Case Studies - updated February 2012
Our case studies are relevant to a clients sector and project only as we keep the nature of any projects we have undertaken for our clients in total confidence.
Please let us know your sector and nature of your project and we will provide you with the information you require.
Some of the Assignments in 2012 ..so far..
Specialist Engineering:
Profile: The Directors secured the services of Prompt Interim to assist in a number of areas in the business after a period of strong growth. Projects undertaken included: Review of the MRP reporting system to improve both stock turn and contribution by component / customer. Production of intregrated financial tools for weekly cash management, consolidated monthly management accounts. New KPI reporting systems.
Construction :
Profile: Highly regarded ground works business urgently needed project costing and operational control systems to improve overall performance. Prompt Interim worked closely with the Managing Director to help secure new lines of funding, together with much improved financial and operational reporting systems.
Some of the Assignments in 2011 ...
New approach to Eye Healthhh Care:
Profile: Partners of a leading South West Opticians business asked Prompt Interim to assist them create a unique Eye Health Care Patient Plan. Previous experience in this area allowed us to work closely with the Partners and senior management team to create for them a patient plan offering eye health care, spectacle insurance, interest-free monthly membership and product purchase options (see www.iris-visioncare.co.uk). The resulting membership plan is being trialed over several practices in preparation for a national roll out to independent opticians.
Coastal Marine Surveys:
Profile: A leading UK Coastal Marine Survey business encountered a difficult period of trading as a result of delays by the Port Authorities in releasing survey licenses due to changes in legislation within this sector. This had been compounded by limited access to key equipment, which had historically been rented. Prompt worked alongside the Directors to produce forecasts establishing the working capital demand and future trends which resulted in the business securing crucial working capital from their existing bank. As a result the business has continued to secure new projects in the ‘renewables’ sector and is trading out of its cash squeeze.
Leading South West Leisure Resort:
Profile: Group of Companies operating an integrated leisure resort with lodges and high quality properties for rental or purchase. Prompt Interim were called in to assist when the business strategy came under pressure due to delays in the build program.
International Electronics Business:
Profile: Leading UK specialist in Semiconductor manufacture. After a period of company restructuring the business needed strong financial reporting tools to aid discussions with banks and investors. Prompt Interim worked closely with the Board of Directors to produce short term financial forecasting, longer term strategic forecasts, and robust KPI systems.
Commercial Vehicle and Domestic Car Recovery Business:
Profile: One of the UK's largest independent vehicle recovery businesses was encountering financial and operational trading problems. The Bank introduced Prompt Interim who assisted the Directors in both operational and financial restructuring. Through very close monitoring of the various operational aspects of the business day to day savings have been achieved. Further work is still ongoing to achieve additional operational performance.
Airline Industry: Electronic Point of Sale (EPOS):
Profile: This company provides many international airlines with EPOS systems to both manage inventory in the air and at airports. The business had experienced good growth due to the global expansion of budget airlines but as a consequence urgently needed systems to monitor WIP and associated contracts. Prompt Interim worked closely with the Directors and senior managers to put in financial control systems that will ultimately lead to a more efficient approach to product development and system implementation.
Hotel and Leisure:
Profile: The Partners of a medium sized hotel and leisure complex saw the opportunity to develop a site through additional building and further accommodation. The Partners together with the bank needed greater visibility as to the viability of the idea and its cash impact. Prompt Interim carried out a feasibility study which aided this process.
Recent Assignments undertaken in 2010...
Car Franchise: Main Dealer for Renault & Nissan:
Profile: One of the leading Renault and Nissan franchisees in the South West of England requested Prompt Interim assist its Directors to develop a strategy to help transfer the business to new ownership. After a difficult trading period resulting in both Nissan & Renault giving notice to terminate their franchises the directors wanted a smooth transition of the business to new owners.
Please click here for press article.
Food Producer: supplying main supermarket sector:
Profile: A highly regarded food producer supplying product to all the main supermarkets was experiencing a difficult trading period. The Board asked Prompt Interim to review a strategy it was considering adopting in light this poor trading period. Our initial “high level’ strategic review pinpointed the areas where further work was required, and could be done, to improve both the enterprise margins and cash cycle. Prompt Interim worked with the Managing Director assisting in developing a robust three year strategic plan to align the business with the aim of increasing both market share and profitability.
UK Property Portal: Profile: Leading figures in the property sector brought in Prompt Interim to work up a forward strategy based on an intercompany network where independent estate agents would benefit from increased lead generation and share ownership.
Giftware and Promotional Products:
Profile: After good growth the Director and Senior Management of this company realized they needed more robust financial forecasts to help value WIP and the cash demand of the business. Prompt Interim is currently producing an integrated financial model to give greater financial visibility for the next 12 months.
