Companies interested in substantially increasing their profits are being encouraged to sign up for Invest Northern Ireland’s highly successful Profit Improvement Programme which will be run again in the autumn.
The programme, which last year produced average savings of £62,000 per company, covers all the key aspects of profit improvement such has procurement, process improvement and cost management. The upcoming course has been enhanced to provide two additional workshops on the topics of customer relationship management and management information systems.
Another new development is an advanced programme aimed at well-established companies that are looking to further refine their organisation and operations.
The Profit Improvement Programme, delivered by a private sector consortium, runs for nine months and is designed for owner managers or senior personnel. Participating companies are encouraged to be open to new thinking and to involve staff at all levels to ensure maximum benefit from the programme.
Last year 42 companies took part, with one company, Fin Engineering, achieving an annual cost saving of £160,000 as a result of improvements made to business processes such as invoicing, cost reporting and procurement processes which led to increased competitiveness.
Victor Jordan, Director of Business Improvement Services in Invest NI, says: “To date this programme has been very successful with all the participating companies reporting substantial improvements in profit as a result of taking part.
“The changes we’ve made to the programme will enable us to offer a more complete programme to our diverse client base servicing its varying organisational maturity. We’re encouraging businesses from all sectors to consider taking part in the programme, which will help them develop a cost efficiency culture and so become more profitable and more competitive. ”