Financial and operational monitoring

When an agreement is put in place it is important that the performance of the service provider is regularly monitored. 

Service performance tracker

Service provider performance

Many of our clients find they do not have the time to constantly check that their service provider is performing according to budget, and is delivering all of the promises that they made in their tender presentation.

Monthly monitoring

Litmus monitors over 150 contracts at any given time to ensure that there are no nasty surprises at the end of the financial year. Each month we undertake an analysis of the following:

• Level of sales
• Cost of sales
• Labour costs
• Sundry costs
• Actual to budget performance
• Management fee

We verify the accuracy and validity of the monthly invoice against data provided by the service provider such as operational statements, purchase schedules, labour breakdowns and hospitality issues. Where variances are identified, they are reported back with suggestions for remedial action.

Alongside this we would review operational performance relating to the service experience.

Congratulations to Mark Beaven ACMA

27th October 2011

Mark has now passed all of his professional management accounting exams and has been awarded membership to the Chartered Institute of Management Accountants.

• Catering for Culture

  24th June 2011

  Litmus Chairman Tim Cookson discusses catering in the heritage sector in the Caterer and Hotelkeeper magazine.