Turnaround

Most companies will in their lifetime require a turnaround. Either through a slow and hardly noticeable challenge or driven by internal or external crisis (e.g. the financial crisis or the Covid-19 crisis).

Fortunately, the need for turnaround does not occur so frequently – implying that the companies rarely have high experience with the turnaround process. And when a company is performing poorly and need to improve, then there is indeed a requirement for extra and experienced resources to manage the task.

ProvenExperience can help – because we have been in these situations before.

We offer:

Each turnaround situation is different, but typical tasks are amongst others:

• Create overview of current run rate – in particular to evaluate the cash flow requirement. And to prepare a list over short-term initiatives to start negotiations with all relevant parties.
• Here and now tasks:
  • Reduce working capital – and trim the organization.
  • Sale of/leasing of assets (buildings, equipment, vehicles).
  • Negotiations with suppliers.
• Long-term initiatives:
  • Sales growth initiatives – including new markets and new sales channels.
  • Innovation.
  • Closure/outsourcing of non-profitable products and markets.

Advantages by using ProvenExperience:

• Very fast onboarding – we only use senior managers with relevant experience from similar positions.
• We are embedded in the company – and become part of your management team.
• Short-time contracts and short notice periods = flexible costs for your company.
• No indirect or hidden staff costs – everything is included in our rates.