Trends in improving modern technical services. Trends in the development of modern service Sources of property formation
The service is constantly moving towards the client. Where previously there was no service, now there are sales managers. Where it was “your call is very important for us,” now they quickly pick up the phone and call you by name. Where you had to wait for a person to answer, now they answer instantly. In this article, we will analyze in detail, with comments from different areas, the main trends in the development of the service.
First of all, we will talk about remote or online service. This is working with a client through contact centers: sales, accounting, technical support and others. In this case, service is provided by telephone, via mail, or without a personal meeting.
Where is customer service going?
People have been doing maintenance for so long that it’s hard to come up with something new. Even the fashion of the last 2-3 years for the implementation of CRM systems, communication through instant messengers and service automation is not new; these tools have existed for many years in large companies, and are now coming to the masses.
Nevertheless, it is possible to identify the main trends - different in different areas. For example, loyalty programs are being revived in the retail and restaurant business. In business with remote customer service, three main areas can be distinguished:
- Everyone is served. There are fewer and fewer companies that ignore customers, where there is no dedicated service department, the load shifts to related departments - sales, for example.
- Service personalization. In businesses where customer service is important, companies are striving to collect more data on user behavior and offer a personalized approach.
- Automation. Nobody wants routine and overpaying unnecessary employees, so companies are striving to robotize support.
1. Customer service trend: now everyone is served
Customers are accustomed to good service in cafes, hotels, shopping centers and now demand it in any area. It doesn’t matter whether you sell phone cases or transformer substations - customers will call not only to buy, but also for service. This is normal, problems begin when the company does not have dedicated service.
Typically, maintenance is transferred to the sales department if there is no dedicated technical support or call center. Qualified sellers are forced to spend time on support and sell less. And sometimes managers forget to add the relevant KPIs, and salespeople are reluctant to provide service: they respond last, forget to call back, or respond with unsubscribes.
Because of this, customers “receive less service” for services and goods already paid for: dissatisfaction accumulates, satisfaction decreases, no - this approach affects the entire business. Let's see how this problem is solved using an example.
Service needs to be built into the company’s processes, even if it is not separated into a separate area. Here are recommendations that will help in working with clients - save them to your computer.
How to transfer service to the sales department and not regret it. Case of Get8 company
2. Personalization of customer service
There are companies where customer retention plays a key role: cloud services, banks, Internet and telephony - services with a subscription fee. They have learned en masse, but clients are different and each needs its own approach.
An individual approach to customer service is called service personalization. For example, calling by first name and patronymic instead of “dear customer”, personal product recommendations based on past purchases, or a discount for length of service and for a birthday.
To personalize the service, you need to collect as much customer data as possible in one place. These are contacts, gender, age, geography, interests. And also user behavior: what mailings he opens, how often he contacts technical support, how much time he spends on the site.
There are difficulties in collecting such information - the data is scattered across systems: mailings in one place, sales in the CRM, payments in Internet banking, and so on. Look in the comments to see how this problem is solved.
OnlinePBX provides a virtual PBX - a cloud-based program for distributing calls between managers, which integrates with CRM systems. In addition to the program, we provide services: we help select a telecom operator, remotely set up clients’ routers and IP phones, set up and support PBX.
For many companies, telephony is a critically important thing: if there are no calls, then there are no sales, no money and no business. In order for our clients’ business to work and for us to get paid for the next month, we need good technical support.
16 thousand subscribers use the PBX every day, and it is important to quickly understand who contacted our technical support and for what issue. This is difficult, because calls in one system, letters in another, a database with accounts separately - there is no single tool. Therefore, we designed our own system, which took these nuances into account.
The idea of the internal information system is to collect data on sales, PBX usage scenarios, calls to technical support, financial analytics and other indicators in one place. Then employees could serve customers without wasting time switching between tools.
Marat Akhmetzanov
Head of technical support onlinePBX
Customers appreciate a personal approach and buy better when recommendations really suit them. Therefore, start collecting and systematizing data, download the memo to your computer so you don’t forget.
How to personalize service to the benefit of business and clients. Case onlinePBX
3. Automation in customer service
For business, people in customer service are the weak link, they are expensive, get sick, quit, cannot work around the clock, are in bad mood and they make mistakes more often than programs. Therefore, companies are forced to automate maintenance and reduce staff, facing other problems.
The first, automated tools like the Vera robot or chat bots, are not yet ripe for mass service and show low accuracy. They will continue to be implemented to solve simple issues, and more complex issues will continue to be solved by people. Therefore, companies will continue to invest in traditional automation.
Sometimes automation leads to the opposite - you have to involve even more people to solve standard issues.
The second problem is that clients themselves do not want to communicate with robots and prefer live communication. A 2017 Forbes study found that 60% of consumers still order goods and services over the phone. In the B2B industry, medium to large deals are concluded after face-to-face meetings. Therefore, the trend toward automation is long-term: robots must earn the trust of consumers, and consumers must “mature.”
Let's look at an example of how a business solves these problems.
Bus1 provides passenger transport for rent with a driver in 72 cities of Russia. Our buses are used at corporate events, delegations, weddings, for transporting tourists and at the last Olympics in Sochi.
We are automating the entire business; for example, we have introduced an analogue of the “Vera” robot to check whether drivers are on shift. We tried several times to exclude a person from the service process and encountered difficulties.
Buses are rarely ordered, no one knows how to do this, and the service is complicated. For example, there are many nuances in transporting children: you need to draw up lists, coordinate with the traffic police, take into account the specifics of the bus, select a contingent, and so on. Therefore, we are automating gradually.
We created a full-fledged personal account through which you can manage orders. It turned out that clients want to talk to the manager and rarely use him. Now we “accustom” them to working through services even at the sales stage. To do this, we are developing an interactive calculator and planning a widget for partner sites.
