Objective PerspectiveJune 28, 2017
Sometimes your business needs a fresh set of eyes. As our Senior Managing Partner says to clients, Qorval is in the business of “objective perspective.”
Your business may be in a rut. Perhaps it’s losing money or market share. You may suspect something’s amiss, but you can’t put your finger on it.
Employees, vendors, customers, investors and others associated with your company may have good suggestions to improve your business. But they all have a bias toward their own interests and perhaps their goals don’t always align with yours.
This is where a business consultant can be beneficial. A consultant can take a dispassionate view of your business and give you unbiased advice.
You can probably think of many reasons to use a business consultant, but the bottom line is you want results. Qorval’s experienced team has helped businesses like yours and the firm’s experience illustrates the reasons to use a business consultant.
Detangling the Wires of A Wireless Company
Taking a physical presence in the business as Chief Restructuring Officer, Qorval provided continuity of operations and leadership for an East-Coast private management group holding a portfolio of wireless infrastructure services companies with master service contracts with major cell carriers and cell tower companies in 15 states.
Created $2,500,000 in annual operations (direct, indirect and SG&A) savings reversing a 2-year track record of losses, and keeping the company alive for 12 months to the point where it could source new financing and a new owner.
Qorval led restructuring/hiring of a new team and spearheaded systems conversion to job costing and time tracking modules, and streamlined fleet and facilities consolidated and improved insurance and benefits.
Formulated strategic operating plan for manufacturing and field service installation divisions and consolidated entities. Managed commercial banking and creditor relationships.
Fixing the Furniture Company to Rest Comfortably
A furniture manufacturer engaged Qorval after a new management team contributed to a worsening financial and profitability situation.
Shortly after Qorval was hired, the company closed an underperforming factory, implemented a quality initiative at other factories, secured new financing and worked with sales to open new accounts and strengthen existing ones.
The result was quarterly profits, improved product quality and an orderly liquidation of the business outside bankruptcy.
Keeping Merger Opportunities Afloat
A boat manufacturer hired Qorval to be the “chief integration officer” to merge an acquisition because the management of the company didn’t have any experience with business combinations.
Qorval created integration teams at the boat manufacturer to drive savings, services and changes in the corporate culture. The firm participated and directed in efforts to define the combined company’s strategy and fix deficient business practices such as billing, pricing, facility planning and vendor sourcing.
The result was millions of dollars in savings by eliminating duplicative tasks and a boost in sales from cross-selling initiatives, among other benefits.
Stopping the Bleeding of Red Ink
A public health system hired Qorval because it was hemorrhaging money and was headed toward financial disaster. The healthcare organization needed significant financial and operational restructuring.
Qorval suggested immediate but necessary cuts in expenditures and identified talent to replace the chief financial officer and add the right staff to the finance department. The health system followed Qorval’s advice by halting construction of an ill-timed expansion project and establishing regular payroll audits.
The health care system adopted Qorval’s recommendations and it’s now a model for the community. The public system now has private-sector accountability to sustain it into the future.
Rebuilding Investor Credibility and Printing Profits
A commercial printing company faced lawsuits from investors after its stock dropped 95% and its credit rating had been downgraded.
Qorval helped the company initiate a cost-reduction program and it restructured the organization by eliminating two layers of management, among other solutions. In addition, Qorval helped smooth relations with investors by establishing a control agreement between the adversarial parties.
The result was an increase in market capitalization as a result of a positive execution of the restructuring plan.
Qorval’s experts have decades of experience assisting firms in a broad range of industries. To speak with us, please call 239-430-0303.