Kaymor Machining & Welding Ltd
We realized that revenues are one thing, but our bottom line is even more important! BDC gave us the financial tools we needed to grab the steering wheel in order to become more profitable!
Robert Stegmeier
President
About the company
Offers heavy-duty mechanical, hydraulics, industrial design, and manufacturing, along with machining, welding and millwrighting services.
Location: Grande Prairie, Alberta
Industry: Fabricated Metal Product Manufacturing
Entrepreneur challenge
The company needed a new costing methodology and model to anticipate the cost impact of decisions, gain clarity on operating costs, increase profits and match competitor pricing. As well, the business was seeking to improve financial planning and reporting to make informed business decisions.
BDC expertise
BDC’s financial management experts helped the company implement a costing model in order to achieve its objectives. As well, BDC helped the firm set up a financial management system to improve reporting, monitor performance and support its decision-making process.
Results
- Improved margins leading to increased profitability
- Allowed the company to accurately calculate costs in a timely manner
- Implemented operating budget, performance evaluation report, KPIs and three-year forecasting