The idea of a calculator based on the example of weddings. After selecting the type of trip “wedding”, he will offer popular routes around your city, show photos and videos of buses, specify the date and time, the number of guests and ask whether evening delivery after the restaurant is needed. Confirmation of the order and information about the bus will be sent via SMS, without the participation of the manager.
Marketers note the following main trends in the development of customer service:
1. Manufacturers are creating more reliable equipment that is easily adaptable to different conditions. One of the reasons for this progress is the replacement of electrical equipment with electronic equipment, which results in fewer malfunctions and more maintainable operation. In addition, companies are expanding the production of autonomous and disposable equipment.
2. Modern consumers are well versed in issues of after-sales service and require an individual approach. They want to pay for each element of service and choose their own service providers.
3. Consumers are increasingly refusing to deal with service providers who service different types of equipment.
4. The peculiarity of service contracts (also called extended warranties) is that the seller provides maintenance and repairs for a certain period of time at a price agreed in the contract. The increased use of disposable equipment and equipment that does not fail reduces the propensity of consumers to pay 2 to 10% of the purchase price for warranty service.
5. The number of services provided is growing rapidly, which reduces their prices and the profit from selling equipment at a price that does not include the cost of after-sales service.
6. Today, the organization of the supply of spare parts is carried out within the framework of a choice between the task of reducing equipment repair time and the task of reducing costs associated with the immobilization of funds in the form of inventories of material assets. The emergence of permanent transport systems can have a significant impact on spare parts storage policies and thus on service policies.
7. The requirement for additional services is increasingly acting as a condition for paying for basic services.
8. The intensification of service networks is redefining the role of the after-sales technician, who is directly responsible for significant commercial responsibilities.
9. The desire for self-service is growing.
Main strategic directions for the development of services:
1. An enterprise whose work is assessed by the overall level of quality of new products must necessarily allocate a significant amount of resources for the needs of mixed services with due speed and competence.
2. Cooperation with other companies can be carried out if it allows increasing the speed and flexibility of providing services.
3. When training technical personnel, it is necessary to provide for the needs associated with new products (a priori). In addition, it is necessary to develop among service workers the ability to show clients the technical advantages of new equipment.
4. The quality of services, without a doubt, takes precedence over their variety.
5. Maintenance of equipment supplied by competitors is of interest only if this equipment is an integral part of complex systems in which the company's products appear.
It often becomes necessary to quickly supply spare parts, especially if the latter are of a unique nature, as is observed in companies that use innovations. This may lead to an increase in the network of spare parts warehouses, or the use of rapid transport means, such as air delivery, is often used in the information technology, capital goods or public works machinery sectors.
Flexibility is the second main characteristic of a maintenance system, which needs to be developed the more, the greater the uncertainty regarding the sales volume of a product, the duration of its life cycle and period of use, as well as its reliability in general. The difficulties therefore reach their maximum, for example, in the preliminary determination of the requirements for equipment units and spare parts, as well as in the training of technical personnel.
The desire to reduce costs associated with the production of goods and services at a given level of quality is one of the most important areas of activity of the enterprise.
The summary table, which presents the types of service policies, takes these elements into account and, in addition, provides examples additional directions policies that focus on integrated product development and personnel management (Table 15.2).
Table 15.2
Serving the competition through innovation. Examples of typical service policy orientations
|
Product development based on service goals and requirements |
Development of service offerings, volume and quality of services provided in parallel with servicing of sold products |
Regulating the supply of services during the service life of the product. Economic and organizational solutions |
|
Development and production of goods and services with advantage of technical characteristics. |
Focus on providing maintenance services for new and strategic products. |
Consider financial measures that allow the client to receive new equipment quite often: repairs, rental, etc. |
|
Remote maintenance and expert system to speed up equipment repairs. Maximum use of modular design allows you to speed up repairs and change the technical characteristics of equipment during its service life. Special spare parts are very High Quality. Programming by reconstruction, if they improve the technical characteristics of the equipment. |
The offer of maintenance services for competitors' equipment is an integral part of the systems in which equipment is used, supplied by a specific company. Speed and flexibility of operations to keep equipment in working order. Effective organization of repairs of outdated equipment. Fast and flexible physical distribution of parts. |
Searching for forms of cooperation with other companies if they allow you to increase the speed and flexibility of service. Creation of a significant emergency repair network. An information system that allows you to monitor changes in the technical characteristics of the equipment fleet, as well as changes in available maintenance tools (primary task). |
Control questions
1. Define the concept of “service standards”.
2. What are the expectations for service quality based on?
3. List the parameters for assessing the quality of services.
4. Define the concepts of “incoming” and “outgoing data.”
5. Define the term "RFK".
6. How to determine the optimal service level size?
7. Name the main trends and strategic directions that exist in the after-sales service policy.
8. What innovations are manufacturers trying to introduce into their products in order to improve service?
Main trends in the development of the oil and oil refining industry in the world.
K. N. Kozarez. Main trends in the development of the capitalist market for oil and petroleum products. BICKY. 1969. Appendix No. 7, 22 p.
One of the main trends in the development of social production is the displacement of small-scale production by large-scale production, resulting in its consolidation or concentration. By concentration of production, V.I. Lenin understood... its concentration more and more in a small number of large and largest enterprises.
The most important factor influencing the construction of the organizational structure of the industry and its constituent associations and enterprises is fast development microelectronics as a science and the largest area of industrial activity. The main trend in the development of microelectronics is the development and production of LSI circuits of great functional complexity with a high degree of integration, which make it possible to create IV generation radio-electronic equipment. Microelectronics plays a special role in the development of computer technology, the widespread use of which is a decisive factor in scientific and technological progress.