Office Supplies: One of the largest Independent office stationers
Profile: After encountering difficult trading and working capital restrictions he Board of Directors of the group asked Prompt Interim to assist the senior management of the company. The trading problem resulted from the acquisition of a print works and stationery business in Cornwall and a stationery business in Berkshire three years ago, combined with the implementation of a new “Enterprise” computer system. The acquisitions had been funded through debt leaving the Group very heavily geared.
Prompt Interim put in cash flow management systems and negotiated with key suppliers to enable the business to successfully trade whilst a longer-term solution was established. Working closely with the Directors, Bank, PWC and key suppliers, Prompt Interim implemented a two-stage plan.
Stage One: Resulted in the successful sale of the Berkshire operation in early February to a major Plc within the sector.
Stage Two: The remaining Group was sold in mid April. The sale created the largest independent office stationers in the UK. The strategy maximized business value and protected the employed staff.
Specialist Business: providing building resources to the major insurance companies in the UK
Profile: After rapid growth over the previous 12 months this business needed robust financial forecasting tools to assist with working capital requirements. The Prompt Interim team is working with the Directors to ensure the type of projects undertaken and customer mix is managed to minimize working capital demand whilst growing profitability. As well as producing a detailed integrated financial forecast, operational system have been established linked to KPI monitoring systems. The business has generated modest profits after a period of heavy losses.
UK Food Producer
Profile: After a period of trading losses the Directors asked Prompt Interim to work closely with their business to give the bank comfort that they would deliver the agreed strategy going forward. Prompt Interim work closely with the management team on a weekly basis and are assisted with re-banking.
International Shoe Designer and Retailer: Oliver Sweeney
Profile: Oliver Sweeney International shoe designer and retailer suffered difficult trading due to the down turn in high street sales. The core economics of the business were made worst by the euro exchange rate, as their shoes are produced in Italy. Prompt Interim worked with the Board and developed a strategy which enabled the business to be restructured and sold to Amery Capital. See www.oliversweeney.com
Supplier of specialist Material to Construction Sector
Profile: The business delivers specialist material to the construction sector using fleet of specialist vehicles. Due to the weakening activity within the construction sector the business needed to urgently restructure its asset finance and overheads. Prompt Interim prepared bank papers and worked with the Directors and developed a survival plan.
Specialist Health Retailer
Profile: Specialist group of retail outlets supply services and products to NHS patients and the private sector. After initial refinancing and strategy development, Prompt Interim has worked with the Senior Management team to re brand the group, together with an integrated marketing program including radio advertising.
Engineering Manufacturer
Profile: After initial financial restructuring Prompt Interim is working with the Senior Management Team to produce new productivity bonus systems and establishing a marketing program.
A few of the assignments undertaken during 2009.
Fashion Designer and Retailer
Profile: Due to the weaken exchange rate and declining high street foot fall, Prompt Interim was asked to assess the ongoing performance of this business. This included looking at reducing the cash cycle through supply chain changes as well as structural changes in financing and store by store viability.
Specialist Health Retailer
Profile: Specialist group of retail outlets supply services and products to NHS patients and the private sector. Due to working capital pressure the bank requested that Prompt Interim work alongside the management team to review its operation to establish both profitability and funds flow. Initial work undertaken has established sector, product and outlet profitability. This project is ongoing.
Engineering
Profile: After initial financial restructuring Prompt Interim is helping the senior management team focus the business on the government sector due to the economic down-turn in their traditional markets,
A few of the assignments undertaken during 2008.
Property Developer
Profile: Prompt Interim was asked by this large scale residential and commercial property development company to carry out an in depth feasibility of a rental team compared to discount selling. The review also evaluated deferred ownership payment schemes to speed up repayment of senior bank debt.
Hotel & Leisure
Profile: Struggling hotel / Inn asked Prompt Interim to review options to improve both cash flow and profitability in these difficult trading times. The Management team has taken onboard many of the suggestions and has successfully re negotiated bank funding.
Retail
Profile: Retail business selling quality appliances to domestic home sector, asked Prompt Interim to look at how the business could be structured to improve sales and cash flow. Initial proposal included leveraging off a leading brand to develop awareness in Devon’s refurbishment house market, combined with revised supplier terms.
Engineering
Profile: Engineering Business needed to urgently refinance due to changes in sales and customer profile. Prompt Interim carried out sales analytical data, included projected cash flow, P & L and Balance sheet. Worked with the management team to produce a business plan, including a structured approach to organizational and operational changes. The existing bank agreed to increase their facility and a new investor was found to enable the business to continue to trade out of their difficulties.
Online Food Retailer
Profile: We worked with management team of this innovative online food retailer (high profile TV celebrity chef) to create a business strategy including all aspects of the business economics. Prompt Interim helped the team develop on and off line marketing and sales strategies. Business has been successfully launched in Devon, Dorset and South West London.
Commercial Building Contracting
Profile: Prompt Interim was able to help by setting up supply agreements with key suppliers creating a cash neutral supply chain. The strategy was to enable the business to develop and grow in a sector that was undergoing very difficult trading.
