GC3 MAY EXECUTIVE LETTER
After the cold, long and dark days of winter, the spring season arrives to bring new life and fresh hope to the world. The sun shines for hours and the days get warmer. The air smells fresh and green grass and bright flowers take the place of dormant landscapes. We are finally able to get back to nature and spend time outside again. This is a time of change and renewal.
As we close out the month of April, we reflect on all that has happened over the last several months. Our business has been turned upside down with new leadership and processes. Many of the people we had worked with for years are no longer part of the company. A pandemic, the likes of which has never been experienced in our lifetime, has virtually shut the country down and created separation from all that we know and love. Through it all, we carry on. We adjust. We thrive.
We are involved in many undertakings at the department level and we thought it important for all employees to know what is going on in each department. To that end, here is a brief list of the larger scale projects being worked on by each department:
Finance – One of the first things we committed to the Board was that our financial position would be reported accurately and transparently every month. To achieve this, our financial reporting as well as the processes to collect and input the data required a complete overhaul. Nick and his team have done a great job working to determine what we were doing previously and identifying the areas that need to change in order for us to deliver on our commitment. From real time job cost tracking, to job invoicing we are making changes to better manage the financial aspects of our business. There will be some announcements coming from Nick this month regarding changes to our budgeting and invoicing procedures. More info to follow
Marketing – We continue to grow our business by focusing on our relationships with GuideOne and other carriers. From a GuideOne perspective we are involved in every one of their large claims and there are no other consulting companies being called out to write estimates. Westfield, Integrity/Grange and UFG continue to be the lead our referral sources on new engagements. Continental Western, Selective Insurance and Claims Adjustment Group are new relationships we received referrals from this quarter. As a group, we can all be proud as we are delivering on what it is we said we would with regard to managing the time and expense associated with scoping a project as well as delivering estimates and first reports in a more consistent and timely manner. Doug remains focused on keeping the GC3 brand front and center on numerous media platforms and continues to drive new relationships into the hopper.
Operations – Operations is the hub of our company. Our ability to perform in all other areas is reliant on having a strong operations plan and team. We have made many changes over the past several months and will continue to see changes in this area of the business for some time to come. On the Loss Consulting side of the house we will be working on how to better use technology to continue to drive down the time required to scope a loss while allowing us to produce the most accurate estimate in the industry. To that end we will be working with the LC team to continue to utilize Matterport as our main scoping tool while diving deeper into its capability to produce a virtual walk through scope.
The Project Management team has risen to the challenge of providing more accurate budgets based on Xactimate line item pricing and managing our subs to produce project within budget. We are working on developing accurate schedules to allow us to drive the project to completion in the timelines that have been committed to the customer. Larry and his team are working to identify opportunities to allow Project manager to better manage projects without the need to be on site throughout the duration of the project. Jason has done a fantastic job in managing the estimating functions. We are currently working hard to define how we may be able to utilize outside estimating resources to be able to scale when work load increases while not carrying the overhead associated with a W2 employee.
In a time when a lot of businesses are struggling to remain viable, we have continued to see growth in both consulting and construction. Our productivity and communication has been elevated as we have been forced to adapt to the new normal. In the next few months we will be introducing new ways for tracking our work flow from start to finish which should add visibility and accountability. Maintaining visibility in all we do and being accountable for the results will become the hallmark to our success and drive GC3 to be best in class.
It has been exciting to look back on where we have come from and take stock in all that has been accomplished. While we have much to do, it is important to recognize the wins we have achieved, celebrate those for a minute, then get back to work at all the things in front of us. Without our team we would have no chance of accomplishing all we have. For that, we would again like to thank all of you for your hard work and dedication. All the sacrifices employees have made to ensure the health of our business does not go unnoticed. Our Board of Directors sees the great strides we are making and couldn’t be more supportive and thankful for all of the effort that has gone into our success. We have rocked it thus far but we are nowhere close to being done. Even with all of our challenges, we have the direction and team to make 2020 the best year ever for GC3. Let’s keep that forward momentum going!