Are Your Business Systems Working for You?

Here’s what we did for one client to streamline their processes and maximise their profits…

Here at Square Penny, we pride ourselves on our ability to look at the big picture for our clients. Regardless of the industry they specialise in, our clients tend to have similar starting points when it comes to the challenges they face. Most challenges can be sorted into one of three categories: business systems, financial management and communication. Our client in the construction industry came to us ready to understand how they could improve the profitability of their business without cutting corners, or overwhelming their staff to achieve it. Lucky for them, optimising business processes is at the heart of what we do. Here’s how we helped…

Part One: ‘Before Square Penny’

When we first met our client from the construction and design space, they were struggling. They had a number of projects running concurrently, were operating with 15 staff, and had just implemented new business systems to help them manage project reporting.

While embracing modern business systems is an essential part of the process for running any business, many business owners neglect to consult the experts first. What happens as a result is that uptake of these new tools may be possible, but not optimal. Without an expert to hand to guide our clients in how to get the most of the business systems they were paying for, they were missing out on vital functions that would greatly impact the way they managed their projects.

Budgets were being set, but weren’t being tracked effectively. Neither was time. This meant that reporting was showing they were meeting budgets but when true labour costs were factored in, the profit margin on jobs was in many cases severely eroded.

Without the full picture to hand, our client couldn’t possibly make informed decisions on the best business practices. For instance, they were purchasing materials from a number of suppliers who supplied the same product, but for different projects. Something as simple as this oversight meant that any synergies or beneficial purchasing discounts were lost. Incomplete financial records meant they were making decisions about current and future projects blindly, repeating past mistakes rather than proactively addressing and preventing them going forward.

Part Two: The Investigation and Implementation Phase

With immediate effect, we got to work auditing our clients’ existing business systems and practices to get a clear idea of which ‘improvement levers’ to pull. The result of the audit was a simple four-step solution:

1. Process development: We worked with our client to establish clear processes around project management, project costing, time tracking, vendor selection and approval 

2. Data Analysis: We analysed the reporting available on both open and closed jobs and assessed it against what project managers believed/knew to be the case. Through this process, we identified the areas that needed refinement

3. Process Refinement: We tidied up the existing business systems by closing out old or completed jobs. We then assisted in rolling out the new, realigned processes

4. Improve staff competency: We provided support to our client and the team to fully optimise the usage of their existing business systems

Part Two: The Outcome

It helps to have an outsider’s perspective when looking at the overall business systems you’re operating under. For us, optimising our clients’ operations was straightforward, and highly effective. The transformation to their performance was immediate. Transitioning from making decisions with incomplete information, to now running an efficient project management process has completely transformed the overall performance of our client’s business. They no longer struggle to identify project management problem areas, have reduced cost overruns and proactive approach their business practices. Overall, our time in collaboration with this client has been hugely successful.

If you’re ready to proactively get your business thriving, just like our client did, now’s the time. Our friendly business systems experts are here to support your transition to a tailored, highly efficient, profit-conscious approach. To get started, simply call 1300 472 412 to speak with one of our friendly team and move your business forward faster today.

Celebrate another Square Penny milestone with us!

This month marks our 15th business birthday. It’s been a thrilling adventure to now, and we wouldn’t be where we are today without the unwavering support and vision of our founder, Damian Scodella. We thought it would be fitting to catch up with him for this huge moment in Square Penny history, and share his reflections on the last 15 years…

When did your Square Penny visioncome to life?

The idea of Square Penny had been cooking away in my brain for quite some time. It wasn’t until 2008 that everything came together to form the makings of the flourishing financial management firm you know today.

What was the thinking behind it? Why Square Penny and not something else?

Square Penny was started because of my passion for solving the problems that all businesses experience. I also believed that the corporate environment didn’t understand its workforce, or how to best embrace the talents of working mums. I realised that these incredible women were being underutilised; I saw mums who had a huge set of skills they wanted to keep using and refining, all while supporting their thriving families. The amount these women juggle, but somehow make it all seem effortless made it clear I needed them on my team!

To date, what have been Square Penny’s greatest achievements?

