The Importance of Investing in Change

This time last year Illuminet was invited to speak at the Joint ICT Away Day with Thames Valley Police and Vodafone, and our CEO Greg Wood delivered a presentation of the importance of change and the investment in positive change for your business.

So, let’s take it back to 2019, what problems were businesses facing as the end of year approached? “The pace of change is greater than ever before, the need for change is greater than ever before and the consequence of poor change is higher than ever before. Change is the new must have skill for organisations and change advocacy is the must have behaviour” The world of business and the expectations within it are continuing to shift at a rapid rate.

Now fast forward to the present and we seem to be facing the same issues but throw in the added difficulty of thriving during these uncertain times and a whole new way of working remotely. Businesses are confronted with challenges and questions they may have never had to face before, resulting in the idea of change to be a very daunting step forward for many businesses. The many unknowns of the pandemic- such as an end date, threats of delayed waves and the yoyoing of supply and demand making it extremely difficult to adjust and plan for 2021. However, a rapid response to the new normal is required and change advocacy still remains the ‘must have behaviour’ to position your business the best it can be going forward into 2021.

For many businesses cost management is a crucial imperative to be on top of. However, with the disruption of covid-19 for many cost performances structurally hasn’t been at the top of the priority list. As a result, cost, operating models and business models have drifted apart. Many businesses have understandably adopted immediate short-term actions to optimise cash flow. However, as we start to see some light at the end of the tunnel going into 2021, we believe a more structured approach going beyond the immediate cost saving is vital to securing a competitive position that safeguards your business for the future.

To support other businesses with securing this position going forward, we have put together an example solution we call ‘The Big Cost Transformation’- a roadmap to radically improve your cost position, sustainable productivity and a leap forward on automation.

The Big Cost Transformation envisions an 8-month programme to success:

 

  • We would start with the 2-week Cost Reduction MOT with cost experts at Grasshopper Ant to deliver 4 pillars of excellence: simplification, optimisation, de-duplication and automation. Providing a comprehensive report on your spending and opportunities for savings.
  • Week 3 we start our 3-month Productivity Accelerator/Process Improvement Spin Cycle to begin delivering improvements to cost processes.
  • Month 3 alongside the Spin Cycle we deploy a Tiger Team of 1 Project Manager and 5 Analysts for 6 months to drive our as many cost savings as possible.
  • Month 5 we deliver your RPA centre of excellence with 2 RPA experts to enable automation and to kick start your journey towards improved productivity, cost and service.

The Big Cost Transformation is a roadmap designed to support businesses by giving them the confidence they need to invest in positive change in a climate where the pace and need for change is still, if not more important than ever. If The Big Cost Transformation sounds like a journey your businesses is ready to embark on, then get in touch and we will be more than happy to offer guidance on where to begin, and fully support your business to achieve an improved strong cost position.

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