Tyne Pacific

Tyne Pacific_small

Transformation
Major ASX Listed Company , Support Function Optimisation, Over $300M of Cash savings

Project Summary

Working with the Executive and General Managers to investigate the level of functional support costs within the enterprise, benchmark against other companies and to recommend the extent of cost reduction possible in support functions such as Finance, IT, Supply Chain, Human Resources, HSE & Risk.

 

This formed the basis of a major Transformation Programme, across the enterprise, which has successfully executed on the opportunities identified in the initial project brief with a 50% reduction in support roles.

 

We delivered an enterprise wide functional cost review concluding on the size and breadth of the support functions and benchmarking to other organisations.  We developed and presented recommendations on extent of cost reduction possible and a strategy for how to best deliver these reductions.  We managed the Transformation Office to execute the transformation activities and reductions, coordinating external consultants and stream leads to deliver performance against targets.

 

 

Highlights

Delivered the first company wide functional cost review, detailing the size of support functions and external benchmarking
Designed a cost reduction program to validate the savings, lock in targets and then move towards full implementation
Significant stakeholder management to ensure business ownership of reductions and that end states were fit for purpose
Successfully exceeded targeted reductions with over 1,700 positions closed and go forward >$300m in annual cost savings