A growing IT consulting firm with a solid reputation for technical excellence and established customer relationships found itself facing increased regional competition in its home market and a need for a new strategic plan to address current and future markets. Already operating in two countries in the region, Karisimbi Partners was engaged to:
- Conduct a financial analysis of the enterprise;
- Recommend optimized organization structure for regional expansion;
- Establish Quota Setting & Performance-based Commission for sales personnel;
- Consult on methods to increase consultant and project utilization rates
Karisimbi Partners’ Approach
Evaluate historical performance
The Karisimbi Partners team engaged with company management in an effort to analyze and understand every aspect of the business, from past financial performance, to current operations, to future opportunity. By deeply analyzing profitability associated with the client’s various service offerings and lines of business, Karisimbi Partners provided insight and data-supported recommendations for where to increase focus and resources and how to eliminate or reduce less efficient project work.
Validate the Market and Competitive Environment
Looking beyond the traditional domestic market and competitive forces at play, Karisimbi Partners evaluated the effect of organizational structure, compensation plans for sales and consultant staff and required development training -aligning these factors with the company’s growth and regional expansion aspirations. Tailored quota setting processes and role-based incentive compensation plans were outlined for the company for implementation among its revenue generating staff. Karisimbi Partners’ assistance in these focus areas represent a key value in ensuring the company is competitively positioned externally for the market, and internally for retaining and recruiting top employees.
Prioritize Recommendations for Greatest Impact
Balancing cash flow needs with long term company objectives meant that actionable recommendations must center on highest priority adjustments and investments necessary to achieve stated strategic goals. To that end, a detailed set of objectives with identified owners was documented and established to ensure accountability and time bound progress against the following goals:
- Simplified & Effective Organization Structure
- Quota Setting & Performance-Based Commission for Sales Personnel
- Increased Utilization Rates (of key personnel)
- Identification of new service lines and target markets
The company has successfully extended operations into a third country within the region and has expanded their offerings to client industries in accordance with the outlined strategic plan and implementation guide. The organization is poised for partnership with a larger vendor partner, positioning the company for greater scale and impact in the markets it serves. Employee retention and contribution has been positively affected by the implementation of a performance-based compensation model, and the company remains a recognized and respected leader in the IT service sector.