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New financial management section boosts power of NAPL WorkPlan for Success

Press release from the issuing company

Paramus, N.J. –  The National Association for Printing Leadership (NAPL) has expanded its unique WorkPlan for Success business development program with the addition of a powerful new Financial Management segment that gives its members access to a number of industry-proven financial performance methods and tools.

Launched earlier this year, WorkPlan for Success is built upon the best practices identified through NAPL's highly respected Management Plus System. It includes guidelines, step-by-step instructions, and interactive applications for implementing today's most effective graphic communications management practices and policies. The new Financial Management component joins the Strategic Planning and Sales Management units introduced this summer.

"NAPL believes strongly that achieving and then maintaining a high level of profitability is greatly dependent on disciplined financial management," says NAPL President and Chief Executive Officer Joseph P. Truncale. "The Financial Management portion of our growing WorkPlan for Success program now puts the tools for implementing such financial discipline into the hands of every NAPL member in a format that is not only clear and readily accessible on demand, but very user-friendly and easy to put into practice immediately."

The new section begins with an overview of disciplined financial management practices and provides detailed instructions on measuring performance-financial statements, ratios, P&L statements and balance sheets; benchmarking with NAPL Performance Indicators; and managing performance using budgeted hourly cost rates and cost sheet calculations.

It also covers how to use dashboards of critical indicators, offers ways to improve the cash flow process from inventory management through debt collection, and includes equipment justification/ROI analysis and insights on gaining funding for growth.

"Management Plus companies have shown over the years that superior profitability is almost always the result of an unwavering commitment by an organization's management to controlling every aspect of its financial performance," notes NAPL Senior Vice President William F. Woods Jr. "The materials available in the WorkPlan for Success Financial Management unit have been designed to give NAPL members the financial management controls and processes, which, when properly executed, can help lead them to Management Plus levels of excellence."

Accessible via the members-only section of NAPL's website, WorkPlan for Success is continually updated with new information and worksheets as needed. Users may download an entire section or select a separate pdf version of any individual chapter.

"WorkPlan for Success is a 'do-it-yourself' tool, but we are helping our members familiarize themselves with it by presenting a series of free webinars that introduce different sections of the program and walk them through various exercises or worksheets," says Woods. "During these programs, members will be able to talk with NAPL experts who will help them get the most from the program's many features and tools-and, of course, our NAPL Business Advisory Team is always available for additional one-on-one assistance."

The first three sections of WorkPlan for Success-Strategic Planning, Sales, and Financial Management-are available on the NAPL website, www.napl.org. Additional sections-covering human resources, marketing, and operations-will be rolled out in coming weeks, and the full program will be demonstrated at the NAPL booth (#2261) at GRAPH EXPO, Oct. 3-6, in Chicago.

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