30/07/2003

Profitability promise from Invest NI

Companies interested in increasing their profits are being encouraged to sign up for Invest NI's Profit Improvement Programme which returns this autumn.

The programme, which last year produced average savings of £62,000 per company, covers all the key aspects of profit improvement such has procurement, process improvement and cost management. The upcoming course has been enhanced to provide two additional workshops on the topics of customer relationship management and management information systems.

Last year 42 companies took part, with one company, Fin Engineering, achieving an annual cost saving of £160,000 as a result of improvements made to business processes such as invoicing, cost reporting and procurement processes which led to increased competitiveness.

Victor Jordan, Director of Business Improvement Services in Invest NI, said: “To date this programme has been very successful with all the participating companies reporting substantial improvements in profit as a result of taking part.

“The changes we’ve made to the programme will enable us to offer a more complete programme to our diverse client base servicing its varying organisational maturity.

"We’re encouraging businesses from all sectors to consider taking part in the programme, which will help them develop a cost efficiency culture and so become more profitable and more competitive."

The Profit Improvement Programme, delivered by a private sector consortium, runs for nine months and is designed for owner managers or senior personnel. Participating companies are encouraged to be open to new thinking and to involve staff at all levels to ensure maximum benefit from the programme.

(MB)

Related Northern Ireland News Stories
Click here for the latest headlines.

22 September 2005
Sharing improvements across the health service
The importance of celebrating innovation and hard work across Northern Ireland's Health Service has been highlighted today. At a 'Sharing Day', organised by the Department of Health's Service Improvement Unit, 28 projects were on display detailing improvements which have transformed the lives of thousands of people in Northern Ireland.
14 September 2001
Manufacturing companies take part in CE Marking programme
Northern Ireland machinery, electrical equipment and control panel manufacturers are benefiting from a LEDU programme which has brought them the latest information about the European CE Marking procedure.
18 December 2024
Young People Benefit From Sport-Based Community Programme
More than 200 young people in Northern Ireland are set to benefit from a sports-based community programme aimed at creating positive social change. The 'Stay Onside Community Engagement Programme', run by the Irish Football Association Foundation, has received over £58,000 from the Assets Recovery Community Scheme (ARCS).
08 June 2021
New Cyber Security Skill Platform Launched
A new online pilot skills platform has been launched to help people discover and train for a career in cyber security. Launched by Economy Minister Diane Dodds the NI Cyber Gateway Aptitude Programme consists of a variety of online challenges and mini games called 'labs'.
04 April 2014
Capital Expenditure To Increase – O'Dowd
Education Minister John O'Dowd has said the level of capital spend is to increase by more than 60% this incoming financial year.