Companies are focused on execution of key business objectives: building the team, product development, and market penetration. Although seemingly uncomplicated in the early days, companies often overlook the importance of establishing the general and administrative infrastructure necessary to prepare the company for revenue generation, employee base expansion, and potentially significant business transactions (mergers, acquisitions, IPO).
Often management attempts to handle many of these functions themselves, which diverts focus from key business objectives. Alternatively, management sometimes delegates these functions to office personnel, which can result in costly mistakes because of lack of expertise and experience in these areas. Establishing the underlying infrastructure to provide the backbone for future company growth is most cost-effectively handled by seasoned professionals who have not only provided like services to many other companies similarly situated, but also have established key vendor relationships which are continually tested and re-qualified.
Sometimes management opts for a perceived less expensive solution and hires an individual who has put out their shingle as a part-time “professional consultant.” Often, this person is actually seeking full-time work and will disappear right before your Board meeting. Single consultants invariably perform tasks that are beneath their level of expertise (thus overcharging the client), and are limited by their individual experience level. With over 40 employees, Ravix provides professionals at every level of expertise to meet client needs who will stay with the client until they are ready to hire full-time people.
In addition to experience with multiple companies and industries, Ravix consultants leverage the extensive knowledge of the Company and our employees through access to our client management system and knowledge database, called clientcentral. This online tool tracks essential client data and key vendors in one place for easy access, and contains detailed task lists used in the management of each client to ensure consistent and timely service. clientcentral’s Library includes real-time information on the latest market and industry trends, productivity tools, models, and sample policies and procedures.
Periodically, Ravix Group prepares benchmarking reports with the help of and for exclusive use by our clients. During 2011, Ravix published a comprehensive Compensation survey, which includes incentive compensation and stock ownership at every employment level. Upcoming surveys are planned for Financial Metrics and Compensation.