Final Week 8 Capstone presentation (1)
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Transcript of Final Week 8 Capstone presentation (1)
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Sifat Siddique, Siva Sompali, Phillis Pope, Joshua Roundtree, Denise Smoke
TITAN INDUSTRIES
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IntroductionFounded in 1972Headquartered in Syracuse, NY$170 million companyPackaging supply for Food, Medical & Agriculture
Employs 216
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Agenda Accounts & Finance
Financial challenges and solutions Marketing
Enhancing business IT Infrastructure
Establish new database system Human Resources
Train employees to be efficient in using the new database. Project Management
Keep the project under schedule and budget.
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Accounting & Finance
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Accounting
Problem Solution• Net Loss of $1.8
million.• High Account
Receivables of $2.6 million
• Reduce account receivables through
E-Invoicing• Avoid paying
suppliers for 30 days.
• Follow Verizon Plan.
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E-Invoicing Strategy to Reduce Account Receivables
Week 2: Auto generatedfollow up schedule
Week 1: Auto generated payment reminder
Week 3: Auto generated final notice Week 4: Email filling of
notice
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Additional Strategies to Reduce Account Receivables
Charge 15% on late fees. Run credit report check on companies before doing business.
Also ask for credit reports on current businesses.
Tighter credit policy.
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Finance
Problem Solutions
• Help IT finance EIS project.
• Help the company invest in another company.
• Retrieve money from tax on $875,000 already written off.
• Collect money through AR.
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Finance
Tax Account Receivables
Based on hypothetical 40% tax rate, amount retrievable is $525,000
Studies show that statistically by the ‘aging method’ 8% of account receivables during first 2 years are uncollectible. Thus, 96% is collectible, leading to a 2.46 million
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Long-term Investment Strategy via Due Diligence
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MARKETING
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Marketing Target: INCREASE SALES
• Build Company Image through:• Website• Social Media• Marketing Campaigns
• Hire a Marketing Strategist to:• Develop Marketing Schemes• Tackle Future Market• Train Customer Service to
respond on EIS
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CRM Model Careful planning & Project champions
throughout the companyAn incremental project rollout– users Analysis/Testing (UAT)Effective end-user trainingEmploy continuous improvement. Plan to continue tweaking and enhancing the
system.
Forbes.com http://www.forbes.com/sites/aileron/2013/05/01/why-your-small-business-needs-crm/#612727fe6e72 ZDNET: http://www.zdnet.com/article/lessons-learned-from-a-crm-success-story/
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SALES AND SUPPORT TRAINING
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https://vwo.com/blog/ecommerce-shopping-cart-abandonment/
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Social Media Marketing Campaigns
http://marketofbooks.com/marketing-online-8-types-of-internet-marketing-2/
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IT SOLUTION
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ENTERPRISE INFORMATION SYSTEM
An advanced & centralized database system enabling: Migration of old database into new database Information systems Computers People Procedures Software that stores, organizes and delivers information System in each functional area share the data
IT Solution
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CONSUMER BACED WEBSITE TOIMPROVE SALES
User-friendly Portal For Customers Live-chat Accounts Information Customer service via Email Dynamic messages via Pop-ups Payment History Order Status E-Shopping Cart
IT Solution
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IMPROVE MARKETING THROUGH IMPLEMENTING CRM
For Employees : Process orders Track payment records Input sales information Track inventory Schedule & payment VoIP for remote access
IT Solution
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EIS SYSTEMIMPROVE HUMAN RESOURCES
Train the employees to efficiently use the new databaseTrack productivity, schedule and payment of employeesMaintain employee background informationPrepare Payrolls
IT Solution
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EIS SYSTEMIMPROVE BUSINESS-ACCOUNTING&FINANCE
E-invoicing : Automatic sending of Payment remainders to
customers Help management track dues Help business manage customer credit accounts Saves time & money No Human error & loss of data Run Credit check on company background
IT Solution
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DURATION & TOTAL BUDGET
Duration 6-8 monthsEstimated Budget = $530k
IT Solution
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Human Resources
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Budget Information
Two Trainers $ 80,000VP of Human Resources – Pending $ 78,000 IT Director $100,000VP of Sales/Marketing $ 90,000Training Program $ 75,000Total for Human Resources $423,000
Human Resources
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Primary Focus
Train of employees to learn the new database system.
Have employees sign a non-compete clause prior to training.
Improve health benefits by changing the health plan.
Wage increase plan over a ten year period.
Human Resources
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Columbus Syracuse
7.989.98.78
10.8910.112.5211.62
14.413.16
16.5616.03
19.87
Wage Plan
1st Yr 10% 2nd Yr 10% 3rd Yr 15%4th Yr 15% 5th Yr 15% 10th Yr 20%
Human Resources
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Primary Focus
Drug and alcohol testing prior to hiring.Train former inmates, 2 Quality Control Mgrs. per
shift, and certain factory workers to move to areas that use computers.
Work with employees wanting to move to other departments.
Human Resources
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Project Management
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Project Management
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2016 2016
Today
Feb Mar Apr May Jun Jul Aug
Project Kickoff
3/1/2016
Introduce IT Director (Ongoing) 3/8/2016
Build New Website
3/8/2016
Implement EIS3/8/2016
Remote Office Vehicles
3/8/2016
Introduce Training Program 4/14/2016
3/8/2016 - 9/8/2016Build New Website
3/8/2016 - 9/8/2016Implement EIS
3/8/2016 - 9/8/2016Remote Office Vehicles
3/8/2016New IT Director (Ongoing)
4/14/2016Implement New Training Program (Ongoing)
Project Management
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HRTraining Program
High ImpactHigh Probability
ITConsumer Based
WebsiteHigh Impact
Medium Probability
Marketing Social MediaLow Impact
Medium Probability
ITRemote Vehicle Office
Low Impact Low Probability
Risk Matrix
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Solutions Non-Compete Agreement (1yr) Secured Server and Firewall Social Media Sites That Can Help Build Clientele (LinkedIn,
Networking For Professionals, and Data.com) Provide Remote Office Vehicles with Backups.
Project Management
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SUMMARY
Increase Revenue through: AR collection in AccountingSales Schemes in MarketingNew EIS database in ITEmployee performance in HRBudgeted and timed project in PM