ga Success Story A General Aviation & Fixed Based Operator Return to Home Page

ga 2 Success Story A Fixed Based Operator... The following study was done for a Midwestern USA Fixed Based Operator (FBO):  Company BIO Annual Revenues: $7 millionAnnual Revenues: $7 million Multiple Transportation ProductsMultiple Transportation Products Executive Charter (Passenger & Freight)Executive Charter (Passenger & Freight) Air AmbulanceAir Ambulance Flight SchoolFlight School Aircraft MaintenanceAircraft Maintenance Office/Hangar RentalOffice/Hangar Rental Aircraft sales and brokeringAircraft sales and brokering Ground Services: Fuel, Parts, Deicing, and CateringGround Services: Fuel, Parts, Deicing, and Catering Return to Home Page

ga 3 Success Story A Fixed Based Operator...  Challenges: Merge FBO purchase into corporate operating unitMerge FBO purchase into corporate operating unit FBO/General Aviation purchase – new venture for parent AirlineFBO/General Aviation purchase – new venture for parent Airline Corporate structure -- new environment for FBO managementCorporate structure -- new environment for FBO management Automate manual/paper operationsAutomate manual/paper operations Convert hand written invoices, work orders and other customer documents to system generatedConvert hand written invoices, work orders and other customer documents to system generated Replace manually prepared ledgers to an accounting systemReplace manually prepared ledgers to an accounting system Provide decision making information toolsProvide decision making information tools Return to Home Page

ga 4 Success Story A Fixed Based Operator...  Problem definition Lack of management expertise:Lack of management expertise: Integrating company infrastructures Integrating company infrastructures Using or evaluating system automation benefits Using or evaluating system automation benefits Lack of automation:Lack of automation: Paper/cash register inputs for all monetary and tracking activities impaired timeliness & accuracy of operating performance Paper/cash register inputs for all monetary and tracking activities impaired timeliness & accuracy of operating performance Accounting/finance department focused on processing rather than controls and and decision making tools Accounting/finance department focused on processing rather than controls and and decision making tools Planning was not supported with data Planning was not supported with data Return to Home Page

ga 5 Success Story A Fixed Based Operator...  Experts were hired to Evaluate the current situation Evaluate the current situation Provide facts Provide facts Recommend actions Recommend actions Implement recommendations Implement recommendations Return to Home Page

ga 6 Success Story A Fixed Based Operator...  Short term solutions implemented Implemented parent company’s accounting and budget systemsImplemented parent company’s accounting and budget systems Developed and implemented fixed asset tracking systemDeveloped and implemented fixed asset tracking system Created asset acquisition model to evaluate major purchases using discounted cash flows and “buy versus lease” scenariosCreated asset acquisition model to evaluate major purchases using discounted cash flows and “buy versus lease” scenarios Implemented inter-company process to manage financial activities between the FBO and parentImplemented inter-company process to manage financial activities between the FBO and parent Return to Home Page

ga 7 Success Story A Fixed Based Operator...  Long term solutions implemented Evaluated various point-of-sale FBO systemsEvaluated various point-of-sale FBO systems Selected and implemented system to replace parent’s accounting and budget systemSelected and implemented system to replace parent’s accounting and budget system Converted manual accounting processes to new system Converted manual accounting processes to new system Automated customer sales activities: Retail, Aircraft Maintenance, Executive Charter, Flight School & Aircraft Sales Automated customer sales activities: Retail, Aircraft Maintenance, Executive Charter, Flight School & Aircraft Sales Return to Home Page

ga 8 Success Story A Fixed Based Operator...  Long term solutions proposed Automate accounting interface between FBO and parentAutomate accounting interface between FBO and parent Develop Profitability model:Develop Profitability model: Performance evaluations on lines of service Performance evaluations on lines of service “What If ” evaluations: “What If ” evaluations: Budgeting and ForecastingBudgeting and Forecasting Major sales eventsMajor sales events Return to Home Page

ga 9 Success Story A Fixed Based Operator...  Implemented point-of-sale system for all products  Developed models to support accounting, financial analysis and joint FBO/customer investment decisions  Established budget for performance reporting and forecasting Return to Home Page

ga 10 Goss & Associates Facsimile : Return to Home Page