Industry: Global Industrial Equipment Manufacturer
A $4.5B multinational industrial automation company had grown organically over many years, leading to widely decentralized functions, a heavy overhead burden and slow execution performance. The firm had sold off pieces of its business portfolio, but had not reduced staff functions and corporate overhead commensurately.
We joined an effort in progress to remake the Finance organization, to create a single global function—and to help reshape the other corporate functions (HR, Marketing, Quality, MIS, Logistics, etc.) in a similar manner.
Working with the internal senior executive sponsor, we developed and introduced a range of tools and approaches to help cross-functional and cross-business stakeholders develop and decide on how to achieve effective functional governance and “execution”—in ways that worked to meet performance demands, and fit with company culture. We supported selected functions outside of Finance and geographic regions outside of North America to achieve improved productivity and business growth. Finally, we facilitated senior Finance management strategy development, coordinated “calls to action”, and helped manage overall program and communications.
Net project results – Year 1: $20MM bottom line improvement in Europe, $100MM opportunity identified overall. Financial monthly reporting cycle time performance improved by 35-50%. Overall process headcount declined 25%.