Thankfully, it’s a long list I can draw from! In the 15 years we’ve been operating, we’ve enjoyed continued growth whilst providing more than 50 women the opportunity to truly run their family around their work, not the other way around. Running this business hasn’t been without its low points, of course. In 2018, we parted ways with our largest client. It was the right decision in the moment, but it’s quite an unsettling experience, not knowing what’s around the corner. The good news is that we’ve gone from strength to strength ever since. In 2019 we created the Executive Team, 2021 we brought in the External Advisory Board and appointed the remarkable Trish Catlin as our CEO, and this year, I’m so proud to say we’ve achieved our 5-year plan.

What makes Square Penny unique in the financial management space?

We are process driven, passionate about what we do and we care about our customers. I believe this is what our reputation is founded on. We are respected by our colleagues and peers, and our uncompromising commitment to doing, everything we can do to help SMEs thrive is widely known.

How has Square Penny evolved over the years?

Since our establishment in 2009, we’ve grown so much. From one office here in Melbourne, we’ve expanded our workforce to cover three Australian states and also offshore in the Philippines. Our clients needs are more sophisticated than ever, and demand a higher level of service. To accommodate that, we changed our model so that each client would have more than just the one staff member on their file. I also stepped out of the direct running of the business and handed complete operational control over to the CEO and Executive Leadership Team. It’s been a freeing and exhilarating time to watch Square Penny flourish!

You mentioned you’ve achieved your 5-year plan. What’s next for Square Penny?

Interestingly enough, we’ve embarked upon achieving our next 5-year strategy. This time, it’s one that doesn’t include me leading the way. We have an exceptional team, led by our CEO Trish Catlin, and I know Square Penny will continue to thrive under her leadership. I want to demonstrate to other business owners that it’s possible to set up and grow a successful business, and have it run smoothly, even in your absence. You just need the right people around you to carry the vision forward.

If you’d like to join the growing number of business owners using our forward-focused, highly skilled team to get your business running like clockwork, or you’d simply like to wish us well on our birthday… Call 1300 472 412 and let us share the Square Penny way with you.

Celebrate another Square Penny milestone with us!

This month marks our 15th business birthday. It’s been a thrilling adventure to now, and we wouldn’t be where we are today without the unwavering support and vision of our founder, Damian Scodella. We thought it would be fitting to catch up with him for this huge moment in Square Penny history, and share his reflections on the last 15 years…

When did your Square Penny visioncome to life?

The idea of Square Penny had been cooking away in my brain for quite some time. It wasn’t until 2008 that everything came together to form the makings of the flourishing financial management firm you know today.

What was the thinking behind it? Why Square Penny and not something else?

Square Penny was started because of my passion for solving the problems that all businesses experience. I also believed that the corporate environment didn’t understand its workforce, or how to best embrace the talents of working mums. I realised that these incredible women were being underutilised; I saw mums who had a huge set of skills they wanted to keep using and refining, all while supporting their thriving families. The amount these women juggle, but somehow make it all seem effortless made it clear I needed them on my team!

To date, what have been Square Penny’s greatest achievements?

Thankfully, it’s a long list I can draw from! In the 15 years we’ve been operating, we’ve enjoyed continued growth whilst providing more than 50 women the opportunity to truly run their family around their work, not the other way around. Running this business hasn’t been without its low points, of course. In 2018, we parted ways with our largest client. It was the right decision in the moment, but it’s quite an unsettling experience, not knowing what’s around the corner. The good news is that we’ve gone from strength to strength ever since. In 2019 we created the Executive Team, 2021 we brought in the External Advisory Board and appointed the remarkable Trish Catlin as our CEO, and this year, I’m so proud to say we’ve achieved our 5-year plan.

What makes Square Penny unique in the financial management space?

We are process driven, passionate about what we do and we care about our customers. I believe this is what our reputation is founded on. We are respected by our colleagues and peers, and our uncompromising commitment to doing, everything we can do to help SMEs thrive is widely known.

How has Square Penny evolved over the years?

