Printing Industries of America's Center for Print Economics and Management has developed a way for printers to assess their strengths and weaknesses and to obtain an action plan to improve their bottom-line performance. The key features of the new Financial Performance Assessment include:
- A detailed comparison and analysis of the printer's key performance metrics with profit-leading firms that are similar in size, business models, and printing processes
- A comprehensive variance analysis examining the underlying reasons for performance issues
- An action plan with recommendations for specific strategic management practices and operational improvements, such as lowering costs, saving resources, changing prices, and other actions to stop losses and increase sales and profits
- Findings that are presented in both a detailed report to management and a web-based presentation to the printer's management team
- On-going assistance and consultation as needed to help in implementation of the action plan
The research and analysis are conducted by Dr. Ron Davis, Senior Vice President and Chief Economist with over 28 years' experience in financial analysis in the printing industry, and Tai McNaughton, Economist at PIA.
To participate in an assessment, companies need only complete a confidential questionnaire on their current financials. The assessment report is delivered within three weeks. According to Dr. Davis, "This new Financial Performance Assessment is a quick, affordable, and useful way for printers to promptly determine their strengths and weaknesses and get a template for improved performance." Davis further states that "the average difference between a profit leading printer and non-profit leading printers is around 10 percent of sales or $100,000 per million dollars in annual sales. The Financial Performance Assessment can help printers bridge this gap and pay for itself many times over."
Affordable pricing plans are structured based on the size of your company. For more information or to schedule a Financial Performance Assessment contact the Center for Print Economics and Management at economics [at] printing.org.