Why external assistance to a turnaround process

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.

Contact us and hear how we can help you