CTS

Comprehensive Turnaround System

 

Overview

The Australian economy has been in the highly enviable position of not having suffered any major or significant economy troubles in over a decade. However, economic cycles are a fact of life, and when you consider that businesses are often planning 6-12 months ahead at a time, sudden and abrupt changes can catch many businesses, even well-run ones, off-guard.

 

For businesses hit hard by the shifting market conditions, the transition can be very jarring. For businesses that have only been in operation in the last ten or so years, it can be doubly more so, as the business is yet to have had its stress thresholds tested to the limit. And with no history and prior experience to rely on, it can be very difficult for management to know what critical actions need to be taken to protect the business until conditions improve again.

 

It is at this point that many businesses attempting to turn themselves around make mistakes that have a severe impact on the business. Common examples include:

  •  Inaction or delaying decision-making, hoping for an imminent turnaround in conditions
  • Taking action which has too little impact, or the wrong type of impact, on the business
  • Taking inappropriate action that damages the core assets of the business
  • Adopting a “Me-Too” approach to changing the business (e.g. significant price cuts in line with competitors)
  • Not establishing proper frameworks and procedures to monitor the revenue and expenses of the organisation
  • Mishandling of any cost cutbacks or redundancies that may be required, resulting in further, unnecessary damage to the business

 

When the future of the organisation is at stake, the wrong decisions and the wrong choices can make the difference between the survival or collapse of a business. The resulting hurt and stress on your staff and their families, in addition to the costs associated with closing down an insolvent business, can often mean that letting a business wind-down can be just as costly as taking the necessary measures to ensure its survival.

 

For businesses that are facing the prospect of a difficult period ahead, E&W Strategic Partners can help you to look at ways to turnaround your business, to identify the non-core or non-performing areas of your business, and make the hard decisions, the painful decisions, and the right decisions, to turnaround your business and put the survival and continuity of your business at top priority.

 

With our expertise and background in management consulting and business transformation, and the professional network to ensure you are supported in all areas of your business, from financial management, to managing redundancies, E&W Strategic Partners can help to turn your business around and stay afloat, ready to go again when the time is right.

 

Key Benefits

  • Beyond Finance – Other turnaround services (usually those offered by accounting professionals) only address the financial performance of your business. In addition to your underlying financial performance, we also look beyond the financials to identify how we can turnaround the performance of your entire organisation.
  • Immediate Results Plus Medium-Term Solutions – Our immediate goal is to deliver you solutions that will give you immediate financial results in order to keep your business operational. Additionally, we also look at a mix of other solutions that will keep you ahead of the game for the next 12-24 months until conditions improve.
  • Flexible & Affordable – We know that during such lean times, cashflow can be tight. We can offer you a range of fee options to help better manage the cashflow of your business.

 

If your business has been impacted by the downturn, please contact us for a confidential discussion on how we can help turn your business around and get it back on its feet.