Multinational defence and medical Systems
The business had four UK defence divisions and one overseas division supplying the UK MOD and other National Defence organisations. In addition it had a UK division producing hi tech medical linear accelerators for the treatment of cancer in hospitals across the world. The long-serving Financial Controller had retired and the newly appointed FD with whom I had previously worked asked me to help bring a more commercial approach to managing the business. Detailed accounts were kept capable of satisfying company economic accounts, statutory accounts and MOD needs but divisional management felt isolated from the accounts department.
Restructuring the Finance department following the retirement of the FC
Created teams of Divisional analysts who worked alongside the General Managers of the Divisions. Worked with the divisional teams to produce operating and resource budgets and plans to which the divisions were committed. (They had previously been given centrally prepared budgets which they did not identify with). A central team still produced the monthly financials but the Divisional Analyst produced a management pack for Divisional use whilst the central team dealt with board level and International reporting using the same source data. The management teams were incentivised on their results for which they now had control and ownership.
Controlling and evaluating the Commercial Tender and Bids Process
Reviewed the Commercial Tender and bid Process for new business using divisionally based teams overseen by the Financial Controller. This produced a more accurate analysis of the resource and material required and a greater commitment of the divisional teams to the tender process and the subsequent delivery of the contract in line with the bid parameters.
Strategic Review of Defence Sector
Worked with company corporate planner to produce strategic review for the future of the defence division.
Reducing the cost base
Worked with the Controller accounting to reduce the head count by almost 40% by getting central staff to be multifunctional and modifying the work cycle.