This chapter will examine some commonly used approaches to the problem of long-term economic forecasting using mathematical models, which include only the main indicators of economic development: national income, total fixed assets, and the total number of people employed in production. In such economic models, the entire economy of the country as a whole is taken as an elementary production unit. In 1, the simplest model is formulated, designed to analyze the main trends in economic development. Section 2 provides general information about production functions used to describe the economy as a whole, and Section 3 provides specific types of production functions. Section 4 analyzes the properties of the simplest economic model and shows the limitations of this model. Section 5 provides an overview of some areas of development of the original model in order to describe such an important factor in the development of economic systems in our time as scientific and technological progress.
In the previous chapter, we looked at mathematical methods and models for long-term forecasting of economic development. In these models, it was assumed that the economic system produces a single product, which is distributed between consumption and investment. Such a rough description of the most complex system of industrial relations and types of products was justified by the fact that highly aggregated models were intended for long-term (over 20 years) analysis of the main trends in economic development, so the use of more detailed models was difficult due to the lack of initial information.
This and the next chapters will examine mathematical models designed to describe the economy of the country as a whole. The currently existing mathematical models of the national economy can be divided into two large groups. In the first of them, the models include only the main indicators of economic development: gross output, national income, total fixed assets, the total number of workers employed in production, etc. Such models are usually called highly (or highly) aggregated models of the national economy. They are used to analyze the main trends in the development of the country’s economy and provide general idea about the prospects for its development and about the management of basic economic indicators (say, about the impact on the economy of various options for the distribution of national income between consumption and accumulation). Models of this type will be discussed in this chapter.
Name the main trends in the development of the budget system.
The main trend in the development of forecasting at present is the creation of fully integrated information systems. With the help of such a system, flexible management of the development of scientific and technological progress is possible. The functions of the system should include
Analysis of changes in the level of interest on loans over time and determination of the main development trend of this indicator to form the cost of loan capital.
To determine the main trend in the development of a phenomenon over time, various analytical functions are used. Using mathematical methods, a trend equation is selected that most accurately reflects the change in the indicator over time and ensures the proximity of the values of the empirical and adjusted data. In practice, the following approximating functions are most often used
The main trend in the development of balance in our country was its constant complication. IN last years the reverse process occurs - simplification of the balance sheet structure. Thus, over the past three decades, the number of balance sheet items has approximately halved.
The method of enlarged intervals is used to identify a trend in the dynamics of fluctuating levels that obscure the main development trend. The main thing in this method is the transformation of the original dynamics series into series of longer periods (monthly - into quarterly, quarterly - into annual). As a result of enlarging the intervals, the general trend of sales growth becomes obvious.
The analytical leveling method is used to measure trend. Its main content is that the main development trend yt is calculated as a function of time y. = /(//). Determination of theoretical levels y, production
The main development trend in such time series is expressed by the semilogarithmic function
The method of enlarging intervals is used to identify a trend in the dynamics of fluctuating levels that obscure the main development trend. This method is based on the enlargement of periods, which include the levels of the dynamics series.
The dynamics of the use of tower crane equipment (basic models of tower cranes) are considered from the perspective of changes in their technical characteristics over the period from 1955 to 1995. The main trends in the development of lifting height, maximum reach, load lifting speed, crane movement speed and structural weight for tower cranes with a lifting capacity of 5, 8 and 10 tons have been identified. Based on mathematical processing of statistical materials, trends in changes in the technical characteristics of cranes over time have been obtained and described, which allow draw conclusions about their relative stabilization to date, which is explained by established types of space-planning solutions, organizational and technological installation situations and other reasons. General equations are summarized in table. 4.35.
In the process of its development, the main trends in the development of finance are predicted, the concept of their use is formed, and the principles of financial relations with the state (tax policy) and partners are outlined. Strategy involves choosing alternative ways of developing an enterprise. At the same time, they use forecasts, experience and intuition of specialists to mobilize financial resources to achieve their goals. From the standpoint of strategy, they formulate specific goals and objectives of production and financial activities and make operational management decisions.
What are the main trends in the development of profit (income) taxation?
A trend is a long-term component of a dynamic series. It characterizes the main trend in the development of a series, while the remaining components are considered only as interfering with the procedure for its determination.
Interval enlargement method. If we consider the levels of economic indicators over short periods of time, then due to the influence of various factors acting in different directions, a decrease and increase in these levels are observed in the dynamics, which makes it difficult to see the main trend in the development of the phenomenon being studied. Therefore, to visually represent the trend, the method of enlarging intervals is used, based on enlarging the time periods to which the levels of the series belong. For example, a series of daily output is replaced by a series of weekly or monthly output.
To display the main trend in the development of phenomena over time, various equations, polynomials of varying degrees, exponentials, logistic curves and other functions are used.
Foreign experts identify five main trends in the development of information technology. Let us briefly describe them.
The basic theoretical principles of the operating principle of a rod hydraulic drive of a pumping unit using a tubing string as a balancing load are outlined. The main trends in the development of this drive for sucker rod pumping units and
The purpose of horizontal and vertical analysis of financial statements is to visualize the changes that have occurred in the major items of the balance sheet, income statement and statement of cash and help the company's managers make decisions about how to continue its operations.
Horizontal analysis consists of comparing the financial data of an enterprise for two past periods (years) in relative and absolute form in order to draw conclusions about the company’s development trends.
Let's consider a horizontal analysis of the balance sheet of the conditional enterprise “Standard”, placed in table. 1
The analysis technology is quite simple: the data on the main balance sheet items at the beginning and end of the year are placed sequentially in the second and third columns. Then, in the fourth column, the absolute deviation of the value of each balance sheet item is calculated. The last column identifies the relative percentage change of each item.
1. The total assets of the enterprise increased by 40,301, while the total liabilities decreased by 20,924.
2. The increase in total assets occurred solely due to an increase in retained earnings: the company did not issue new financial instruments and did not increase debt.
