By Curt C. Anderson, Alternate Director, PAR, Ltd.
See a penny, pick it up, and all the day you’ll have good luck.
A penny saved is a penny earned.
Today’s economic environment seems to have improved the standing of the lowly penny as firms in every industry strive to balance cash-strapped budgets. Your firm is likely making some type of cut-backs, even if only as a precautionary measure. Smart move -- as long as your budget reductions are balanced by a keen awareness to the long-term consequences you are establishing at the same time.
Any changes you make to your operation in the coming year can be screened through the principles espoused by PAR so that you maintain your levels of superior client service and avoid unnecessary exposure to E&O errors. It certainly can be achieved, and PAR stands ready to help you with such a process.
In addition, be sure that as you address the new year with budget-conscious clients that you emphasize the value your firm provides, including the outstanding procedures you have in place through PAR. The Quality Management Program’s principles not only protect your own firm from unnecessary E&O exposure, but also extend protection to your clients. The structured nature of the QMP also serves to streamline account procedures, improves communication, and develops continuity. While it may be difficult to attach solid dollar numbers to such, the improved efficiencies extend true savings to both you and your client in the long run.
The firms which count themselves as PAR insureds are truly some of the best in the business. Your commitment to PAR serves as testament to your sound business practices and reinforces the very foundation of long-term success -- including discipline, client focus, innovation, and thoroughness. Not only will PAR agencies weather the storms ahead, but adherence to PAR’s sound, proven practices will keep you positioned and ready to claim even greater growth when markets surely rebound in the future.
