Telecommunications
After conducting an independent maturity report it was highlighted the key risk indicators were not aligned with external legislations, regulations and standards that affected this global business. This was reflected in the maturity of their governance of their policies, procedures, processes; their low pedigree of the data usage; training and awareness of their people; and their audit reports.
The comprehensive analysis presented a framework and get-well plans to their compliance to legislations, regulations and standards, governance on data, documentation, knowledge management, and comprehensive qualified and quantified set of risks aligned to the business.
"We were surprised how refined and intuitive the comprehensive analysis provided insight into our maturity of our controls which we assumed were robust. We now understand from the deep insight to push ahead in executing those identified plans in improving those areas that lack behind. To unlock the potential in high value, we recognise that we needed this data-driven analysis to provide a solid foundations for our future strategic growth. Couple this with our challenges to Brexit, we are that much more resilient to change." - CEO
Aero-engine Manufacturer
There was inherent concerns how the Corporate and Business Units teams operated and united to manage global trade compliance. After conducting a deep data-analysis of the global Civil Aero-Engine Business Unit there were key fundamental areas that needed significant improvements - one of these was the lack of export and import classifications.
After presenting detail findings and get-well plans to the Civil Aerospace Board, the green-light given, immediate steps were taken to modify their ERP system, add new data related to trade compliance and conducted a global classification exercise across the whole range of Civil Aero-engines.
The transformation led to how they manage controlled inventory, manage their indirect tax, utilising export and import licences efficiency, increased throughput of spare parts ordering, and many other trade compliance activities that profoundly changed how they operate and returned substantial savings. This was adopted by the other Business Units and substantial financial savings was forecasted.
"Firstly we were not aware of the significance of trade compliance impacting the Civil-side of our business, we had always assumed it was the Defence-side that would have more risk. We soon realised how inaccurate we were led to believe. As soon as we were informed and the litmus-test of our business, we immediately endorsed the get-well plans to be enacted. This was delivered and the results provided significant EBIT savings, the ROI was weeks. We sat up and realised we need to tap into this high value area that can yield substantial bottom line savings - data. Without this insight we would not enacted the establishment of the R2 data labs." - ex-CEO Civil Aerospace