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:
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.