aUSTRALIA
Accounting Firm
The backstory
The merger of two Divisions to create greater operational efficiencies, shared resources, cost savings and better quality output for clients.
01
The challenge
- Lack of strategic clarity and alignment.
- Operational inefficiencies and lack of consistency with processes.
- Average quality controls with frequent errors.
- Focusing on low and negative GP contribution clients – across the firm they were profitable, however the Divisions were allocated the losses.
- Lack of internal controls, policies and procedures.
- Lack of employee accountability and responsibility. Vague deadlines and output deliverables.
- Low employee productivity due to lack of leadership and monitoring.
- The Divisions had extremely high turnover.
02
Our Solution
03
Results
100%
retention rate
- Created a Strategic Plan for Engagement for the team to have a clear roadmap.
- Increased Net Profits under 11 month period.
- Contributed towards sales and cross selling from networking, upselling service offering and identifying opportunities, e.g. R&D and tax compliance.
- Increased Gross Profit margins per client through better scoping of services and / or amendment of the scope and pricing.
- Provided real live data for Management to take immediate action as required.
- Improved client satisfaction through better quality output and consistent processes streamlined across the Divisions.
- Greater productivity due to clearly defined roles, responsibilities and accountability through KPI reporting and performance appraisal reviews.
- Faster delivery of client deliverables with improved process efficiencies.
- Improved employee performance and engagement with nurturing leadership and a constructive improved culture.
- Growth accelerated with strong foundations and confidence to continue on their journey with the team well equipped to achiever great heights.
- Greater confidence of the team across the Practice as a result of the implementation of a review system and improved internal controls environment.
- 100% retention rate on employees hired by Tranquil Consultancy which was based on rigorous multiple interviews and on the spot competency testing.
