Business Analytics - Client Engagement

RACI Business Analytics for Business health and client Engagement

Client Engagement:

 youtube please watch this 3min explainer

Many professionals find the initial engagement process with a prospective client difficult, as many clients expect more than just to be told you can solve their problems they need to be shown “the How”.

RACI Change Manager has the engagement tools to shift the focus from just a conversation to a practical demonstration of why the Client must engage you. RACI Change Manager works across PC, Tablet and smartphone, ensuring your engagement partner is always by your side and ready.

 

RACI business health analytics can be demonstrated over a coffee or on a big screen projector in front of an executive team. 

business-analytic-1  Click here for detail RACI business health Key Success Factor Chart and color codes.

Business Analytics being built around key business risk and value drivers similar to those used by financial institutions to value organisations provides a solid base to increase the value of an organisation and level of business health by providing indicators where the shift from poor performing to performing well can substantially increase business value and efficiency 

Test RACI business health on your own business the insights provided will amaze you.

I have worked with Accountants, Business advisors, Business Coaches and the common issue many of us face in engaging with a new or existing client is trying to say exactly how we are going to assist them in improving their business.

 A client wants to know that you understand their business and you have a strategy to assist them through the RACI business health improvement process. If they believe you are flying blind the engagement will be short lived. 

Also see RACI business health and business analytics explained

 youtube

 

Key Success Factor overview 

The RACI business health below this example chart you will find detail of color code meaning relating to each of the 10 Key Success Factors

 success-charts

1. Industry

ba-1 – Business operates in a well-established and stable industry
Areas for improvement will exist in the subcategories indicating red or yellow
ba-3 – There may be underlying issues that can be addressed through a RACI business health and strategic review and actions to minimise impact of industry restructuring, negative global trends and future industry trends that may positively or negatively impact future business profitability and growth.
Areas for improvement will exist in the INDUSTRY subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure industry risk is minimised
Areas for improvement will exist in the INDUSTRY subcategories indicating red or yellow.
Strategies should be implemented to minimise risks associated with each red area of the business.


 2. Business performance

ba-1 – Indicates the business has been performing well.
Areas for improvement will exist in the subcategories indicating red or yellow
Setting and monitoring of KPIs to match business goals may further increase performance.
Use the RACI charting tool to minimise duplication and increase efficiency within the business.
ba-3 – There may be underlying issues that can be addressed by reviewing each underperforming subcategory.
Setting and monitoring of KPIs to match business goals may further increase performance.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure business performance is maximised.
Setting and monitoring of KPIs to match business goals may further increase performance.
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas is essential.


 3. Business Growth


ba-1 – Indicates the business has growth potential and this area of the business is performing well.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-3 – There may be underlying issues that can be addressed by reviewing each underperforming subcategory.
Having a formal strategic plan in place with a vision and goals is essential for a business to obtain maximum growth potential.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure future business growth is maximised.
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas through the RACI business health model is essential.


 4. Business Risk


ba-1 – Indicates the business is managing risk.
Areas for improvement will exist in the subcategories indicating red or yellow
Monitoring of key risk areas is an important part of managing risk
ba-3 – There may be underlying issues that can be addressed by reviewing each underperforming subcategory.
Setting up a risk committee to assist in the management of risk across the business can ensure risk is minimised.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure business risk is minimised.
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas is essential.


 5. Competition

ba-1 – Indicates the business is managing its risk in relation to its competitors.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-3 – A strategy to improve your position against your competitors will improve your overall position and in turn your customer retention and profitability.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure you remain competitive in the market. 
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas is essential.


 6. Management Information Systems


ba-1 – Indicates the business has a quality system in place or is working toward the same.
Areas for improvement will exist in the subcategories indicating red or yellow
Working towards continual improvement through a RACI business health systems approach will increase business efficiency and profitability.
ba-3 – There may be underlying issues that can be addressed by reviewing and putting in place strategies and actions to improve underperforming subcategory.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure management has its finger on the pulse of the business.
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas is essential.


 7. Owners


ba-1 – Indicates the business is not over reliant on the owners or their presence within the business. When looking to sell a business this is a healthy position as it provides a level of comfort to incoming owners that the business will not be overly impacted by the departing of the incumbents.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-3 – There may be underlying issues that can be addressed through the RACI business health model, reviewing the management structure and ensuring business critical management tasks are being managed at the right levels. RACI charting is a great way to ensure this.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure owner reliance is minimised where it has a negative impact on the business performance.
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas is essential.


 8. Customers and Market Demand


ba-1 – Indicates the business manages customer risk by not relying on only a few customers to generate most of its income. By ensuring customer revenue is spread over a larger number of customers minimises risk to the business should a major customer cease purchasing from you.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-3 – You may be rely on only a few customers for most of your revenue the risk associated with this can be reduced by growing your customer base and ensuring you do not have to many eggs in one basket.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure revenue risk through key customer reliance is understood and reduced. If you are overly reliant on a few customers they also have greater power to enforce price reductions seriously impacting business profitability and value.
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas is essential.


 9. Staff


ba-1 – Indicates you manage staff well and have systems in place to ensure staff are not looking elsewhere for employment opportunities.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-3 – There may be areas relating to Employee engagement you are not currently aware of or paying attention too.
Forbes reports show that at any time up to 70% of your employees may not be satisfied with their current position and looking for other opportunities.
Areas for improvement will exist in the subcategories indicating red or yellow
ba-2 – Urgent attention is required to ensure staff retention and loss of key staff is minimised.
Urgent analysis of subcategories indicating red and implementation of actions to improve these areas is essential.


 10. Succession and Estate planning


ba-1 – Indicates you have planned for the future. Succession is important and planning well ahead is critical.
Areas for thought and implementation will exist in the subcategories indicating red or yellow
ba-3 – Success planning may not be on your radar at this time.
Areas to address or at least think about will exist in the subcategories indicating red or yellow
ba-2 – Attention is required to ensure you have an understanding of what succession means.
Our recommendation is that you seek advice from a succession planner to obtain an understanding of what the future will bring.


 Summary

The 10 KEY Success Indicators do provide a position of a business relating to business value, risk and business potential.
Try the RACI business health and Business Analytics tool on several businesses and compare the results.

The RACI business health Change Manager platform has been built to provide its users with business improvement tools and strategies. 

 Contact us today to find out more about the RACI model for business health.

 

 

 

RACI Change Manager

The RACI Platform is an enabler for business and the tools hosted on the platform are a valuable resource for companies looking to improve business efficiency, employee engagement and an overall lift in profitability.

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