Where The Rubber Meets The Road - 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
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SECTION: On The Numbers

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Where The Rubber Meets The Road

Written By: GARRY BARTECKI

Article Date: 04-02-2007
Copyright(C) 2008 Associated Equipment Distributors. All Rights Reserved.


Business is coming at you faster than ever; are you ready?

I get to participate in many of the AED and The AED Foundation educational programs, seminars, and events, and I love every minute of it. When you think about it, AED has the ability to supply knowledge to every employee in your dealership, from the CEO to the last employee hired. Properly using AED's tools provides you with a well-trained employee population who are aware of how they impact your bottom line. For example, every issue of Construction Equipment Distribution magazine offers ways to improve sales, margins or net profit and cash flow. For those of you who don't usually read this magazine, I recommend you read the next couple of issues and you'll see what I mean.

Membership in AED allows access to AED Preferred Providers, as well. When AED dealer members expressed frustration with high credit card fees and related expenses, AED contracted with RBS Lynk/Charter One to become an AED Preferred Provider. As such, the company provides members competitive credit card processing. Members who participate in this service will, in effect, establish a monthly annuity for themselves.

Some of the materials AED provides are most valuable if you participate in an AED survey. For example, if you participate in the Cost of Doing Business Survey (CODB), you get a free copy of the report, as well as an individual report specifically for your company. If you haven't seen an individual report, you don't know what you're missing.

And now, as an offshoot of the CODB, AED is offering a monthly Key Performance Index report in a dashboard format at a nominal fee to help you keep track of your financials throughout the year. If you participate in the CODB, you can easily roll right into the monthly program.

To participate in the CODB and Key Performance Index programs all you need is a working trial balance in Excel format. If you can't provide a working trial balance in Excel format, call AED's Bill Hermanek at 630-574-0650 ext. 329 and he'll walk you or your CFO through the conversion to Excel from your business software.

He'll also have your trial balance mapped against the CODB survey free of charge. And once your trial balance is mapped, you can submit your data for the CODB or the monthly Key Performance Index reports simply by sending us your Excel file.

We can't make it any simpler than that!

You all know that business happens much faster today than it did 10 years ago, five years ago, and even two years ago. Business leaders today have to gather information and react faster than ever before. CEOs can't afford to wait three months to find out what happened; they need current information to avoid being left behind. Getting monthly activity closed as quickly as possible has to be a top priority. Reaching conclusions based on what the results are telling you is also important. AED's Key Performance Index reports can help.

Management information, data, training and other profit enhancing services and tools are available to every AED member willing to participate. No matter what size your company is the benefits are the same. Participate in the 2007 CODB; I guarantee you'll be impressed with the value of the report to your own business.

Complete the CODB survey today or contact the AED staff to complete it for you. You won't regret it.



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Article Categories:  Financial