31 Aug 2018
As business transformation specialists, we’ve worked with a number of companies from various sectors, including chemical, pharmaceutical and manufacturing, helping to improve performance, inspire cultural change and facilitate sustainable success. In June 2018, one of our customers – SUNTEC, a leading pump manufacturing organisation – was awarded Class A in Integrated Business Planning (IBP), with the company on target to close the year with a turnover of over €25million.
However, just two years ago, SUNTEC was on the brink of complete dissolution; a lack of teamwork, an autocratic style of management and years of detrimental operational practices resulted in SUNTEC declaring bankruptcy in the summer of 2016. Despite a stellar reputation, SUNTEC was struggling to balance its books, as it was unable to obtain accurate figures for sales revenue, whilst hasty expansions and poorly-run subsidiaries ate away at cashflow. There was no transparency, with SILO ways of working ingrained in company culture as co-operation gave way to conflict and disagreement.
Enter, Oliver Wight. Brought on board by Laurent Chevalier – SUNTEC’s shareholders fund manager turned SUNTEC CEO – we worked with SUNTEC to design and implement an improvement programme aiming to increase visibility, increase collaboration and increase profits. Over two years, SUNTEC embarked on its transformation journey – guided by Oliver Wight consultants but led by its own people, SUNTEC implemented Integrated Business Planning across the organisation.
SUNTEC’s journey wasn’t without its trials and tribulations; because it had declared bankruptcy, it had it had to periodically and visibly demonstrate to the courts that it was improving to avoid total liquidation, adding another layer of pressure. Additionally, the US subsidiary was initially hesitant to fully embrace integration, although communications between the two sites now run more smoothly than ever before.
Now, having achieved Class A, SUNTEC can begin to plan for its future. It plans to utilise its resources to explore untapped opportunities for growth through diversification, product expansion and external growth projects.
Laurent Chevalier, SUNTEC’s CEO, credits Oliver Wight’s transformative philosophies in helping cultivate the right environment for change, as well as helping its people to implement processes to enable better ways of working. He says, “The implementation of IBP helped the team to gain confidence in their capabilities and control of the operations, as well as help the team grow in maturity. The management experience of the Oliver Wight consultants has been integral in SUNTEC achieving Class A in IBP.”
SUNTEC’s Class A IBP programme was led by Oliver Wight consultants Catherine Schmitt-Weber and Flavio Pietrocola.
If you’d like to read the full case-study, you can download it here.