The financial services industry is facing a digital revolution, and Bene Agere has given us the tools we need to master the future

«Our industry is facing a digital revolution with changes in customer behaviour and a value chain that is challenged by new entrants. Bene Agere was a natural partner when The SpareBank1 BV Group was developing and implementing a strategy to meet the future. I have worked with Bene Agere for several years and the strategic roadmap applied by Bene Agere is very effective when a company needs to review and re-align the entire business.

Their strategy process and frameworks are great for setting direction, developing a strategy and arriving on an implementation plan that takes you in the desired direction, mobilize the organization for change, and drive the change initiatives effectively and results oriented.

The consultants in Bene Agere work with and through our employees and leave structural capital behind when they are finished so that we, ourselves, may continue the work on our own. The SpareBank1 BV Group currently has a clear strategy for the future, with service concepts and methods that satisfy both our local and digital customers. Bene Agere has given us the tools we need to master the future and achieve our goals and ambitions.”

– Rune Fjeldstad, CEO SpareBank1 BV

A mid-size, NJ –based generic drug manufacturer had several years of unsuccessful health authority inspections and two years of FDA Warning Letter remediation. The company needed improved remediation approach to lift the Warning Letter and to be able to launch new products. In addition, the private equity –owned company was for sale and the price needed to be maximized.

The project results:

• New remediation approach resulted to lifting of the FDA Warning Letter within eight months

• New Product Launch processes were optimized reducing the cycle time from two years to one year

• Company valuation was increased by 25%+ after the lifting of the FDA Warning Letter and the company was sold to a publicly traded pharmaceutical company.

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The financial services industry experience rapid changes driven by digitization, competition from fin-tech startups and the threat of large global technology companies moving into the banking space. At the same time, the competition is intense between traditional players. One of our customers, a large regional financial player, experienced increased customer demand for international banking services as the local business environment are becoming more and more global.  The outset was an immediate need to offer international banking services to retain existing and win new customers – 40% of the business was at risk

• A new business unit can be established and be operative in the market fast if you have an attractive ambition, the right mix of outside in perspective, investment willingness and delivery thrust.

• Combining customer experience and Bene Agere transformation experience yield returns beyond the actual project deliverable.

  • Our customer was already recognized within their alliance as a strong project organization and are now adapting key project management components into their internal way of working

• Management support and involvement is key to success and stick to the plan through resistance

  • Management support is generated with active involvement in solution development and efficient decision processes. Do not fall for the temptation to think that permanent change can be achieved through quick/simple measures

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A publicly traded generic pharmaceutical company had complicated quality and regulatory management processes with four newly merged entities and two recently lifted FDA Warning Letters. In addition, the training was focused only on GMP.

The project results:

• A new unified corporate quality manual was developed with unified quality standards resulting to easier processes and quality management. Quality management, document management and training management software were integrated providing more efficient workflows and optimized resourcing.
• The new Corporate University improved GMP training and increased non-GMP skills like Lean, Six Sigma, new product launch, team management and other vital business training.

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A new CEO in a leading Nordic software supplier to energy utilities saw the transition into the role as critical, but also an opportunity to start fresh and make needed changes in the organisation. In this process, he asked for support from Bene Agere.

Bene Agere facilitated the process towards important strategic decisions and shifts, helping prioritize information and thoughts in the hectic period, and facilitating workshops leading to a “change plan” and new strategic roadmap.

The results were; an anchored change plan delivered and presented in board meeting, and approval from the board on all the suggested strategically important change initiatives.

Our key take-away from the project is that the first 100 days as a new CEO CAN and SHOULD be used as an opportunity to carry out major changes, and the Bene Agere framework is very well suited to facilitate this process.

Our client was a global Travel Retailer with operations in over 40 countries and a global market share of 15% at the time, with over 20 000 shops and a revenue of close to 4 billion EUR. The client had just realized an acquisition of one of their key competitors in the Travel Retail Industry increasing total revenue and global presence by approximately 30%.

Ambition of the project was to integrate the two organisations and realize the potential synergies. In addition, to identify and define an implementation plan to realise up to 10% EBITDA improvement in commercial synergies, and to ensure an effective integration of geographical fit.

The project results:
– Organizational synergies identified, common processes, responsibilities and work methods established.
– Commercial synergies target identified broken into five key areas included in 2015 budgets.
– Synergies delivered according to plan

Kenneth Sandven

Three years of partnering, addressing strategy, operations, structure, financials and people across 50 locations country-wide to establish robust profit margins and growth.

A loss making company was bought by a Norwegian consolidation of companies. The new management took initial measures and wanted to accelerate the development of results, in cooperation with Bene Agere. The ambition of the program was to increase profits from -1 % to 3 % and increase sales by 10 %. The company was also determined to position themselves as number 2 in the market, and at the same time improve culture and employee satisfaction.

Together we shaped a three year program establishing a new vision for the company, shifting the focus toservice in addition to sales, creating a winning culture and professionalizing the import organization and the 50+ physical outlets in their multi-local distribution network.

The organization experienced significant results from the program. EBITDA increased to a four times higher level than before, sales increased by 20%+. The company reached their market share targets moving up from number 4 to number 2 in the industry. Even though the organization implemented major changes, the employee satisfaction went up on 17 of 18 indicators.

The program also resulted in the start-up of a new strategic business unit, and the company as well as the CEO was voted best in the whole group consolidation.

The new vision, values, strategy and processes as well as the increased competence level in the organization, contributes to a further positive development and attainment of even higher goals in the future.

Growth through acquisitions had led to fragmented work processes across the widespread organisation, leading to a weak EBT. The clear ambition for the endeavour we did together was a 5 % EBT margin across the company, while at the same time developing internal expertise in multi-local roll out of common work processes.

The transformation journey was kicked-off with quantitative analysis and dialogues with employees from all regions and levels in the organization. Best practice within the company was captured and strategic opportunities within effective sales, profitable project delivery, competence development and clear governance and results orientation were defined.

The subsequent implementation program was structured in three waves: 

This company is on track to reach their high ambitions through this major transformation process that was based largely on the organizations own competence. The new governance model has reinforced result oriented leadership – leading to a constant search for improvements and excellence in all areas.

Expertise in how to roll out continuous improvements to all local units will secure their continued success in the future. As value is created close to customers, change must take hold locally, in every Department.

This agricultural company was in possession of industry-changing technology. They experienced growth, and new funding from investors enabled new investments.

The ambitions were clear, extraordinary growth from 20 to 250 MUSD in 4-5 years and a penetration of 10 % in all large global markets.

The process started out with identifying and working through key strategic questions and issues.

As to results, key strategic questions were identified and addressed at board, management and business unit Level. Concrete operational plans were developed with key deliverables, milestones, KPIs and new forms of resource allocation and prioritization. At the same time, key risks were identified and mitigations planned.

The project helped developing the organization, preparing them for extraordinary growth and penetration of new markets.

After several mergers and heavy investments, the company needed to focus on top line growth as well as synergies across geographies and functions.The organization had ambitions to release the brand potential and become one global, industrialized and market oriented operation.

The company is listed, so they also had ambitions of being an attractive investment.

The ambitions were approached with three main transformation initiatives:

This involved implementing smoother internal work processes with clear interfaces and focus on roles and responsibilities to meet customer expectations. The three transformation initiatives delivered substantial results in terms of top line growth and reduced cost base.

The transformation journey released latent potential in the organization and developed a strong platform for future success.