Since our establishment in 2009, we’ve grown so much. From one office here in Melbourne, we’ve expanded our workforce to cover three Australian states and also offshore in the Philippines. Our clients needs are more sophisticated than ever, and demand a higher level of service. To accommodate that, we changed our model so that each client would have more than just the one staff member on their file. I also stepped out of the direct running of the business and handed complete operational control over to the CEO and Executive Leadership Team. It’s been a freeing and exhilarating time to watch Square Penny flourish!

You mentioned you’ve achieved your 5-year plan. What’s next for Square Penny?

Interestingly enough, we’ve embarked upon achieving our next 5-year strategy. This time, it’s one that doesn’t include me leading the way. We have an exceptional team, led by our CEO Trish Catlin, and I know Square Penny will continue to thrive under her leadership. I want to demonstrate to other business owners that it’s possible to set up and grow a successful business, and have it run smoothly, even in your absence. You just need the right people around you to carry the vision forward.

If you’d like to join the growing number of business owners using our forward-focused, highly skilled team to get your business running like clockwork, or you’d simply like to wish us well on our birthday… Call 1300 472 412 and let us share the Square Penny way with you.

Celebrate another Square Penny milestone with us!

This month marks our 15th business birthday. It’s been a thrilling adventure to now, and we wouldn’t be where we are today without the unwavering support and vision of our founder, Damian Scodella. We thought it would be fitting to catch up with him for this huge moment in Square Penny history, and share his reflections on the last 15 years…

When did your Square Penny visioncome to life?

The idea of Square Penny had been cooking away in my brain for quite some time. It wasn’t until 2008 that everything came together to form the makings of the flourishing financial management firm you know today.

What was the thinking behind it? Why Square Penny and not something else?

Square Penny was started because of my passion for solving the problems that all businesses experience. I also believed that the corporate environment didn’t understand its workforce, or how to best embrace the talents of working mums. I realised that these incredible women were being underutilised; I saw mums who had a huge set of skills they wanted to keep using and refining, all while supporting their thriving families. The amount these women juggle, but somehow make it all seem effortless made it clear I needed them on my team!

To date, what have been Square Penny’s greatest achievements?

Thankfully, it’s a long list I can draw from! In the 15 years we’ve been operating, we’ve enjoyed continued growth whilst providing more than 50 women the opportunity to truly run their family around their work, not the other way around. Running this business hasn’t been without its low points, of course. In 2018, we parted ways with our largest client. It was the right decision in the moment, but it’s quite an unsettling experience, not knowing what’s around the corner. The good news is that we’ve gone from strength to strength ever since. In 2019 we created the Executive Team, 2021 we brought in the External Advisory Board and appointed the remarkable Trish Catlin as our CEO, and this year, I’m so proud to say we’ve achieved our 5-year plan.

What makes Square Penny unique in the financial management space?

We are process driven, passionate about what we do and we care about our customers. I believe this is what our reputation is founded on. We are respected by our colleagues and peers, and our uncompromising commitment to doing, everything we can do to help SMEs thrive is widely known.

How has Square Penny evolved over the years?

Since our establishment in 2009, we’ve grown so much. From one office here in Melbourne, we’ve expanded our workforce to cover three Australian states and also offshore in the Philippines. Our clients needs are more sophisticated than ever, and demand a higher level of service. To accommodate that, we changed our model so that each client would have more than just the one staff member on their file. I also stepped out of the direct running of the business and handed complete operational control over to the CEO and Executive Leadership Team. It’s been a freeing and exhilarating time to watch Square Penny flourish!

You mentioned you’ve achieved your 5-year plan. What’s next for Square Penny?

Interestingly enough, we’ve embarked upon achieving our next 5-year strategy. This time, it’s one that doesn’t include me leading the way. We have an exceptional team, led by our CEO Trish Catlin, and I know Square Penny will continue to thrive under her leadership. I want to demonstrate to other business owners that it’s possible to set up and grow a successful business, and have it run smoothly, even in your absence. You just need the right people around you to carry the vision forward.

If you’d like to join the growing number of business owners using our forward-focused, highly skilled team to get your business running like clockwork, or you’d simply like to wish us well on our birthday… Call 1300 472 412 and let us share the Square Penny way with you.