AVN Performance Measurement and Improvement System
We have worked with hundreds of other leading accountants across the UK to produce an 8-step best-practice process. Modelled on the most successful businesses in the UK, and co-developed with them.
- Decide what you want to achieve in the year - i.e. take your goals and plans and turn them into forecasts and budgets.
- Measure how well you actually perform each month - using a combination of traditional management accounting information and other key performance indicators, so that you have your finger on the pulse of everything that matters. Then use that information to fine-tune your action plan.
- Measure your full years performance - by producing full financial accounts at the end of the year, as required by law.
- Evaluate your performance by comparing to previous years - so that the underlying trends are crystal clear.
- Evaluate your performance by comparing it to the rest of your industry - using benchmarking to identify your strengths and weaknesses.
- Estimate how much your business is worth - so that you can assess how well you are creating value for the business owners.
- Calculate how much more profitable and valuable your business could be - use everything you have learned about your own performance and the performance of others to estimate how much more successful your business could be.
- Develop a performance improvement plan - i.e. an action plan setting out precisely what you are going to do to improve your performance.
The end result of this process is a one-page-plan for your business.
