A $650 million agriculture, food and beverage manufacturer approached Waypost Advisors after an internal audit of their North American business revealed missed opportunities for business growth and optimization. After fixing the problems for which they already had internal solutions, they approached Waypost to engage a process improvement resource to assist with follow-up of the initiative leaders, project status update documentation and performance metrics to ensure progress of initiatives.
Upon engaging the Waypost team, internal interviews uncovered that the issues were far more than surface level, and ranged from accounts receivable to gaps in sales management and beyond. Ultimately, it was uncovered that many key processes across the business were not defined and/or stakeholders in the business were not aware of their existence.
Key initiates identified:
Contract Management (Company-wide including sales, accounts payable, and customer service)
Accounts Payable/Receivable (Invoicing/contract discrepancies, communication gaps)
Forecasting (Communication gaps, invoicing and sales)
For each of the key strategic initiatives, Waypost delivered a roadmap that allowed the stakeholders to understand the resources impacted and required, the timelines to implement, the stakeholder management, the cross functional interactions, and ultimately how to prioritize for more effective implementation.
As a result of process implementation, a monthly scorecard of customer performance was initiated, allowing the sales team to drive growth by aligning KPIs with new Contract standard operating procedures. A customer segmentation plan was created with the goal of focusing on more profitable partners and customer relationships. This allowed the business to determine who to service in tight supply environments. Additionally, Waypost evaluated the reporting structure of the Transportation and Customer Success Teams to alleviate communication gaps, resulting in avoidance of future invoicing and customer service issues.
“Waypost’s input was faster and more detailed than an industry leading consulting firm we previously hired.”
-Director of Finance & Accounting
This is the experience our Advisors can bring you.
Want to learn more about how you can drive impressive business performance at your Company? Contact us at info@waypostadvisors.com, or check out our Services & Expertise.