Our client, a video equipment rental company recently acquired by a Private Equity (PE) firm, faced significant challenges in establishing expense accountability, improving operational efficiency, and boosting sales generation. To meet the PE firm’s requirements, the client needed to implement a series of business transformation initiatives. The key obstacles were effectively organizing the initiatives, monitoring progress and developing a financial model to summarize the impacts of these efforts. They faced additional challenges as they lacked the internal capacity to support these initiatives, which was exacerbated by a director having to take medical leave.
8020 Consulting’s Solution
Working closely with the client’s executive team and department leaders, we collaborated to establish realistic and achievable goals for each initiative. To facilitate tracking and reporting, we developed individual working files for each initiative, ensuring a comprehensive approach to transformation. Leveraging the existing HRIS, we harnessed labor-related data to create models that tracked personnel changes and financial costs associated with open job requisitions. For travel spend, we utilized NetSuite data to measure monthly expenses by department. Additionally, we consolidated revenue pipelines from various business units to construct a dynamic sales forecast.
To provide a holistic view of progress, we consolidated the individual initiative working files into a comprehensive summary. Regular meetings with department leaders and executives were held to understand the narratives behind the progress made. This approach fostered open discussions, enabling us to identify challenges, celebrate successes and make informed decisions throughout the transformation journey.
Our solution successfully organized the client’s initiatives, fostering productive conversations and action plans focused on business optimization. With a comprehensive working document, decision-makers were empowered to track progress against expectations, while the summary tracker served as a tool for both immediate decision-making and future scenario analyses. The structured data provided valuable insights, enabling informed strategic decisions and driving sustainable growth.
Beyond reporting to the PE firm, our work had a transformative impact on the client’s business. Armed with comprehensive information, decision-makers were able to identify areas for improvement, optimize operations, and make informed strategic choices. Our holistic approach combined collaboration, data-driven insights and comprehensive reporting, and it aligned initiatives with strategic goals, enabling the client to thrive in a competitive market and set the stage for continued success and future growth.