Our turnaround process begins with a focus on stabilization. This includes stabilizing the organization, customers, suppliers, and its lenders.
In-depth financial and operational analysis is completed to understand the firm's capabilities, its strengths, weaknesses, and cash flows. These investigations target "quick-hit" immediate solutions aimed at halting cash burn caused by nonessential activities not contributing to maximizing revenue and improving profits.
Next we determine if it is necessary to restructure financial obligations to match cash flow requirements and address issues of lender fatigue.
This is followed by methodically reviewing the overall market strategies,
sales policies, growth opportunities, and your product and customer profitability. Our analysis looks to identify those product lines and customers that contribute positively and the others that are underperforming and contributing to the problem.
Operations will be challenged to identify ongoing cost savings by closely evaluating operational process flows, reorganizing how work is conducted, modifying pricing of products and services, or simply finding ways to better serve customers.
Finally the "Art" of turnarounds involves people, their emotions and motivations. Everyone reacts to crisis situations in a different way. We are keenly focused on the impact change and restructurings have on a team. Business improvement does not occur without their support.