Improved financial visibility results in 10% additional net operating profit

November 27, 2023

Meet Switch Audio Video & Security:

Switch, based in Homewood, Alabama, is a respected player in the custom integration industry with a simple mission: make life better. Their team, guided by core values of love, work, and rest, differentiates themselves by handling every aspect of the job, including installation, education, and ongoing customer support.

The Backstory:

Switch has been rocking the tech scene for over 15 years, with a team of 25 passionate experts. But, like any hero’s journey, challenges popped up:

  • Financial Visibility:

    A lack of comprehensive financial visibility was hindering their ability to plan for sustained growth and establish clear Key Performance Indicators (KPIs).

  • Improvement Quest:

    They wanted to level up on technology, team dynamics, and processes—think superhero training montage.

  • Benchmarking Success:

    Without industry-standard metrics, Switch found it challenging to benchmark their success against peers and industry standards.

 

Enter VITAL, The Sidekick for Success:

In swoops VITAL, armed with a unique playbook—the VITAL Method. The dedicated Success Team dove deep into Switch’s financial realm, set goals, identified gaps, and sprinkled data-driven magic.

  • Financial Health Analysis:

    VITAL conducted a thorough analysis of Switch’s financial health, identifying areas for improvement and establishing a baseline for future evaluations.

  • VITAL Method Training:

    Switch’s team underwent rigorous training in the VITAL Method, gaining insights into data-driven decision-making, goal setting, and efficient financial management, including aligning the financial system in QuickBooks.

  • Guidance & Mentorship:

    A VITAL Guide offered experienced advice in critical areas such as labor proposals, equipment costs, overhead management, business processes, and operating cost improvements, emphasizing the importance of accountability in these facets.

  • Industry Benchmarking:

    VITAL introduced industry-standard benchmarks, enabling Switch to gauge performance against peers and optimize business strategies.

 

Decode your business metrics

 

The Epic Results:

Switch Audio Video & Security doesn’t just fly—they soar!

  • Profit Surge:

    A cool 10% boost in net operating profit. Ka-ching!

  • Revenue and Margin Boost:

    Switch achieved a significant boost in revenues and top-line margin by strategically hiring rockstar sales staff, implementing effective sales and marketing practices, and enhancing top-line margin through judiciously incorporating additional labor in proposals, increasing estimated hours, and meticulous management of equipment costs.

  • Data-Driven Decisions:

    Switch now operates with a clear understanding of their financial performance, allowing for strategic planning and improved decision-making

I would absolutely recommend VITAL to really anybody who wants to improve their business.

Justin Hardy

President, Switch Audio Video & Security

The Takeaway:

Switch’s collaboration with VITAL not only resolved existing challenges but positioned the company for sustained growth. With improved financial visibility, streamlined processes, and a data-driven approach, Switch continues to thrive as a leader in the custom integration industry, driven by a heightened sense of accountability throughout their operations.

Tailored Metrics for Your Business

Ever tried comparing your success metrics with a friend’s, only to end up confused? The VITAL Method sets standard industry practices in accounting, productivity, project management, leadership, bid management, and warranty support.

In our view, business excellence involves systematic approaches, accountability, and keeping a close eye on the numbers. Wondering how to weave these practices into your business? We’ve got you covered.

Embark on Your Data-Driven Journey

Ready to make informed decisions for your custom integration business? Schedule a free 15-minute call with a VITAL Guide – your first step towards a future where your business decisions are rooted in practical data and strategic insights. Dive into the VITAL Method and transform your business today.

Stay VITAL,

Matt & the team

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