Innovating To Create Increased Value
The Challenge
Varitech, an innovative provider of cleaning systems, wanted to explore business models for high growth and were considering options to change structure and current operating model if required. They also wished to explore expanding their export portfolio and making inventory management more cost efficient. Concurrently Varitech were undertaking training in business management and sales and asked BAR Associates to ensure the two growth initiatives were integrated.
The Approach
The BAR approach helped the Varitech senior leadership team grow the company by 25% in the first year. This was through identifying and accessing a new Defence and Security market with an innovative solutions-focused service. A campaign was designed and executed to identify and approach specific exhibitors at DSEi with immediate success. This initial success enabled the Directors to restructure the sales approaches to combine both account management and new business winning through consultancy selling and the provision of solutions and services. Varitech is now poised for increased growth, supported by targeted investment in a specialist solutions sales team.
The Value
BAR engaged through a programme of work to deliver the coherence sought by the client. This broke into work packages for specific areas:
- Workshops to compare what had been planned, tried or ignored in the past with what might be considered in the future.
- Vision and business modelling exercises to identify growth areas, strategic objectives and a future operating model using the BAR A3 Methodology as the framework for development.
- A management of change package that envisaged how to bring about the individual business developments, notably the organisational re-structuring to embrace a consultancy led operation.
- A marketing strategy and plan including a specific campaign to diversify into a new market sector.
A business model exercise re-structuring to two P&Ls – one solutions and the other product distribution based.