3. The amount of working capital of the enterprise increased by 60,773. This increase was primarily due to accounts receivable. At the same time, the total amount of cash and cash equivalents in the form of marketable securities decreased by 45,752.
Table 1. Horizontal analysis of the balance sheet of the Standard company - thousand dollars.
| Balance sheet of the enterprise | 01.01.2011 | 01.01.2012 | Absolute | Relative |
| change | change | |||
| ASSETS | ||||
| Fixed assets | ||||
| Trade marks | 28,000 | 28,000 | - | 0.00 % |
| Buildings, structures, equipment (initial cost) | 350,269 | 358,169 | 7,900 | 2.26 % |
| Accumulated depreciation | 83,751 | 112,083 | 28,332 | 33.83 % |
| 266,518 | 246,086 | (20,432) | -7.67 % | |
| Investments | 15,000 | 15,000 | - | 0.00 % |
| Non-current assets, total | 309,518 | 289,086 | (20,432) | -6.60 % |
| Current assets | ||||
| 51,476 | 45,360 | (6,115) | -11.88% | |
| Accounts receivable | 270,600 | 388,800 | 118,200 | 43.68% |
| Bills receivable | 47,400 | 42,800 | (4,600) | -9.70% |
| Prepaid expenses | 11,000 | 10,000 | (1,000) | -9.09% |
| Marketable securities | 54,200 | 14,200 | (40,000) | -73.80% |
| Cash | 17,438 | 11,686 | (5,752) | -32.98% |
| Current assets, total | 452,113 | 512,846 | 60,733 | 13.43% |
| Assets, total | 761,631 | 801,932 | 40,301 | 5.29% |
| LIABILITIES | ||||
| Equity | ||||
| Ordinary shares | 288,000 | 288,000 | - | 0.00% |
| Preference shares | 30,000 | 30,000 | - | 0.00% |
| Additional paid-in capital | 12,000 | 12,000 | - | 0.00% |
| retained earnings | 60,539 | 116,764 | 56,225 | 92.87% |
| Equity, total long term duties | 390.539 | 446.764 | 56.225 | 14.40% |
| Bonds payable, par value $100 | 80,000 | 80,000 | - | - |
| 15,000 | 10,000 | (5,000) | -33.33% | |
| 5,600 | 4,400 | (1,200) | -21.43% | |
| Long-term liabilities, total | 100,600 | 94,400 | (6,200) | -6.16% |
| Short-term liabilities | ||||
| Accounts payable | 142,988 | 97,200 | (45,788) | -32.02% |
| Bills payable | 37,600 | 32,600 | (5,000) | -13.30% |
| Accrued liabilities | 49,350 | 85,400 | 36,050 | 73.04% |
| Bank loan | 6,500 | 10,500 | 4,000 | 61.54% |
| Tax debts | 34,054 | 35,068 | 1,014 | 2.98% |
| Current liabilities, total | 270,492 | 260,768 | (14,724) | -5.23% |
| Liabilities, total | 761,631 | 801,932 | 40,301 | 5.29% |
We also note that against the backdrop of a significant increase in working capital, the amount of short-term debt decreased by 14,724 or 5.23%. This decrease was due to accounts payable and bills payable, i.e. due to debts to suppliers. The company managed to compensate for this reduction by increasing accrued liabilities, which in this situation were an additional source of financing.
A similar analysis is carried out on the basis of the profit and loss statement of the enterprise. In table 2. shows a horizontal analysis of the profit and loss statement.
Table 2. Horizontal analysis of the profit and loss statement of the Standard company - thousand dollars.
| Profit report for | 2011 | year 2012 | Absolute change | Relates. change |
| Revenue | 1,230,000 | 1,440,000 | 210,000 | 17.07% |
| 918,257 | 1,106,818 | 188,561 | 20.53% | |
| Material costs | 525,875 | 654,116 | 128,241 | 24.39% |
| Pay for direct labor | 184,500 | 201,600 | 17,100 | 9.27% |
| 167,050 | 214,120 | 47,070 | 28.18% | |
| Depreciation of tangible assets | 35,832 | 31,982 | (3,850) | -10.74% |
| 5,000 | 5,000 | - | 0.00% | |
| Gross income | 311,744 | 333,182 | 21,439 | 6.88% |
| Administrative costs | 55,350 | 86,400 | 31,050 | 56.10% |
| Marketing costs | 129,150 | 122,400 | (6,750) | -5.23% |
| Profit (loss) from sales | 127,244 | 124,382 | (2,861) | -2.25% |
| 1,250 | 6,150 | 4,900 | 392.00% | |
| Dividends received | 1,520 | 1,020 | 204.00% | |
| 128,994 | 132,052 | 3,059 | 2.37% | |
| Interest on bonds | 11,200 | 11,200 | - | 0.00% |
| 3,200 | 2,400 | (800) | -25.00% | |
| 1,080 | 1,560 | 44.44% | ||
| 113,514 | 116,892 | 3,379 | 2.98% | |
| Income tax | 34,054 | 35,068 | 1,014 | 2.98% |
| Net profit | 79,459 | 81,825 | 2,365 | 2.98% |
The conclusions that can be drawn based on these data are as follows.
1. The company's revenue increased by 17.7%, while gross income increased only by 6.88%. This undesirable ratio for the enterprise was a consequence of the fact that costs for direct materials (by 24.39%) and production overhead costs (by 28.18%) increased at a higher rate.
2. Profit from sales of the enterprise decreased by 2.25%. This decrease in profit was the result of a significant (56.10%) increase in administrative costs. The slight reduction in marketing costs was unable to balance the very strong increase in administrative costs.
3. Despite the noted undesirable growth rates of the enterprise's costs, the enterprise's net profit remained at the same level (increased slightly by almost 3%). This became possible due to a reduction in the amount of interest payments (the company repaid part of the bank loans), as well as through profits from non-core activities (sale of assets and receipt of dividends from the ownership of corporate rights of other enterprises).
