How analytics is a core ingredient in modern turnaround
SUMMARY:
Businesses in the midst of a turnaround or performance improvement initiative are always looking for opportunities to maximise value and drive success. Time and value can often slip away. To help address these challenges, we use data analytics and visualisation to better manage expectations and business outcomes.
Remember the days when spreadsheets were only used by specialist teams? Sometimes in lonely corners of the office, and misunderstood by other colleagues? Well, everyone else has caught up – and navigating spreadsheets and unlocking insights to drive faster and better business decisions are core skills in most roles.
Similarly, business leaders usually associate data analytics with specialist teams, often in IT or BI functions. These teams typically drive development of foundational databases and bespoke analytics requests. These are important to any turnaround, but without financial expertise the outputs are often not as focused on driving financial value. And this comes with miscommunication between commercial and technology teams, which in turn results in lengthy projects.
Key ingredients to turnaround success
In a turnaround situation, and in times of underperformance or uncertainty, several factors are critical to success: a deep understanding of financial drivers, speed to insight, pragmatic decisions, swift action and pivoting with change.
This is where modern approaches to analytics can provide rapid actionable insights. Combining analytics skills with financial expertise is the key ingredient.
Being part of the world’s leading professional services firm has allowed our team to increasingly invest in analytics and technology for over seven years. Our financial professionals have extensive training and experience applying analytics in these situations, enhancing the way we support businesses, owners and lenders with capital challenges and to create value. We continue to evolve our approach with technology, data scientists, and innovative assets to accelerate and sustain profit and cash improvement.
Top 5 reasons clients find value in our analytics
Our clients find value in our analytics-enhanced approach for several reasons, including:
- Connecting financial value drivers to deeper operational levers
- Rapidly and collaboratively identifying issues and opportunities
- Streamlining performance monitoring to continually prioritise focus on the most important value drivers
- Ensuring operational action best impacts revenue, cost and capital, and
- Aligning senior stakeholders with interactive dashboards based on a detailed fact base.
During these times of uncertainty and financial challenge, knowing which profit and cash drivers to drill into and applying pragmatic data analytics with visual and actionable insights is what brings rapid confidence to decisions. This gives you the edge in improving performance and gaining support from capital providers.
