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Transforming Working Capital

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Until JustOne was established in 2005, Businesses who were dissatisfied with their working capital performance and were looking for Working Capital Improvement assistance only had two options open to them:

1. Use an External Consultancy for Working Capital Improvement

Advantages –
Obtain scarce skills and solutions quickly.

The promise of rapid improvement.

Disadvantages –
High cost of external fees, often requiring board level approval.

Limited skills transfer from consultants to staff.

Benefits may not be sustained in the long-term.

2. Set Up An Internal Project for Working Capital Improvement

Advantages –
No external fees.

New skills and project experience maintained internally.

Ownership of new ways of working.

Disadvantages –
Limited “in house” knowledge of leading edge working capital practices.

Temptation to set targets that are too soft.

Increased the risk of project failure due to lack of change management skills.

Now, there is a 3rd Option :

3. The JustOne Approach – A Proven Alternative

You can combine the best features of the first two approaches by engaging a specialist in both Working Capital Improvement AND Change Management to support your internal project. The specialist will advise on the structure of the project and will train and coach selected client staff so they have the capability to deliver the necessary change.

Advantages include:

  • The client people who facilitate the change will have superior knowledge of the business and company culture to that of external consultants, so staff are more likely to embrace the change.
  • The transfer of technical, change management and project management skills to key staff is far greater than with conventional consultancies.
  • Client staff who will facilitate the change will be selected based upon personal skills including language so that the project can be rolled out to all countries within scope.
  • Unlike external consultants, the trained client staff will remain after the project is closed as a valuable resource to undertake specified sustainability measures.
  • The cash benefits are almost always greater than those realised through internal projects, where the temptation is to set targets that are too soft.
  • Our unique approach ensures that our fees compare favourably with conventional consultancies, whilst providing a superior ROI. We have helped clients achieve working capital reductions of up to 350 times that of our fee.