ESKEEN OFF TO A GOOD START WITH NEW SELLING MODEL
After a full quarter of the roll out of Eskeen’s new selling model, JS financial numbers have out-performed all of 8 years’ previous quarters. The new model – re-structuring the sales force, re-designing its compensation package and re-tooling the mix of the mediums by which customers are reached – was launched in July 1. From revenue to cash flow, Eskeen’s balance sheet and income statement have never look better before this new model.
Sales records have been broken with the Jul-Sep quarter registering the highest quarter sales record in its history. The JS quarter this year was a whopping 48% higher than last year’s. The month of September recorded the highest month turnover (outside of the historically high November) since the company started. If trends firm up, the company is well on its way to breaching the Php 40M annual sales.
Net Before Taxes
Eskeen also recorded the highest month – outside of November – profit-before-taxes in July with the Jul-Sep quarter profits expected to crush all other quarters preceding the new model. After-taxes profit at the end of the year will breach the twin-digit percentage for the first time in its 9-year history.
As a result of better AR management, more customer contact and compensation-tied-to-collections, cash flow has improved tremendously with cash—to-cash cycle expected to be reduced by twin-digit days.
Apart from the improvement in overall financial health, the new selling model has impacted sales and staff morale in no small measure. The re-structuring, along with people movements, has resulted in improved numbers in almost all performance metrics. And with the cost-per-man increasing significantly, the positive impact on revenue and collection numbers proves that profits will follow when limited cash is utilized the correct way.