From loss to profit.
Publicly listed Management and IT consulting firm with 300 employees. Focused on managing change projects for large companies.
Lot’s of energy but no new business.
After the IT bubble of 2000 the company was thrown into a deep crisis. A new management team got the assignment to save the company. The package of measures included e.g. less employees, lowered salaries, new organization and fewer customers. Although all managers worked hard at improving the situation the cash flow did not turn around. The CEO experienced that the performance of the management team was not good enough and they did not act as role models.
Shared view and trust in each other.
Influence was hired to improve the culture of the management team by combining group development with business development. A Collective Intelligence program was created with the purpose of making the management team a coordinated group with consensus on how the business should be run. The program gave the management team many insights and a shared view on what was required to turn the company around.
From liquidity crisis to profit and expansion.
Already after three days at a conference center in the Stockholm archipelago there was a noticeable difference. The employees immediately felt the change of attitude in the management team – they acted as one unit, distinctly and with a positive attitude. The rumor spread that Connecta was on track again, pride grew among employees and the company could again attract top-notch consultants.
The management team worked together at a new and higher level. Their discussions became better resulting in improved decisions and much better implementation of the decisions. It resulted in increased invoicing per consultant and boosted revenues on key accounts. The company was turned around in 3 months and the cash flow improved in line with the increased profitability.
Connecta’s financial result went from a loss of 40 MSEK to a profit of 30 MSEK in one year. During the following years Connecta was the second most profitable consulting company on the Swedish stock market while expanding quickly.