Paul Worsnip, Lexis Nexis
“FD Centre’s insight and understanding of our business provided us with the capacity to outsource a ‘business development opportunity’ whilst continuing to focus on internal priorities, at a particularly pressurised period of the financial year.
FD Centre were able to integrate their work on this project, with internal resources to deliver a report containing high quality, insightful findings which exceeded our expectations and delivered a significant cost saving in terms of scope objectives.
There is a fine line between organisational effectiveness and cost reduction as this could be damaging to the organisation in the long run. The FD Centre’s independent approach encouraged company-wide participation and assisted us in adopting pro-active position for reporting these initiatives to key stakeholders.”
Paul Worsnip, Lexis Nexis
Our client Lexis Nexis is a provider of content-enabled workflow solutions to professionals in law firms, corporations, government, law enforcement, tax, accounting, academic institutions and risk and compliance assessment.
We were called in to undertake a company-wide review of their cost structures and identify opportunities for cost reductions within the organization over the next 12 months.
In all, 74 new ideas that require planning & implementation are being investigated and 6 ideas have the potential to deliver savings of over R 1,1 million in the next 12 months. A further 14 ideas are considered as having high potential for savings in the next 12 months but will require additional work to assess and implement.
Effective cost management is a critical component of achieving financial success. There is a fine line between organisational effectiveness and cost reductions which may be damaging to the organisation in the long run. The independent approach encouraged organisation wide participation and assisted us in adopting a pro-active position reporting these initiatives to key stakeholders. FD centre provided us with an outsourced Executive perspective in prioritising the ideas generated and clarity in decision making relating to implementation of the ideas generated.
In another instance we were called in to undertake an investigation into the sales commission and royalty system to confirm compliance with policies & procedures. We completed the requested investigation and reported on all findings within the timeframes required.
FD Centre were engaged at short notice following a matter which called for direct FD attention whilst conflicting with internal bandwidth and priorities. It was comforting to know that resources were on hand to respond to the request whilst allowing the Executive time to continue to run the business. The flexibility in reporting and frequent realignment of work plans added to the quality of work delivered, at a fee which accommodated our non-operating budget constraints.
We have also been closely involved in the Assessment & Selection of an e-Learning Authoring / Course Development Tool and Learner Management System
We completed the assessment and made the selection, submitted and presented a report-back to the Executive Committee.
One of the biggest challenges we face as a business is the level of expectation placed by key stakeholders on Executive bandwidth and the need to balance day-to-day strategic and operational priorities against new opportunities and initiatives which require investigation and review. FD Centre’s insight and understanding of our business provided us with the capacity to outsource the business development opportunity whilst continuing to focus on internal priorities at a particularly pressurised period of the financial year. FD Centre were able to integrate their work.