Informal business turnaround is a process followed if business distress is identified at an early stage and corrective action is implemented with the guidance of a registered Turnaround Practitioner.
It is referred to as being an informal process as no legal intervention is required and the business is in control of the original board.
TRS aims to maximize the value of your asset by evaluating and maximizing the following key business indicators;
Sales offering, what are you selling?
Competitiveness, what makes your offering unique to your direct and indirect competition.
Customers, what are your market segments and who is your target audience in each segment.
Profitability is your product offering generating sufficient profits for the efforts.
Evaluation and improvement production capacity & efficiency.
Evaluation and improvement of departmental Key Performance Indicators.
Evaluation and improvement of departmental business processes.
Evaluation and improvement of procurement practices.
Evaluation and improvement of debtor and creditor management policies.
Financial performance evaluation and improvement.
Evaluation and improvement of cash flow and policies.
Cash flow & budget evaluation and improvement.
Evaluation and improvement of staffing policies.
Staff competency assessments.