The cash flow statement can also be analyzed using horizontal analysis techniques. The analysis technology does not fundamentally change compared to the previous approach. However, the report format itself should be modified by grouping receipts and payments of money and presenting all numerical data in the form of positive numbers. The fact is that horizontal analysis of negative numerical data is not clear and can cause difficulties in interpretation.
A horizontal analysis of the cash flow statement for the Standard company is presented in Table 3.
Table 3. Horizontal analysis of the cash flow statement of the Standard company - thousand dollars.
| Primary activity | 2011 | year 2012 | Absolute change | Rel. change |
| Cash receipts | ||||
| Cash receipts from customers | 1,107,400 | 1,321,800 | 214,400 | 19.36% |
| Receiving money on bills | 4,600 | 4,600 | - | 0.00% |
| Advances received | (10000) | - 71.42% | ||
| Rent and other income | 1,520 | 1,020 | 204.00% | |
| Receipt of money, total | 1,126,500 | 1,331,920 | 205,420 | 18.24% |
| Payments of money | ||||
| Cash paid for the purchase of materials | 562,963 | 693,788 | 130,825 | 23.24% |
| Cash to pay operating expenses | 500,900 | 592,470 | 91,570 | 18.28% |
| Payment of money on bills | - | 5,000 | 5,000 | - |
| Interest payments | 15,480 | 15,160 | (320) | -2.07% |
| Payment of tax arrears | 9,820 | 34,054 | 24,234 | 246.78% |
| Cash payments, total | 1,089,163 | 1,340,472 | 251,309 | 23.07% |
| Final cash flow | 37,338 | (8,552) | (45,889) | 122.90% |
| Investment activities | ||||
| Payments of money when purchasing assets | 7,500 | 17,400 | 9,900 | 132.00% |
| Receiving money when selling assets (shares) | 5,000 | 12,000 | 7,000 | 140.00% |
| Final cash flow | (2,500) | (5,400) | (2,900) | 116.00% |
| Financial activities | - | - | ||
| Loan repayment | 6,200 | 6,200 | - | 0.00% |
| Dividends paid | 3,600 | 25,600 | 22,000 | 611.11% |
| Final cash flow | (9,800) | (31,800) | (22,000) | 224.49% |
| Net cash flow | 25,038 | (45,752) | (70,789) | -282.73% |
Using the presented data, the following conclusions can be drawn.
1. Resulting net cash flow decreased by 70,789. This decrease was the result of a decrease in the monetary performance of the enterprise's core activities.
2. Cash flow from operating activities decreased by 45,889. In 2012 it became negative. This was a direct result of the following ratio: total cash receipts from operating activities increased by 205,420, while total disbursements increased by 251,309.
3. The major role in this dramatic deterioration in the company's ability to generate cash was played by an increase in 1) cash payments to suppliers for basic materials and 2) cash payments for operating expenses. The company was unable to compensate for the increase in these cash payments with a corresponding increase in the receipt of money from consumers of the company's products.
4. The company was unable to compensate for the decrease in cash flow from operating activities through investing and financing activities. Both were not efficient in terms of money: cash flow from investing activities decreased by 2,900, and cash flow from financing activities decreased by 22,000. The latter was due to the increased payment of cash dividends in 2012.
5. As can be seen from the cash flow statement itself, the company compensated for the significant decrease in cash flow with the money that was received from the sale of marketable securities.
Actually, nothing very tragic happened: marketable securities represent a kind of cash reserve that is designed to compensate for the temporary financial inefficiency of the enterprise. The enterprise has accumulated such a reserve as a result of its past activities. And in 2012 he played his role. It is clear that now the main task of the company is to prevent a similar situation in next year, since the amount of the reserve has decreased significantly.
The results of the analysis allow the management of the enterprise to make the following fundamental recommendations to its management.
1. Improve relationships with suppliers and consumers in order to obtain a more favorable ratio of receivables and payables.
2. By all means reduce administrative costs by at least a quarter.
3. The financial director should make every effort to find profitable sources of short-term financing if it is not possible to achieve preferential lending conditions from the supplier.
Vertical analysis allows you to draw a conclusion about the structure of the balance sheet and profit statement in the current state, as well as analyze the dynamics of this structure. The technology of vertical analysis is that the total amount of assets of the enterprise (when analyzing the balance sheet) and revenue (when analyzing the profit statement) are taken as one hundred percent, and each item of the financial statement is presented as a percentage of the accepted base value.
A vertical analysis of the balance sheet of the Standard company is presented in Table 4.
Table 4. Vertical analysis of the balance sheet of the Standard company.
