The Sure Pathway of a Successful Restructuring & Recovery
Loan Restructuring & Recovery is a complex set of actions meant to restore a company to profitability, following, in most cases, a period of underperformance in weakening cash flow to service the financial liabilities. Although the specifics of the company rescue plan are quite different from one company to another, due to the particulars of each business, there are four essential stages for a successful turnaround, regardless of industry, company size, or particulars.

Step 1: Evaluation.
Essential for obvious reasons, thorough evaluation is needed to assess the depth and breadth of the restructuring challenge, as well as the timeline. The complexity of a corporate turnaround is brought by the 360-degree approach in actions needed to successfully ensure stable, long-term company rescue: cost reduction, cost avoidance, increased efficiency, effectiveness, innovation, customer-centric actions targeting an increased customer loyalty and referral, numerous business process improvement initiatives throughout the organization, as well as numerous process reengineering opportunities in environments such as manufacturing, sales, service, and supply chain.

Step 2: Restructuring & Recovery Planning.
Once the evaluation has been completed, the next critical step in a corporate turnaround is turnaround planning: which actions will be executed, by whom, in which time frame, needing what resources, and expecting which results. A good business turnaround leverages existing success stories, winning formulas, and exceptional talent. A successful company rescue plan revolves around the core values of the organization, its mission and its vision, and embeds ways to increase the company’s competitive edge.

Step 3: Communication.
This is the most significant and critical stage when leaders take the time to “sell” the corporate turnaround plan to the workforce, achieving a twofold benefit of utmost value: to address employees’ fears and concerns regarding the financial stability of the organization, thus extenuating potential turnover risks, and to get their full support and engagement in executing the complex, change-intensive company rescue plan. Communication is a key to success in every business turnaround, because it must ensure that the complex changes are managed carefully.

Step 4: Execution.
Finally, armed with a thorough plan, good communication strategy, and selected resources, the execution of the corporate turnaround plan is the last key item on the list. Laser-sharp focus and execution as per schedule will ensure the success of the company rescue endeavour.

The complex undertaking of corporate turnaround requires talent and skills that might not be readily available on company payroll. This is where securing the services of a turnaround consultant who has the real life business experience proves to be a beneficial asset to the company because of the contribution that he gives, such as: knowledge and expertise in the challenging field of business restructuring, unbiased view of the organization’s strengths and weaknesses, experience in driving required change in environments geared towards operational excellence.

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DF Solusi Consulting
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