Biocatalysts - Leigh Lawry Accountancy

Biocatalysts

The Challenge

To identify, implement and realise opportunities for improved profitability within the organisation.

Background

Biocatalysts is a company employing ~60 people and has an annual turnover of ~£9m. They are a leader in the biotechnology industry and export their product around the world.

The company were engaging an external consultant to deliver the following:
1. Produce high performance metrics, with an ability to drill down into the detail
2. Highlight financial inefficiencies (i.e. over resourced or inefficient)
3. Make recommendations on key metrics to increase profit

Approach

  • Analyse existing data, metrics and reports
  • Interview key people and operating processes
  • Implement a cost reduction programme
  • Review high level strategy and Key Performance Indicators (KPIs)
  • Establish new meeting agenda

Outcome

  • Facilitated business planning days to develop a robust strategy
  • Thorough review of stakeholders and market factors impacting performance
  • Established key performance metrics and targets to support delivery of the strategy
  • Introduced new KPIs for sales pipeline, capacity, yield and absence
  • Developed new meeting agenda to support attainment of business objectives
  • Delivered increased profitability (record performance)

Benefit

  • Improved cross departmental communication and co-operation (reduced previous ‘silo’ mentality)
  • Greater focus on key activities – assisted prioritisation of activities and allocation of resource
  • Clear accountability on performance
  • Improved culture through enhanced use of company values
Working with Leigh we were able to identify multiple profit improvement initiatives and assign the justification to the accountable managers to return a standardised format for review.
Craig Phillips
Finance Director