Mr. Leo Haller founded Bizmonitoring in 1996 with the vision of helping small business owners achieve a greater level of understanding of their company's financial condition. Before completing his Masters of Business Administration at the University of Texas at El Paso, Mr. Haller had broad experience developing spreadsheet and database applications that enabled the extraction of information from corporate databases in order to obtain relevant information for business decisions.
This experience, together with his graduate professional report entitled "Management Strategies for Business Turnarounds" inspired Mr. Haller to apply his knowledge and experience to helping small business owners understand their business information in order to achieve better performance and detect signs of decline before it is much more difficult to turn around.
At the beginning, the company's focus was in providing business financial analysis, this analysis included comprehensive reports that would show financial ratio analysis, break even analysis, gross margin analysis, cash flow trends, etc. These were very comprehensive reports with 12 month trends, comparison to industry standards and comments. The problem with this approach was that most small businesses did not have good business information available in order to produce accurate financial analysis reports. At that point, Mr. Haller modified Bizmonitoring’s business model. The company would focus on the correct implementation of accounting information systems first and then the development useful and simplified financial analysis reports. It was since 1998 that Mr. Haller has been helping small companies implement and improve the operation of their accounting programs and keep a close eye on their business performance.