Growth through Partnerships
Location: Alberta, Canada
Industry: Service organizations and consulting firms
Problems
Panni, being a management consulting firm provides ideas to businesses to improve the efficiency of their business processes. They help businesses to shorten lead time, increase profit margins, reduce costs, and even implement business ERP solutions. However, everyday organizations across the board are digitizing information. This information might be captured in multiple systems and formats. An effective information strategy and Business Intelligence (BI) solution are becoming increasingly essential for effective decision making in today’s organizations. But how could Panni leverage this advancement and development and just like any other management consulting firm, Panni faces an issue with technology content? The technology aims to achieve an implementable and effective process re-designs. The main problems being only a management consultant when technology is needed as part of a solution are:
Problems
- Restricted access to talent
- Shrinking profit margins
- Project management aspects of quality and on-time delivery
- Opportunities are passed over
- Portfolio size limited
- Erased out of competition and market
- Increase in risks
- Increase in operating costs
Solutions
Panni was mainly engaged in Sage X3 enterprise ERP solutions. They did not have any resources related to the technology aspect. We as Allied consultants are technology experts for building and maintaining ERP’s implementations, integrating applications and systems, arranging data through business intelligence and machine learning tools.
To hire a resource there is a bit expensive than to hire in the area where we work. So, instead of hiring a permanent resource in Canada, Panni benefitted from partnerships and sub-contracting the work to us. The directly associated benefits Panni gained from us are:
– Reduced costs:
They decreased their cost associated with hiring and managing a permanent employee.
– Portfolio Expansion:
Their portfolio and expertise in the field was expanded through us
– Increased opportunities:
They, now, do not need to miss opportunities and can participate in and increase competition
– Longer-term relationships:
Client relationships were extended with a much stronger bond than before
– Risk reduction:
Risks related to managing the project were reduced and transferred to us
– Increase margins:
Through our partnership, they increased their profit margins
– Greater talent resource:
Through us, they now had wider access to talent.
These benefits are also passed on to the clients of Panni.
Solutions
Being in a consulting business, the main target is to satisfy and solve the problems of customers/clients. Problems of customers/clients that were solved by us being and acting as one are:
- The right information made available to the right person at the right time in the right format
- Creation of their reports as per their requirements and demand
- Due to our collaboration, their data and software have collaborated
- Secured storage and maintainability of data
- Availability of data and information on time
- Automatically logging of issues and timely resolution
- Delivery of data anywhere and anytime
- Payment integrations
The list is not exhaustive. However, they represent important and most common problems that were solved.
Benefits
Partnerships increase each firm’s revenue and portfolios. They pass to the client also. All the firms and clients in partnership circle benefit. A win-win situation for all. The main benefits are as follows:
- Limit of exposure to costs
- Large client base
- Opportunity overlooking reduced
- Elongated relationship from short term to long term
- Risks within risk appetite
- Expansion of profit margins
- Entrance and search for talent increases
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