are being overtaken. I know we can work together and save £million within the next 6 months. You assume I need a lot of IT resource so block me with the lack of availability. The reality is I need little. We know the systems you use and are not planning to replace them at all, just add bits around them. We understand the data and already integrate with them. If you leave this for a further 12 months your losses continue. What other projects do you have that can be delivered within a few months and can give you £x million back?" I do my hit or bust comment in hope it resonates. </div>
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"Bold statement from you. If correct we would need to review and prioritise projects accordingly. We have no budget in place for such a project though, that would be a big problem" said the CFO finally.</div>
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"I understand. First if I gave you £1M now and asked for £xk in return would you take it? I guess you would. Secondly we work on a model with you, you pay us when you get the benefit".</div>
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I send the NEXUM Revenuetion project team in to them in two weeks time to discuss details prior to contract. </div>
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Barriers are used by people afraid, they try to keep danger out, but their previous projects that were high cost and high resource caused a revolution. They soon dropped the barriers and were no longer afraid when they realised that were The Revenuetion - We work with you not against!</div>
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Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0tag:blogger.com,1999:blog-7693300635308633668.post-20194595402279585102012-11-06T03:40:00.000-08:002012-11-06T03:40:32.577-08:00Viva La RevenuetionThe Revenuetion is about change, no denying that. But "it is not what you do but how you do it" that matters.<br />
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Surely most organisations would relish an opportunity to reduce debtor days, write off's, operational costs and financial risk, but many make the mistake of trying to do too much too soon.<br />
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It is a wicked world with suppliers keen to satisfy sales targets, their clients then buying a load of 'stuff' that then takes an age to implement and provide a return on the investment. But there is another way. An agile way representing low risks with certainty of benefits, this is the Revenuetion way.<br />
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Simply put the Revenuetion methodology is a collaborative frame work between us and you (the client), where we identify areas of opportunity and then put in place short, direct projects to deliver small bursts of benefit within a very short period of time. To achieve this level of agility and speed to benefit we create a special forces team with you, known as the 'Revenuetionaries', consisting of our people and your people working in harmony. It is amazing and very very dynamic.<br />
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Welcome to The Revenuetion! Not a revolution, but an evolution within months!Anonymoushttp://www.blogger.com/profile/17055953192403769833noreply@blogger.com0