How Consultants Optimize ROI and Drive Sustainable Growth
Today’s ever-changing economic landscape requires an ability to react quickly to market conditions while implementing measures that bolster overall financial health.
One such method of achieving this involves turning to a trusted consultant who works as an extension of your team to identify issues before they arise and help you efficiently and effectively reach the next stage of growth.
As experts in helping businesses drive successful transformations, we’ve outlined some essential information regarding how consultants help optimize ROI and drive sustainable growth.
How do consultants typically work with an organization?
The specific ways in which a consultant will work with an organization depends largely on the consulting firm at hand and the organization’s unique needs, goals and concerns.
For example, at DLC, our consultants are CPAs with Big 4 experience or MBAs from top business schools, all with finance and accounting experience at Fortune 1000 companies. We work with growing, enterprise-level organizations to match the right people to the project and transform goals into realities.
From providing day-to-day finance and accounting support to identifying strategic growth initiatives, our unique process ensures you receive tailored support where it’s most needed for growth and scale.
How Consultants Optimize ROI and Drive Sustainable Growth
- Offer a cost-effective approach to scale by working on an as-needed or project-based basis
- Provide valuable expertise to save time, drive project success and ensure proper resource allocation for growth
- Analyze and rework processes and systems for maximum efficiency
- Drive successful financial management and integrate measures that support overall financial health
- Identify strategic growth opportunities and provide support during periods of transition or rapid change
Consultants offer a cost-effective approach to scale by working on an as-needed or project-based basis
Hiring a consultant provides access to a true industry expert who will immediately hit the ground running to support your organization in reaching its goals.
Especially in today’s volatile hiring environment, it can be quite costly to spend months trying to find the right employee and ensuring they’re properly trained and brought up to speed – which isn’t always the best solution when you’re looking for quick and effective results.
By working on a project-based basis, consultants step in to provide support where it’s most needed for growth and scale, offering a low-risk, high-reward solution. While they may incur an up-front cost, this cost is often offset by the initiatives they take to cut down on overhead spending and help you gain an influx of capital.
Consultants provide valuable expertise to save time, drive project success and ensure proper resource allocation for growth
Oftentimes, the success of a project requires turning to a skilled subject matter expert to guide the process in the right direction.
Rather than run the risk of overloading your current employees with duties outside the range of their skillsets or having them pull focus away from their day-to-day to take additional trainings, it can be much more beneficial to turn to a consultant who already has the expertise you need to achieve your goals.
As the consultant works to outline a project roadmap, ensure resources are allocated to where they’re most needed, identify the right KPIs to track and provide the hands-on guidance needed to ensure alignment every step of the way, organizations can gain back valuable time and cut down on unnecessary overhead spend.
Consultants analyze and rework processes and systems for maximum efficiency
As consultants are problem solvers, they will work to analyze your current systems and processes for irregularities and areas for improvement and offer strategic and cost-effective solutions for correcting them.
For example, let’s say your organization is running into issues relating to cash flow. A consultant may start with an analysis of your budgeting and forecasting procedures to ensure the financial data you’re gathering is reliable and can inform strategic decision making.
Depending on what they find, they may decide to integrate modernized budgeting methodology to provide more real-time visibility or implement better financial systems to automate data gathering efforts and reduce the potential for human error.
After identifying the right solution, the consultant will work closely with your team and high-level executives to complete the project with little interruptions to day-to-day operations and implement change management programs to ensure everyone is properly trained on the new approach.
This results in more efficient operations, a more knowledgeable workforce and effective, up-to-date systems and processes that will not only withstand but support future growth initiatives.
Consultants drive successful financial management and integrate measures that support overall financial health
Part of a consultant’s duties involve conducting a cost analysis to identify areas where overhead spending can be reduced without negatively affecting an organization’s productivity or the quality of their products and services.
Whether this involves contact renegotiation, process rework to eliminate redundancies or taking measures to identify more cost-effective suppliers, the consultant will work to ensure strategic financial management at every level and integrate measures that support financial growth both now and in the future.
Consultants identify strategic growth opportunities and provide support during periods of transition or rapid change
In addition to providing the day-to-day support needed to reach your goals, consultants also offer high-level guidance to identify strategic growth opportunities.
Whether this involves embarking on a transaction like a merger or acquisition or identifying lucrative new markets to enter, consultants help ensure your organization is able to efficiently and effectively reach the next stage of growth.
In addition, these growth opportunities – while beneficial – can often upset daily organizational ongoings and leave employees feeling confused or unsupported during periods of transition or rapid change.
However, when you turn to a consultant, you’re putting your trust in a professional who has already successfully conducted similar processes for other organizations, providing them with the expertise they need to ensure the goals of the transition can be effectively met and that everyone is in alignment about how to get there.
Final Thoughts on How Consultants Help Optimize ROI & Drive Sustainable Growth
Deciding to hire a consultant requires a careful analysis of your organization’s current needs, resources and ability to achieve your goals – but no matter the project at hand, consultants act as key partners to help you optimize ROI and drive sustainable growth every step of the way.
From empowering your organization to get ahead of issues and driving process efficiency to providing high-level strategic guidance and ensuring your people have what they need to succeed, consultants provide a cost-effective approach to reaching your goals.
DLC has a team of consultants ready to help you with:
- Accounting & Financial Reporting
- Financial Planning & Analysis
- Financial Systems Implementation
- Interim Financial Management
- M&A Due Diligence Support
- Post-merger Financial Integration
- Process Documentation & Redesign
- Project Management