Making business easier

K&H Precision Products, Inc. manufacturers custom, low volume and prototype aluminum parts. Its foundry and machining operations employ 40.

Our contribution to freeing owner-management time while enhancing their effectiveness have been substantial in our seven years serving as Controller and CFO. President, Colin Hogarth, has found the need to wear a few less hats and is able to enjoy a healthy work-life balance.

We established a Value Creation Planning process to enable focus and efficient follow-up on high-level goals. Management is kept well informed with a weekly control report of business activity and timely, accurate quarterly financial statements. Our assistance helped with enhanced use of the ERP system to bring accuracy and efficiency to estimating, quoting and job costing. Rigorous analysis of profitability by part and customer are performed.

Additionally, we assumed primary responsibility for managing the company’s banking, outside accounting & tax and business insurance relationships. A process for customer credit approval and review was implemented.

Moreover, we led the planning, legal and accounting work that enabled an easy, generational transfer of business ownership. We conducted all work to take full advantage of the COVID PPP and ERC federal business assistance programs. Also, we led the process to identify and utilize outside marketing assistance, including monetary grant aid. Finally, a time-saving model for management’s use in determining individual employee bonus amounts was created.

Collectively, our responsibilities and activities, above, make doing business easier and markedly less time consuming for owner-management a welcome dividend to go along with financial improvement impacts.