Liam is a director of a growing trademark attorney firm with approximately 12 staff. The firm acts on behalf of clients to protect their intellectual property. The firm represents clients by securing their intellectual property all over the world by engaging legal firms in those countries.
Although the firm is well managed, it was clear from the Naptix sessions that a deeper emphasis was required in assessing growth using a number of financial and non-financial factors.
UNTIL SHOWED UP
Naptix refined and introduced a number of procedures to ensure that the accounting system is accurate. The procedures included instigating a job profitability system to ensure disbursement are accounted for correctly, and no tax is paid unnecessarily as a result.
Naptix also created a Management Reporting System, meeting quarterly with the Directors. We specifically monitored a handful of indicators or KPI’s.
Liam found inequity in disbursements of $50,000 with job reporting, and shareholders are now in a position to receive $500,000 in dividends without affecting the cashflow of the business.