We are excited to announce that UHY Advisors has launched a monthly radio program, Cause & Affect, broadcasting via Business Radio X out of Atlanta. Each month, the show will highlight difficult challenges companies are facing in running and growing their business, and offer insights from UHY executives and guests from Atlanta’s most innovative businesses on how to overcome them.
To begin the series, we brought in-studio all of Atlanta’s UHY Advisors leadership team: David Barton, Cindy Hannafey, Brad Baer, Amy Gallagher and myself. One of the first topics we addressed is achieving and maintaining a company’s operational efficiency. To do this, instead of traditional “best practices,” at UHY we implement “leading practices.” This is paramount to creating and sustaining productivity.
When you hear the word "best practice," it implies that once you implement it you're done. The reality, however, is that business is ever-evolving. As a company, you always want to be in a state of “leading” practice, never stagnant.
Leading practices can organically evolve, whereas best practices are fixed and do not easily adapt. Customizing and always updating goals, expectations and metrics for your company, rather than applying standardized practices, yields a much greater sustainable efficiency and profitability.
We’ve seen this work. As a result of implementing leading practices, one large media company reduced waste by $3.6 million and working capital by $16 million. A manufacturing company saved more than $1.6 million in savings identified from the elimination of non-value added activities. An insurance company reduced its technology spend by more than 30 percent through self-serve and automation solutions.
Each month on Cause & Affect, the UHY team will focus on a different subject area– always focusing on improving your company’s productivity and bottom line. Our team will lend their expertise and impart their insights, bringing to the discussion other leaders from the business community to share their own experiences and wisdom on the topic. Our goal is to bring business leaders together, discuss issues that are relevant and meaningful, and bring real world experiences to the table.
The UHY team leading the discussions each month includes:
- Managing Director David Barton, who heads up the Internal Audit Risk and Compliance Practice at UHY. You’ll hear a lot from him about cyber security and managing IT risk, including where companies are vulnerable and ways to protect themselves against this risk.
- Managing Director Cindy Hannafey is responsible for three service lines: project management, digital transformation, and enterprise optimization, which is our form of Lean Six Sigma process improvement. Much of her efforts focus on helping companies successfully manage through change.
- Managing Director Brad Baer heads up our Accounting Automation Practice. His goal is to help CFOs bring automation technology efficiency to their teams. He leads the charge in helping companies transform their finance and accounting departments, and ensuring performance management metrics are part of the process.
- Principal Amy Gallagher leads the firm’s Resource Solutions Group. She works with clients to help them find variable resources and direct hires in finance and consulting roles. When companies are going through a change of some type such as a merger or period of growth, they typically need additional resources – sometimes short-term, sometimes long-term. The overall success of these company changes and transitions is directly related to how well the company manages its workforce to support them.
- As Managing Director of the UHY Atlanta office, the insights I’ll be sharing on the show will focus on finance transformation, optimizing a company’s business processes, reducing and eliminating non-value activities, and ensuring business efficiencies are sustainable for the long-term.
I hope you’ll take a few minutes to listen to our first show. We encourage you to check back here for insights from our monthly show. Our next show will focus on cyber security, and the discussion will be led by David Barton.