Extraordinary events generally occur in the context of extraordinary circumstances. These events can be positive and negative in nature, and Resources has experienced both over the last six months. I would be inattentive if I did not begin by acknowledging the difficult decisions recently made across the organization with regard to employee reductions, and office closures and consolidations. External market conditions have had a dramatic impact on our ability to sustain revenue levels necessary to support our infrastructure. After much reflection and consideration, we took measures to right-size our infrastructure and position ourselves appropriately to move forward in this drastically changed economy.
As challenging and difficult as these decisions were, it is our unique culture and passion for this Company that has guided us through. With renewed spirit and a collective focus on building back revenue to grow the Company, we have embraced the unique opportunity the changes in the market have created by organizing our client and prospect communication around the idea of “Shifting Share.” The main thrust of this idea is to creatively engage our clients and demonstrate clearly how relevant the Resources value proposition is, particularly now.“We have some incredible examples of
client engagements where we have been
successful with ‘Share Shift’.”
Put plainly, there has never been a better time in our history than now to illustrate how the quality and experience of our Consultants – when combined with our variable bill rate model – can be a successful strategy for winning work away from our Big Four and traditional consulting competitors. Companies who have experienced significant reductions in workforce or other difficult business challenges in the wake of this economy still need to get their work done. We are seeing that they will turn to Resources for the value and quality of support that we provide at a value that is superior to those traditional competitors. Result = Share Shift.
We already have some incredible examples of client engagements from around the world where we have been successful in this effort. Following are a few excerpts from a sampling of these great stories.
Our Chicago practice recently closed an engagement with a client that provides cleaning and security services at large facilities throughout the United States to conduct an ERP system evaluation and selection process to manage their order entry, contract management, payroll, accounts receivable, accounts payable, inventory, fixed assets, and general ledger processes. Our team will then project manage the subsequent implementation of the ERP system chosen. This is anticipated to be a minimum 12-month engagement, which could have easily been awarded to a Big Four’s advisory practice.
The Louisville team secured additional RAS work at a global leading supplier of elastomers and specialty chemicals, which resulted in a shift from a Big Four’s regional audit firm to Resources, as our rates were more favorable than theirs.
In the Netherlands, we have a Consultant starting an engagement at a leading outsourced receivables management company in Europe to head up the Controlling & Finance team and oversee the reorganization and restructuring of this department. We competed against a Big Four and a large European consultancy for this work, and believe we won because we involved our Consultant (a true subject-matter expert in this field) in scoping the project with the client. This same Consultant is now executing the project.
Our Tri-state practice currently has six Consultants assisting on a post bankruptcy engagement at a $3 billion specialty chemicals manufacturer in the areas of legal, information management and supply chain. This client has turned to Resources as a cost alternative option to other traditional legal and niche firms.
As these examples clearly demonstrate, we possess a compelling value proposition to share with our clients. We are confident that our ongoing hard work and perseverance will continue to deliver opportunity into the hands of Resources Consultants. Our job is to find, develop and seize that opportunity.
With a continued focus on demonstrating our unique value proposition, we will do much more than endure these unprecedented times. Instead, we will thrive during this period of uncertainty and ultimately emerge a stronger and more capable global organization than we were before.