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The Accounts Department Goal Board M2L1

The Accounts Department Goal Board M2L1. ?. Support Hotline. E-Mail Support. Live help is available outside of class at 678.402.0015. Live help is available outside of class at support@aarons.com. How To Get Credit For This Course.

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The Accounts Department Goal Board M2L1

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  1. The Accounts Department Goal BoardM2L1 ? Support Hotline E-Mail Support Live help is available outside of class at 678.402.0015 Live help is available outside of class at support@aarons.com

  2. How To GetCredit For This Course You will be given a two part Authorization Code for this class, do not leave class, manual attendance is required to receive credit for todays class! EXAMPLE WRITE IT DOWN! Authorization Codes will NOT be given out again after class!

  3. What You’ll Need • Pencil • Paper • Calculator • Brain

  4. Topics Covered • Review M2SP1 – Self-Paced • How to Get Started • Effective Goal Planning • Filling Out the Goal Board • Best Practices • Review

  5. Volunteer Store For demonstration purposes, I need a store to volunteer for us to use their numbers while going through some of the exercises during this course. Make sure you’re not shy about everyone seeing your numbers.

  6. Review • Goal • Standard GOAL The level at which we are expected to operate, or a milestone forforward progression 100% 95% STANDARD The minimum acceptable level of performance for a particular measurement

  7. Review • 1stCycle • 2ndCycle 1stCYCLE From the 1st to the 15th 2nd CYCLE From the 16th to the EOM 2nd CYCLE 16thto the end of the month 1st CYCLE 1st to the 15th of the month

  8. Review • 1st Bucket • 2nd Bucket • 3rd Bucket 1st BUCKET Contains customers that are 4-16 days non-renewed 2ndBUCKET Contains customers that are 17-31 days non-renewed 3rdBUCKET Contains customers that are 32+ days non-renewed 1st Bucket 2nd Bucket 3rd Bucket

  9. Review • Charge-Offs & Returns CHARGE-OFFS 1% or less for the month RETURNS 3% or less for the month C/O 1% or less for the month RTN 3% or less for the month 4%

  10. Review • W/O % W/O % Write-Off Percentage 2% or less for the month

  11. Review • NONs • Points NONs A non-renewed customer POINTS Assigned based on the length of time a customer is non-renewed 1st 2nd 3rd 2 points 10 points 5 points

  12. AIC vs. ALIC • Average Income per Customer • Total Income ÷ Total Customer Count • Includes non-renewal fees, truck (F/V) fees, and Aaron’s Service Plus. AIC ALIC • Average Lease Income per Customer • Total Lease Income ÷ Total Customer Count • Includes ONLY lease payments • Digital goal board will automatically calculate ALIC for you

  13. Review • Projected Revenue PROJECTED REVENUE The total amount of all leasepayments due in a particular month

  14. Starting Your Digital Goal Board 1 RUN the Agreement Analysis to get… PROJECTED REVENUE BOSS 2 RUN the Agreement Analysis to get… TOTAL CUSTOMER COUNT BOSS 3 ART OPENING COUNT RUN the Customer Non-Renewal Count to get… FOR EACH BUCKET 4 • ENTER these fields in the digital goal board. POINT • OUT that… • ALIC for the 1st, • mid-cycle goals & • end of cycle goals • …update automatically when these figures are input.

  15. Setting Daily Goals 1 EXAMPLE: 1st bucket 450 Customer Count 1000 450 1st Bucket Count - 99 Mid-cycle Goal _____ 351 351 customers need to renew between the 1st and the COB on the 8th. 2 450 99 OPENING COUNT FOR 1st BUCKET From the Customer Non-Renewal Count Report in ART 4 MID-CYCLE GOAL 9.99% of Total Customer Count 3

  16. Setting Daily Goals 1 351 customers need to renew between the 1st and the COB on the 8th. Divide the # of customers that need to renew (351) by the number of working days. # RENEWALS NEEDED: 351 # WORKING DAYS: ÷ 7 __________ 50.1 or 50 50 customers need to renew each day to reach the mid-cycle goal of 99 non-renewals. From 450, each day should reduce by 50 customers. 450 400 350 300 250 200 150 99 -50 WEDNESDAY 2 -50 THURSDAY FRIDAY -50 SATURDAY SUNDAY 3 MONDAY -50 TUESDAY -50 WEDNESDAY

  17. Day/Date Variations 1 Consider the day of the week and other factors that may play a part on the ability of a customer to make their lease payments on time. AVGM/W + AVG F/Sa/1/3/15/Tax - AVGT/Th/Holidays 450 400 360 280 220 190 150 99 WEDNESDAY THURSDAY FRIDAY SATURDAY 2 Set realistic goals by adjusting your numbers based on day/date variations. SUNDAY MONDAY TUESDAY WEDNESDAY

  18. Filling In Actuals 1 At the end of each day, enter the actual number of non-renewed customers. GOAL MET OR EXCEEDED GREEN GOAL NOT METRED 450 400 360 280 220 190 150 99 $7,081 $15,003 $22,944 $30,118 $37,557 $43,059 $50,004 399 356 275 210 191 145 97 $7,114 $15,148 $22,987 $31,005 $37,422 $45,007 $51,536 2 Also, your daily revenue goals are automatically calculated for you. At the end of each day, enter the Actual MTD Revenue on the left side of the goal board. MTD ACTUAL REVENUE

  19. Important Notes on Revenue 1 On the 1st of each month, run the Revenue Report Summary in ART. This will give you the Actual MTD Revenue for Day 1. 450 400 360 280 220 190 150 99 $7,081 $15,003 $22,944 $30,118 $37,557 $43,059 $50,004 399 356 275 210 191 145 97 $7,114 $15,148 $22,987 $31,005 $37,422 $45,007 $51,536 2 On Day 2, run the Home Office GAP & Revenue Report in ART. This will give you the most accurate representation of your actual revenue month to date. 3 Each day afterwards, run the Revenue Report Summary in ART to get your MTD Revenue amount. GOAL MET OR EXCEEDED GREEN GOAL NOT METRED

  20. Field Visits 1 30 There’s also a column to record the number of Field Visits per day. The daily goal for field visits is 30. GOAL MET OR EXCEEDED GREEN GOAL NOT METRED 30 30 29 30 32 30 31 30 26 30 30 30 32

  21. Getting Ready for 2nd Cycle 1 RUN the Agreement Analysis to get… BOSS TOTAL CUSTOMER COUNT (15th) 2 RUN the Customer Non-Renewal Count to get… ART OPENING COUNTS (2nd CYCLE)

  22. Best Practices Review • Use DIGITAL GOAL BOARD to automatically calculate your numbers • Transfer your numbers to the DRY ERASE • Set REALISTIC DAILY GOALS • UPDATE DAILY • KEEP HARD COPIES FOR 1 YEAR

  23. Review and Questions ?

  24. M2L1 EXAMPLE

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