Request for Data - On The Numbers
Construction Equipment Distribution magazine is published by the Associated Equipment Distributors, a nonprofit trade association founded in 1919, whose membership is primarily comprised of the leading equipment dealerships and rental companies in the U.S. and Canada. AED membership also includes equipment manufacturers and industry-service firms. CED magazine has been published continuously since 1920. Associated Equipment Distributors
Home         About Us         Media Kit         Subscribe         Previous Issues         Search Articles         Meet the Staff        AED Homepage

CED Menu

Arrow Home
Arrow About Us
Arrow Media Kit
Arrow Print Subscription
Arrow Digital Subscription
Arrow Search Articles
Arrow Meet the Staff
Arrow Trade Press Info
Arrow AEDNews



Premium Sponsor:
Infor

SECTION: On The Numbers

Questions or feedback?
Contact Kim Phelan at (800) 388-0650 ext. 340.


Request for Data

Written By: GARRY BARTECKI

Article Date: 02-01-2006
Copyright(C) 2008 Associated Equipment Distributors. All Rights Reserved.


You asked for the CODB earlier and we're going to do our best to get it to you.

If you are a dealer CEO, COO or CFO, it's time once again to take part in the AED Cost of Doing Business survey (CODB). In prior years, we've collected the survey data in July and produced the report in September. But, let's face it, by that time the data is old. After hearing from many members that they need the information sooner, we're sending the survey out earlier and hope to deliver the final project in April. Times have changed and the importance of obtaining current data is more important than ever. Management needs to know what is happening in the nation, their state and their region. The sooner they get these results the sooner they can react to maximize profit or cut costs.

To get the data to you sooner, we need to get the CODB surveys completed in a more timely fashion. We also need more participants.

CEOs and COOs: Please make it a priority to have your accounting department comply with the new survey deadline. There should be no reason this survey cannot be completed before the March deadline. I can't believe you don't have a soft close on the year-end books. If you really don't, we have another issue to deal with which needs immediate attention. Dealers need to close their books monthly by the 15th of the subsequent month.

On the CODB survey, we aren't asking for a final hard close. If we get close, that's good enough. Sure, there may be some final audit adjustments to consider, but in most cases these have been booked in some form or another with final adjustments producing only minor changes.

CFOs: Now that we're asking for the survey earlier but at the same time not requiring other than "soft close" numbers, you should be able to prepare the survey by March 15. To help you with this, if you have not done so already, AED has prepared mapping software to allow you to map the survey off your trial balance once and then be done with it unless you add or delete accounts.

The mapping software will do double-duty. We'll use it for the annual CODB survey and for a new monthly project that will allow dealers to receive up-to-date monthly KPI's (key performance indicators). The monthly data will be collected the same way the annual data is collected, through Profit Planning Group. In short, the data is completely confidential.

The monthly "dashboard" report will be a summary of the annual report with some additional data. With it, dealers will know where they stand in each department, against annual goals and compared to last year. Monthly and year-to-date results will be included. We can also customize the reports so a group of dealers can run a combined report. Think of it, real management reports from one keystroke per month.

We discussed the new monthly reports at annual convention and the response was enthusiastic. Members like the idea. We are in the process of finalizing this product. Any comments you have or suggestions for benchmarking or "dashboarding" would be very welcome. Please contact us.

This is an exciting project. It can provide meaningful information, but only if dealers map their trail balances to AED's mapping software. AED has input some beta sites and we know the software works. It will be available on AED's web site.

Sure there will be some bumps in the road. But we are committed to working through them. Help us out here and get that CODB survey completed and mapped by March 15.

Members can call AED for mapping assistance. Please call if you need help.



[ TOP ]


Article Categories:  Financial  »  Taxes