| Balance sheet of the enterprise | 01.01.11 | 01.01.12 | 01.01.13 |
| ASSETS | |||
| Working capital | |||
| Cash | 3.60% | 2.26% | 1.45% |
| Marketable securities | 3.89% | 7.01% | 1.76% |
| Accounts receivable | 23.81% | 35.02% | 48.12% |
| Bills receivable | 8.37% | 6.13% | 5.30% |
| Inventory | 0.87% | 6.66% | 5.61% |
| Prepaid expenses | 1.93% | 1.42% | 1.24% |
| Working capital, total | 42.47% | 58.52% | 63.48% |
| Fixed assets | |||
| Buildings, structures, equipment (initial cost) | 56.49% | 45.33% | 44.33% |
| Accumulated depreciation | 8.46% | 10.84% | 13.87% |
| Buildings, structures, equipment (residual value) | 48.04% | 34.49% | 30.46% |
| Investments | 2.41% | 1.94% | 1.86% |
| Trade marks | 5.15% | 3.62% | 3.47% |
| Fixed assets, total | 57.53% | 41.48% | 36.52% |
| Assets, total | 100.00% | 100.00% | 100.00% |
| LIABILITIES | |||
| Short-term debt | |||
| Accounts payable | 21.56% | 18.51% | 12.03% |
| Bills payable | 4.12% | 4.87% | 4.03% |
| Accrued liabilities | 3.41% | 7.16% | 10.69% |
| Bank loan | 0.72% | 0.84% | 1.30% |
| Current portion of long-term debt | 0.80% | 0.65% | 0.62% |
| Tax debts | 1.58% | 4.41% | 4.34% |
| Short-term debt, total | 32.19% | 36.43% | 33.02% |
| Long-term debt | |||
| Bonds payable, par $100, 14% | 12.87% | 10.35% | 9.90% |
| Long-term bank loan | 3.22% | 1.94% | 1.24% |
| Deferred income tax | 1.09% | 0.72% | 0.54% |
| Long-term debt, total | 17.18% | 13.02% | 11.68% |
| Equity | |||
| Preferred shares, par $30, 12% | 4.83% | 3.88% | 3.71% |
| Common shares, par value $12 | 41.83% | 37.28% | 35.65% |
| Additional paid-in capital | 1.93% | 1.55% | 1.49% |
| retained earnings | 2.04% | 7.84% | 14.45% |
| Equity, total | 50.62% | 50.55% | 55.30% |
| Liabilities, total | 100.00% | 100.00% | 100.00% |
The presented data allows us to draw the following conclusions.
1. The share of the company's current assets is approximately half of the company's assets, and it increases every year.
2. The share of fixed assets is decreasing, despite the acquisition of new equipment.
3. The share of short-term debts is at the level of one third of the value of the enterprise's assets and does not undergo significant changes.
4. The share of the company's long-term debts has been steadily decreasing and at the end of 2012 amounted to 11.68%.
5. The company's equity capital is at the level of 50% of the total amount of its liabilities, which indicates the average level of risk of the company becoming bankrupt.
A vertical analysis of the income statement is presented in table. 5.
Table 5. Vertical analysis of the profit and loss statement of the Standard company.
| Profit and loss report for | 2011 | year 2012 |
| Revenue | 100.00% | 100.00% |
| Production cost: | 74.66% | 76.86% |
| Material costs | 42.75% | 45.42% |
| Pay for direct labor | 15.00% | 14.00% |
| Manufacturing overhead costs | 13.58% | 14.87% |
| Depreciation | 2.91% | 2.22% |
| Amortization of intangible assets | 0.41% | 0.35% |
| Gross income | 25.35% | 23.14% |
| Administrative costs | 4.50% | 6.00% |
| Marketing costs | 10.50% | 8.50% |
| Profit/loss from sales | 10.35% | 8.64% |
| Profit/loss from sale of assets | 0.10% | 0.43% |
| Dividends received | 0.04% | 0.11% |
| Earnings before interest and taxes | 10.49% | 9.17% |
| Interest on bonds | 0.91% | 0.78% |
| Interest payments on long-term debt | 0.26% | 0.17% |
| Interest payments on a bank loan | 0.09% | 0.11% |
| Profit before income tax | 9.23% | 8.12% |
| Income tax | 2.77% | 2.44% |
| Net profit | 6.46% | 5.68% |
Analyzing these data, we can come to the following conclusions.
1. The share of material costs in 2012 is 45.42%, which is more than in the previous year (42.75%). This, in turn, led to an increase in the share of production costs in total revenue.
2. The share of administrative costs in 2012 is 6%, which is slightly higher compared to the previous year. At the same time, the share of marketing costs decreased from 10.5% to 8.5%.
3. The noted changes caused the share of profit from sales in revenue to decrease from 10.35% to 8.64%. This undoubtedly indicates a decrease in the efficiency of the enterprise's operating activities.
4. The final result of changing the cost structure of an enterprise is a decrease in the share of net profit in revenue. In 2012 it was 5.68% versus 6.46% in 2011.
Based on the results of the vertical analysis, enterprise management can make the following recommendations.
1. Economic services of the enterprise take urgent measures to strengthen control over the costs of the enterprise.
2. Prevent a decrease in the share of operating profit in revenue next year. Achieve an increase in this value, at least to the level of last year.
3. Analyze in more detail the composition of the enterprise’s fixed assets in order to make a decision on their renewal.
As follows from the above description, horizontal and vertical analysis of the financial statements of an enterprise is an effective means for studying the state of the enterprise and the effectiveness of its activities. Recommendations made on the basis of this analysis are constructive in nature and can significantly improve the state of the enterprise if they can be implemented.
At the same time, the possibilities of this type of analysis are limited under conditions of strong inflation. In fact, inflation greatly distorts the results of comparing the values of balance sheet items in the process of horizontal analysis, since the valuation of different groups of assets is affected differently by inflation. Under the condition of high turnover of working capital, the assessment of their main components (accounts receivable and inventory) manages to take into account changes in the price index for material resources, both entering the enterprise and leaving it in the form of finished products. At the same time, the assessment of a company's fixed assets, made on the basis of the principle of historical cost, does not have time to take into account the inflationary increase in their real value.
There are at least three approaches to eliminating the influence of inflation on the results of horizontal and vertical analysis:
- recalculation of balance sheet data taking into account various price change indices for various types of resources,
- recalculation of balance sheet data taking into account a single inflation index for various types of resources,
- recalculation of all balance sheet items for each point in time into hard currency at the exchange rate on the date of the balance sheet.
From the point of view of each approach, one of the balance sheets is taken as the base one (for example, the earliest or latest balance sheet in terms of time of compilation). Then the data for all other balances is recalculated taking into account the assumptions made within the framework of the listed approaches. And only after such a recalculation does a comparison of balance sheet items occur horizontally or vertically.
