KPMG Nigeria
professionals are working with organizations that are already considering how
to have the upper hand when recovery comes.
Are you putting in place the building blocks that will
make your organization perform more effectively when the economy recovers? Successful
organizations are using this time to transform their business, balancing the
critical levers of cash flow — cost, investments and revenue to achieve
sustainable business performance.
There are three key aspects to consider.
1. Obtain accurate information to drive business insight:
Any business today needs to have confidence in the data
that's used to report financial results, set future performance expectations,
evaluate risk and understand customer interests. By creating standards,
disciplines and governance around data that goes all the way down to the item
level, and by using technology effectively to access it in real time, business
leaders and managers can trust that the information they use to make decisions
is as accurate and insightful as possible.
2. Navigate the complexity of business enterprise and make the
needed structural changes:
Leaders so often turn to quick wins — swapping tap water
for bottled water; eliminating non-essential travel and the like — with little
regard for their efficacy, lasting impact or unintended consequences. Instead,
go below the tip of the iceberg, navigating the complexity inherent in the
business, to make needed changes to the business model that can have a lasting
impact. Take advantage of technology that can enable the business to run more
efficiently. Review the overall people strategy in order to meet future talent
and skills requirements. Ensure your procurement process is actually adding
value by saving time and costs, rather than creating fragmented purchasing and
black holes of spend.
3. Focus on sustainable performance:
Find and retain the skills you need. Build disciplines and
processes that allow you to be in control of the business. And understand how
to harness risk to your advantage. Be bold. If not now, when will you make
major changes that could transform the way that you operate? In the past there
was perhaps too much focus on refinancing rather than re-engineering, now is
the time to make considered and sustainable change.
Consider the organization as a single unit. It’s not about
how to make HR or IT run more efficiently but how to make the business, as a
whole, more efficient over the longer term. Stay the course, embed the right
behaviors in your business and look to a more sustainable and profitable
future.
Contact
Us
Lagos
KPMG Tower,
Bishop Aboyade Cole Street Victoria Island
Tel: +234 9068459329
Abuja
84, Kwame Nkrumah Crescent,
Asokoro Abuja. FCT.
Tel: +2349062278732
Website - https://home.kpmg/ng/en/home.html
Visit Link - https://kpmg.com/ng/en/home/services/advisory/management-consulting.html
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