Case Study: How a Short Business Improvement Project Saved Our Client 18% in Costs
I’ve written a couple of posts about the benefits of consultants, and the assets they possess which can benefit your business. Perhaps you're still wondering why anyone would hire a consultant, or what difference one would make in your business? I’ll tell you about one of our clients DFO Consulting, and how a business improvement project saved them 18% in costs.
DFO Consulting is a firm of chartered accountants and business advisors based in North London. Established in 2005, DFO focuses on providing support and tailored finance solutions to SMEs and owner-managed businesses.
It had been recognised for some time that the existing operating model needed a revamp. Over the years the company has made steady growth in terms of revenue and resources, and their growing client base and corresponding workload hinted at the need for additional headcount.
Since committing to additional FTE is no small feat (neither is it cheap!), it meant a review of DFO’s operations was urgently needed. After an initial consultation with the firm’s Principal, I spent a few days at the client’s site, shadowing and meeting with key members of the team.
I’m a huge proponent of a collaborative approach when facilitating or managing change in an organisation: if people don’t understand what’s going on, why it’s happening, and most importantly, the impact it will have on their roles, there could well be a detrimental effect on what you’re trying to achieve.
I'm a huge proponent of collaboration. If things are unclear, there'll be a detrimental effect on what you achieve
In the best-case scenario, they are sceptical and less than forthcoming. In the worst case, people have been known to resist change outright, which can cause costly delays and frustration all round. With that in mind, these meetings were essential and needed to be handled with sensitivity.
I reviewed the tasks performed by each team member on a regular basis, and mapped out the processes undertaken. Once documented, it was easy to identify where there were gaps and redundancies, and instances of duplication.
I made key recommendations on the back of this. When implemented these resulted in overall operational savings of 18% - a role which was about to be filled proved to be surplus to requirements!
All this was achieved by the use of core business analysis skills in conjunction with process mapping and re-engineering techniques.
In the words of DFO’s Principal, Samuel Odupitan:
We engaged Mastermind Strategies to map out our existing operating model, recommend improvements and provide input on how we could achieve those improvement. They delivered outstanding value.
The unique ideology Adanna brought to the table meant that we were able to re-define our operations strategy, which has resulted in headline operational cost-savings of 18%.
Her devotion to the assignment was impeccable, and the outstanding results achieved showcased her dedication to understanding my business needs and delivering the results we needed for the next phase of our business's development.
Principal, DFO Consulting
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