Focussing properly on the right things frees up valuable time across the business and creates sustainable cash generation

Identifying the value levers in an organisation brings clarity and a focus on all activities being aligned with building value. Many businesses don’t articulate their value levers and instead focus only on outcomes to be improved, such as profit.

Without a clear understanding of value levers a misalignment may occur. At best, a lack of focus on value levers can lead to activities being focussed on the wrong things, wasting time and money, at worst this can lead to a loss of competitive advantage and failure as the organisation is left behind in the market.

We work with businesses to identify value levers, areas for improved focus, activities and support with implementation. We also focus on a specific goal if required, such as working to maximise value ahead of an anticipated investment or sale of business.

Find out more about our Transformation and optimisation services.

Releasing tied-up cash gives valuable breathing space, freeing up time and reducing pressure on the finance team

Cash is tied up in more than just debtor balances or in stock; the whole picture needs to be considered from both a pragmatic and a data-analytics standpoint. Once the whole working capital cycle is reviewed and the gap is identified, tailored solutions can be identified. These may include supporting arrangements such as implementing asset-based lending facilities or enhanced insurance coverage to mitigate risks.

Operational changes often deliver significant working capital improvements, these include changes to customer debtor collection processes, supplier contracts, shipping and sourcing arrangements.

In addition to identifying practical improvements that can be made, we also build live dashboards so working capital can be managed to KPIs on an ongoing basis, with filters and drill-downs in the dashboard to target activity.

Find out more about our Turnaround and working capital services.

Reducing costs is a controllable way to generate valuable cash and improve profits

Businesses should regularly review their cost base to ensure spend remains effective and lean. However, when costs have spiralled out of control, or are impacting profitability and cash generation, a more in-depth review should be undertaken to strategically review spend.

There are different methods available to help with this, ranging from a simple review of cost categories to in-depth zero-based budgeting, benchmarking and strategic cost reviews to consider how spend enhances enterprise value.

We scale the opportunities based on ease of implementation and impact, while considering any upfront cost to generate a plan to implement and track against. Rather than simply looking at costs to cut, we also complete streamlining reviews, identifying operational process improvements. These range from removing low-value or redundant activities to replacing time-intensive repetitive work with Robotic Process Automation (RPA).

Find out more about our Transformation and optimisation services.

Implementing a project well reduces cost and frees up management time in dealing with issues

Implementation of the project will be more successful if what you are trying to achieve is set out clearly, with related timeframes, roles and responsibilities. Throughout delivery, a Risks Assumptions Issues and Decisions (RAID) log along with regular progress reporting is important, to manage expectations and deal with any dependencies, blockers or risks effectively so that the project is not slowed down or derailed.

Change management is critical and involves dealing with qualitative factors such as culture, and communication. This can often be a greater challenge if project managers focus more on quantitative factors, causing transformation projects to fail at the final hurdle.

At Smith & Williamson, we strategically review, identify transformation opportunities, and support with delivery. Our level of involvement is tailored to your requirements, and ranges from a light touch, strategic support to full project management to ensure effective delivery and properly embedded solutions

Find out more about our Transformation and optimisation services.

Turning around a business reduces stakeholder pressure, management stress and the risk of ultimate failure

A turnaround programme requires careful consideration and implementation, and we recommend this is undertaken with the support of a qualified, experienced professional. Our partners who lead this work are Institute for Turnaround accredited, and we draw on the extensive experience of our colleagues who are licenced Insolvency Practitioners in more distressed situations.

We can complete a 360º business review to identify the best route forward, enabling your board and stakeholders to have confidence in the available solutions and their deliverability. Moreover, we pride ourselves in supporting successful implementation.

Find out more about our Turnaround and working capital services.

A simple structure reduces cost and management time

A complex group structure can increase risks and add cost. Barriers to simplification include a lack of bandwidth to plan and implement the revised structure, the risk of triggering tax liabilities, and missing in-house expertise (for example, only licenced Insolvency Practitioners can complete solvent liquidations).

Smith & Williamson overcomes these barriers by offering organisations a flexible, integrated corporate simplification service which delivers cost effective, lower risk structures and returning capital in a tax efficient way to realise value.

We have extensive experience of successfully providing corporate simplification and post-merger integration support, within complex and regulated UK and multinational groups.

Find out more about our Simplifying corporate structures services.

Proper integration increases management time, reduces cost and generates cash and profit faster

Investment in post-merger integration (PMI) support can be the difference between success and failure to achieve the deal rationale and implement key cultural changes in those critical weeks post-acquisition. It can also materially accelerate the achievement of synergies and capture strategic benefits before competitors have the chance to react.

It is important that integration plans are properly customised to deliver the objectives and value enhancers that warranted the acquisition in the first place. We focus on ensuring the value behind the deal rationale is achieved, and that the integration is enduring and properly embedded.

Through Partner-led delivery, we advise on performance and activities required against the 100-day plan. When issues arise, we provide additional bandwidth, identify solutions and work to bring performance back on track.

Find out more about our Post-merger integration (PMI) services.