Divisional turnaround across Europe
The Situation
The European division of a leading Data Analytics company had not hit its sales and profit goals, and the MD was fired. New MD wanted me to plan and lead a profitability turnaround programme to revrse the situation, while he assessed the other board members.
The Task
To collaborate with 45 senior managers across Europe, to flush out, prioritise and develop profit improvement ideas, to make the division much more profitable.
The Action / Approach
Worked with the managers to produce a long list of 41 potential projects. Prioritised 9 of them (low spend, fast results) and agreed the list with the board. Worked with the 9 project managers to plan and deliver their projects, whilst reporting benefits and effect on the bottom line.
The Result
Within 6 months, over £30m had been added to the bottom line, for this £100m turnover division. The projects were: cost savings (closing offices), sales acceleration (pushing the sales managers harder) or innovative licensing deals (eg buy a 5 year licence, for the cost of only 3 years, but pay it now).