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Good diagnostics are essential for improving financial performance. Generally, a client contacts us with a specific issue in mind (i.e., "we have an incentive issue or a competitive issue…"). Our assessment process provides a structure for identifying, prioritizing and evaluating issues. Our industry experience enables us to quickly cut to the key areas and root causes.
Expert Diagnostics:
By doing an assessment, we look at the entire company with a fresh set of eyes from an objective, outsider's perspective. We always sign a confidentiality agreement up front as we request a "care" package that consists of financials, a copy of any strategic plans or initiatives, sales demographics, compensation plans and any other relevant data. This allows us to do our homework/research & analysis prior to our visit.
How an Assessment Works:
The assessment itself consists of a dinner the evening prior with key staff members. The purpose of the dinner is to discuss the scope of the assessment and to create a feeling of comfort with the process. The next day, IRCG personnel begins interviewing selected staff members privately one on one. There may be several key members that get interviewed twice by separate IRCG personnel. The experience and skill of IRCG personnel allows us to dig deep and get to the root cause of many issues that may be uncovered. It's almost like going to the doctor for an annual physical. Generally a client is showing symptoms but may not see the entire problem or understand its cause. This assessment, from an outside perspective by IRCG personnel with our depth of industry experience, usually provides clarity to all issues and causes. We believe we are paid to be honest and not nice. Consequently, we don't sugar coat the issues.
The engagement is concluded with a debriefing that includes the executive staff or the owners. A written assessment report is provided within ten days after the visit outlining the findings. The client, based on our recommendations may elect to address all the issues internally if they feel they have the expertise and depth. Indian River will also provide a proposal addressing all the issues if we feel that IRCG can provide real value to the process beyond the client capabilities.
Costs and Feedback:
We believe this provides tremendous value to the client. The cost of an assessment varies depending on several factors such as location, size and revenue stream, inclusion of personnel evaluations, and number of days, if more than one full day of interviews is required. The fees range from $4,500 to $15,000, plus travel related expenses.
IRCG has conducted assessments for distributors ranging in size from $4 million to $2 billion in revenue. Here's what we've heard as feedback:
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"Not surprisingly, IRCG really nailed the issues we knew we had to deal with and several more that escaped our radar screen." - CFO - $350 million distributor
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"Reading your assessment was like taking a punch right in the gut, but it sure opened our eyes to situations that absolutely must be resolved." - President - $7 million distributor
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"I should have done this years ago - maybe I could have circumvented some of these issues." - V.P. Sales - $4 million distributor
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Call Sandie Stewart at 321-956-8617, or email
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