Success Story: How Clockwork helped GeneralCents Accounting increase their client's bottom line
Increasing your bottom line with financial planning
An interview with John Koloch, Founder at GeneralCents Accounting
Problem: Client was lacking financial clarity
John had been advising his client, a custom metal design and fabrication business, helping to monitor and improve their finances. The owner was sharp, but because they didn’t have a strong finance/accounting background, John struggled to get them to see what he was seeing in the numbers.
Solution: Introducing Clockwork
John decided it was time to introduce Clockwork, so he connected the client’s accounting system, and sent a short video where he walked through their financial performance and projections in Clockwork to highlight what he was seeing.
The client’s biggest expense was payroll, so John first drilled into the team’s impact on the company financials. While most employees were over-performing, there were a few who were clearly not meeting the standard. It was hurting the client’s bottom line (and company morale) in a big way.
John also showed the client a scenario to illustrate the impact of a small pricing change they’d been considering, and how this change, along with a team reorganization, would drastically improve the client’s cash flow and overall financial health.
They’d gone over it countless times before, but as soon as the client saw it come to life in Clockwork, he immediately texted John at 6:00 AM saying, “Oh my god, this makes total sense now. That was [expletive] awesome! I’m going to take care of this today.”
Outcome: $180,000 annual revenue increase + $85,000 annual cost savings
With just a $15 change to the price of their services, the client was able to increase their annual revenue by $180,000.
Changing the team structure was also a huge win. Not only did the client see increased morale and productivity across the company, but they were also able to save an additional $85,000 per-year by cutting the dead weight.
..and that was just the immediate impact. Clockwork is now an integral part of every single discussion - not just with this particular client, but with every client at GeneralCents.
In John’s words:
“We use a lot of tools in our practice, and this is the coolest one for sure. With Clockwork we can teach clients to speak the language of business. We sit down and look at the graphs, and then we can start talking about why it looks that way...You immediately see when there’s a problem a few weeks out, and you can actually do something about it now. You don’t have to be a genius...it’s super easy to use. I can’t recommend this enough!”
It takes less than a minute to get a Clockwork account set up, and all of your financial projections, cash flow forecasts, performance insights, and other powerful tools are automatically ready to go from the moment you connect.
It’s not magic - it’s machine learning - and not only will it save you buckets of time, but it'll also give you a level of accuracy and clarity that you simply can’t find anywhere else!
To learn more about how Clockwork helps small businesses realize and work towards a better financial future, create your account to start a free 14-day trial (no credit card required). Connect your QuickBooks Online or Xero account to create your first financial model in minutes.
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