Nearly 75 Percent of All Business Transformation Initiatives Fail to Achieve Revenue and Margin Goals
Originally published on home.kmpg.
COVID-19 has exacerbated existing business challenges for some companies while creating new ones for others. Both circumstances require agile, precise enterprise-wide assessment and improvement. Elevate, the next generation of KPMG’s Performance Improvement offering, provides proprietary data-driven insights combined with industry experience to enhance commercial performance, optimize costs and unlock capital to invest in new opportunities. KPMG ranked No. 12 on The DiversityInc Top 50 Companies for Diversity list in 2020.
Leveraging proprietary data sources and benchmarks, Elevate brings together thousands of industry-focused practitioners and hundreds of data scientists to offer businesses rigorous and practical insights that create rapid and sustained EBITDA impact. “Historically, almost three-quarters of business transformation initiatives fail to reach their margin and revenue goals,” said Scott Rankin, KPMG Elevate leader. “By leveraging industry expertise at scale, Elevate offers businesses a unique opportunity to transform within the new reality.”
Elevate was recently deployed to help a large consumer goods manufacturer and distributor. Sales had been declining for multiple years and profits were down by 20 percent, pre-Covid-19. KPMG Elevate was able to accelerate the company’s top line growth, improving EBITDA more than 25 percent by increasing customer focus, optimizing operating expenses and streamlining the organization. Simultaneously, Elevate accelerated the firm’s adoption of digital capabilities, including an e-commerce platform, which added thousands of new customers within months.
Elevate can help companies improve, reposition or find strategic solutions to improving performance and managing costs. “Elevate was created to enhance performance improvement under a variety of scenarios, even a global pandemic,” said Sanjay Sehgal, KPMG Advisory Head of Markets. “Disruptive competition has been a trend for many years, and companies must remain vigilant about driving greater efficiency from the front through the entire back office. This unique market environment offers a once-in-a-generation opportunity to make dramatic changes quickly.”
For more information on Elevate, please click here.