Unfortunately, none of these approaches can eliminate the impact of inflation in real practice. The first approach seems to be the most accurate. However, when using it, inflation index values are required for each individual type of resource (office equipment, office furniture, technological equipment, etc.). Unfortunately, it is impossible to obtain such values from official sources in real conditions. And specifically searching for source data to evaluate these indices for an enterprise is usually very expensive. The second approach uses a single inflation index and obviously does not reflect changes in the real value of various assets. Formally, a recalculation of the value of assets can be carried out, and the data obtained in this way are more comparable for the purposes of horizontal and vertical analysis compared to the original data. However, this approach cannot guarantee a real ratio of asset values.
Finally, converting balance sheet data into hard currency using the exchange rate at the balance sheet date also does not guarantee the true relationship between the values of various assets. The fact is that the exchange rate reflects the ratio of values in different currencies only for monetary assets (essentially, only cash and marketable securities). Of course, the book value of fixed assets, translated at the exchange rate and compared at the beginning and end of the year, will not reflect the true market value of these assets. It should also be taken into account that hard currency within a country with a strong inflation rate is also subject to inflation, i.e., for example, the dollar value of an asset can change significantly over time, despite the fact that in the United States the inflation rate does not exceed two percent .
The final conclusion is this: in the process of conducting horizontal and vertical analysis, you should use the national currency of the country and not recalculate balance sheet items due to changes in the price level. At the same time, simultaneously with the presentation of the results of the analysis, the inflation rate for the period at the boundaries of which the enterprise’s balance sheet is compiled should be indicated. If the annual inflation rate does not exceed 6–8 percent, then the results of horizontal and vertical analysis of financial statements can be considered useful and appropriate conclusions can be drawn based on them.
Short description
Relevance of the research topic. In conditions of development market relations The forms of interaction between producers and consumers of products and services are changing significantly. In this aspect, processes focused on meeting diverse consumer demands, which are not limited only to the demand for services or goods, are becoming increasingly important. Demand as one of the important economic concepts is the most important concept in modern socio-economic conditions. In the market, the decisive factor in purchasing services is not only price and consumer properties, but also the real ability to provide their necessary service at all stages of the life cycle.
Introduction
Chapter I. Service activities…..
Chapter 2. Factors in the development of service activities
2.1. Consumer demand
2.2. Innovative technologies ……
Chapter III. Features of the development of service activities using the example of ....
2.1. Characteristics of the enterprise
3.2. Factors in the development of service activities….
3.3. Recommendations for improving the quality of service
Conclusion
List of used literature
Contents of the work - 1 file
The influence of the above factors on consumer demand in the service sector is given below in more detail.
Socio-demographic. Among the social factors in the growth of demand for services, first of all, it is necessary to note the increase in the length of free time of the population (reduction of working hours, increase in the duration of annual vacations), which, combined with an increase in the standard of living of the population, means an influx of new potential clients into the service sector. Also, demand in the service sector is constantly influenced by demographic factors related to the size of the population, its distribution in individual countries and regions, gender and age structure (with the allocation of the working population, students, pensioners), marital status and family composition.
Economic. The influence of economic factors is mainly due to the fact that there is a close interdependence between the development trends of the service sector and the economy. According to experts, the decrease in the share of household, health resort, legal and a number of other services occurs against the backdrop of an increase in the population’s expenses for housing and communal services, communications, and medicine. The increase in prices and tariffs has led to the fact that people turn to paid services not when they want, but due to forced circumstances. It is clear that demand dictated solely by life circumstances has little prospects for the dynamic development of the market. The catalyst in this area can only be the desire of the consumer.
Seasonal. In the service sector, to a greater extent than in material production, it is necessary to take into account the time factor (seasonal declines in demand, peak periods of demand during the day). This is most clearly seen in the example of transport services. Demand depends on the time of year and days of the week, as the number of passengers increases in the summer and on weekends. The role of capacity planning (throughput of the service sector) is important here.
Psychological. Most buyers of services do not adhere to strict rationality in the acquisition process, which would involve identifying all possible sources of acquisition of services and applying evaluation criteria to each of them. However, it is clear that organizational buyers act with more rationality than individual consumers, who demonstrate greater illogicality in making purchasing decisions. The corporate consumer would rather take a simple and relatively less risky approach by purchasing a familiar service than spend time searching and analyzing all possible options.
In order to solve the problem of fluctuations in consumer demand in the service sector, synchromarketing is widely used. The plans deliberately take into account the cyclical nature of demand, and the company’s performance depends on how accurately the amplitude of demand fluctuations is predicted. Therefore, in order to stabilize sales, it is necessary to minimize fluctuations in demand, that is, to activate some needs and “mute” others.
The second condition is the demand hypothesis, which is scientifically based assumptions about the nature of the relationship between demand and the factors that shape its dynamics. To ensure the successful functioning of service activities, more complete satisfaction of the population’s demand in the future may include assumptions that:
The growth of monetary incomes of the population will contribute to an increase in the total volume and improvement of the structure of consumer demand;
There will be a state social politics, aimed at reducing the differentiation of the population in terms of monetary income per family member, which will contribute to the growth of mass demand for consumer goods and services;
A moderate increase in consumer prices will help saturate the market with goods and services;
The development of the material and technical base and modern trade and technological processes in the sectors of commodity circulation will ensure the widespread satisfaction of the population's demand.
An indicator of the conditions for development and the relationship of service activities with consumer demand as a stimulating factor for its development can be some of the following areas developed to stimulate demand:
1. Establishing differentiated prices and discounts allows you to shift part of the demand during the peak period to periods of calm. For example, preferential tariffs for communication services on weekends and after 21:00, differentiation of prices for tourist services depending on the season.
2. Expansion of demand at unpopular times. For example, McDonald's opens breakfast restaurants to attract customers.
3. Introduction of a system of pre-orders for services using modern technical innovations (Internet, Email and etc.). For example, ordering air tickets, booking hotel rooms.
