Ahern and Associates introduced the new LTL version of its Financial I.Q. software, which quickly calculates profit and loss statements throughout all business segments.
The introduction of the LTL software comes on the heels of Ahern's recently released freight brokerage software package.
Unlike many programs which only calculate cost estimates or benchmarks, Ahern's Windows-based platform assures that the revenues and costs in each P&L are the carrier's actual numbers in addition to including all direct, indirect and overhead costs, according to the company. Each individual business segment's P&L details total revenue, total expenses, profit percentage, operating ratios and bottom line profit dollars.
Typical segments that are analyzed by the LTL software include individual shipments, shipping points, customers, rates for bids, lanes, routes and terminals-all of which can be computed on either a daily, weekly or monthly basis. The software aggregates the information on one easy-to-read report and ranks the individual segments based on operation ratios, profit dollar and other criteria.
Upon calculating P&Ls for the individual segments, the software also explains why some segments are profitable and why others are not. This cross section of data is calculated by analyzing:
* Base rate revenues per hundred weight, per shipment and per segment.
* Surcharge revenues per hundred weight, per shipment and per segment
* Similar data for total cost and total revenues
Ahern's software tracks cost and productivity separately for pick up routes, delivery routes, stops, cross docks and line hauls. This report includes time data, pounds per man hour, load factors and other productivity measurements. In addition, the LTL software provides a "what if" capability used for measuring the bottom line effect of any changes in rates, cost, productivity, miles per gallon, business volume and other items.
"We've taken the guesswork out of internal analysis for LTL carriers and have provided a tool that paints a clear picture of which individual business segments are best contributing to the bottom line," says Andy Ahern, CEO of Ahern and Associates.
More info: www.Ahern-Ltd.com.
The introduction of the LTL software comes on the heels of Ahern's recently released freight brokerage software package.
Unlike many programs which only calculate cost estimates or benchmarks, Ahern's Windows-based platform assures that the revenues and costs in each P&L are the carrier's actual numbers in addition to including all direct, indirect and overhead costs, according to the company. Each individual business segment's P&L details total revenue, total expenses, profit percentage, operating ratios and bottom line profit dollars.
Typical segments that are analyzed by the LTL software include individual shipments, shipping points, customers, rates for bids, lanes, routes and terminals-all of which can be computed on either a daily, weekly or monthly basis. The software aggregates the information on one easy-to-read report and ranks the individual segments based on operation ratios, profit dollar and other criteria.
Upon calculating P&Ls for the individual segments, the software also explains why some segments are profitable and why others are not. This cross section of data is calculated by analyzing:
* Base rate revenues per hundred weight, per shipment and per segment.
* Surcharge revenues per hundred weight, per shipment and per segment
* Similar data for total cost and total revenues
Ahern's software tracks cost and productivity separately for pick up routes, delivery routes, stops, cross docks and line hauls. This report includes time data, pounds per man hour, load factors and other productivity measurements. In addition, the LTL software provides a "what if" capability used for measuring the bottom line effect of any changes in rates, cost, productivity, miles per gallon, business volume and other items.
"We've taken the guesswork out of internal analysis for LTL carriers and have provided a tool that paints a clear picture of which individual business segments are best contributing to the bottom line," says Andy Ahern, CEO of Ahern and Associates.
More info: www.Ahern-Ltd.com.
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