Insights
- A successful auditing software and service firm recognized the value of an experienced independent advisor to help it drive continued growth and profitability
- The Newport partner was engaged to assist the firm as a “Board-like” a
Action
- The Newport partner introduced quarterly discussions modeled on board meetings which allowed the leadership team to utilize the partner as a sounding board
- This approach allowed both internal and external communications and approaches to be honed and solidified
- The Newport partner partnered with the firm’s leadership team to assess financials and achieve progress toward budget, as well as future strategy and plans
- Specific examples of successes and failures were evaluated to refine opportunities to accelerate growth
Results
- By challenging current ideas with help of the Newport Partner acting as an independent outside “director”, the leadership team became more confident in the firm’s direction
- The Newport partner’s collaborative approach enabled the firm to effectively manage through ongoing market changes
- Succession plans were crafted that allowed for key personal retirement in a less disruptive and structured manner
- More effective communication plans were also developed for vendors as well as clients