4. During periods of peak demand, additional services can be offered as an alternative to customers waiting in line. For example, coffee, cocktails, fresh newspapers, magazines.
The specifics of the dynamics of consumer demand for a service are due to such features as intangibility, non-storability, inseparability from the source, and variability of quality. Fluctuations in demand are characterized by patterns, the qualitative analysis of which makes it possible to differentiate the volume and structure of consumption by the population of certain types of services and leads to further progressive development of service activities as a whole.
Thus, a thorough study of consumer demand, the formation of development strategies, pricing programs, the creation of effective information support for the functioning of the service sector will allow us to further study in more depth modern socio-cultural, economic and other conditions of service and develop new directions in the development of service activities of society as one of components of its macrostructure.
1.3. Conditions for the development of service activities
It is difficult today to overestimate the role of service as one of the real components of the life of society, by which one can confidently judge the level or quality of life of the population. The development of specific measures for the development of services should be based, on the one hand, on a clear definition of what is special about how this area of activity differs from any other (for example, from industrial production). In other words, we are talking about identifying the service sector. On the other hand, it is necessary to identify the main trends inherent in modern service, as well as factors that stimulate or inhibit the development of this extremely dynamic area of the economy.
Solving the first problem is greatly complicated due to the inherent feature of modern service, which consists in its penetration into almost all areas human activity.
One of the characteristics modern society This is precisely the service industry, which is quite developed and predominates over other sectors of the economy. By the way, the concept post-industrial society(the founder of which is the American sociologist D. Bell) has been largely confirmed in practice and, under certain assumptions, can be one of the guidelines for justifying trends in the development of the domestic economy in the near future.
There are approaches to solving the problem of identifying the service sector that differ in their breadth or criteria used, taking into account the main trends characteristic of modern service, including:
1) Increasing share of services in the economy (“servization of the economy”);
2) Changes caused by the influence of scientific and technological progress and increased competition;
3) Increased individualization of the requirements of service consumers;
4) Changes in the legal regulation of the service sector. The influence of consumerism.
These trends in their combined effect contributed not only to the growth of the quality of services, but also to the restructuring of the service sector, which consisted in the fact that certain areas of the service began to curtail their activities taking into account the falling demand, while others, on the contrary, received wider development.
The general state of this area in the Russian Federation can be defined as a transition from a predominantly distributive and egalitarian service model, in which the consumer has a minimum of rights, to a market model based on private initiative, competition and the orientation of all processes operating in this area towards the consumer.
When solving the problem of identifying the service sector in Russian conditions, it is also necessary to take into account:
1. the presence of two service areas almost similar in terms of volumes of provision and types of services: service for enterprises and service for individuals;
2. high dynamism of the service sector, which consists in the formation of new types of services, their differentiation by type, class, etc.;
3. influence on the legal business of the “shadow service” sector.
Any purposeful activity of service enterprises is based on the mandatory execution of the function of planning the required (desired) future, starting with setting goals and ending with planning specific actions to provide services to consumers and develop the enterprise.
Forecasts for the development of domestic enterprises in the near future show that enterprises of the 21st century will be characterized by such common features as
Decentralization of production, household and service functions, consisting in the restructuring of large companies and the formation of business units fully responsible for the results of their activities.
Focus on innovation, search for new types of products and new markets;
Spreading information technologies on all areas of enterprise activity, including issues of integration of production and service processes with partners in joint activities;
Formation of global strategies;
Strengthening focus on customer needs;
The emphasis in the selection of managers is not on qualities such as decisiveness, but, above all, on the ability to foresee the development of the situation, the ability to create opportunities for staff growth.
Service activities are divided into a large number of directions (spheres, forms, sectors, etc.). The structure of service activities should, in general terms, repeat the structure of needs and correspond to it. Thus, two areas of service activity correspond to material and spiritual needs - materially oriented and spiritually oriented. The presence of individual, group and universal human needs is expressed in the existence of a hierarchy of forms of service activity, covering various communities of people:
microdistrict level (household services and repairs);
district level;
city level (transport system);
regional level within the state;
level of an individual state (legal services, financial system, healthcare, education);
level of region, group of states;
global level (means are trying to act on it mass media and service departments of transnational corporations).
Service activities can be classified into five broad types: technical service; technological service;
information and communication services; transport service; humanitarian service.
The issue of methods of service activities has not been well researched and requires special explanation.
When applied to the service sector, the method of service activity can therefore be defined as a method of providing services, a set of techniques and operations that make it possible to provide services and satisfy the needs of the client.
Service activities, like the needs of the people that they satisfy, are complex and complex. Therefore, it uses a large set of different methods, the connection between which can be remote and indirect.
Methods of satisfying needs can, first of all, be divided into two groups: general, used in various fields human activity, and specific ones that arise and are developed specifically in the service sector (although later they can be partially borrowed from other areas of society).
General ones include, first of all, the most fundamental methods necessary for any successful activity - the method of an objective approach and the method of considering any phenomena in their change and development. The general method of an objective approach should be concretized through special methods and techniques of service activities, which make it possible to make the right decisions and achieve set goals. The dialectical method focuses on the analysis of any situation in its development. Common methods also include systems approach, necessary for organizing activities in the service sector (especially for a long time and on a large scale) and a synergetic method close to it (synergetics is a general theory of self-organization, or the theory of evolution and self-organization of complex systems).
In terms of its functional purpose, the service sector, as well as service activities, does not represent a single complex. This is an extremely heterogeneous group of industries performing various economic functions. The heterogeneity of the service sector requires a differentiated approach to the analysis of trends and factors in the development of each individual type of service, to characterizing the relationship between extensive and intensive sources of growth, and social contradictions accompanying the development of each industry.
Reaction rate constant Guidelines for laboratory work
Is there life after death?
Scientists: Earth is a “space prison” for humanity scientists: Earth is a space prison in the universe