Five Theses on Successful Restructuring


1 Concepts must be viable

Whether for operational restructuring, the rapid release of liquidity reserves or the implementation of a long-term corporate reorganization – a structured realignment concept serves as the basis for all of these measures. Financial resources, action plans and the desired effects – every parameter of a concept must dovetail in order to ensure a successful project. But measures have to be viable if they are to actually help bring about an improvement in a company’s situation.

We contribute active management experience to every project and thus develop feasible concepts. Where necessary, we will implement the identified measures together with our clients – either by supporting your employees or else ourselves assuming responsibility for putting these changes into practice.

2 The effects of measures must be quantifiable

A measure is only successful if it realizes the desired effect. The tools used must be clearly measurable, according to defined criteria, so as to be able to consistently pursue the defined objective and react in case of any deviations. Operational or financial benchmarks are generally applied for the purpose of a target/actual comparison.

We employ proven project management tools right from the start. Only then will all those concerned have the necessary level of transparency in order to operate in a goal-oriented manner and successfully bring the project to fruition. Close cooperation with the finance and management accounting departments is essential in order to ensure the reliability of the figures reported.

3 A good project management strategy ensures transparency and success

The restructuring process must be transparent and plausible for the client.A good project management strategy must achieve these goals. In case of restructuring projects, we will set up a project management office (PMO) which will coordinate the entire process, from the preparation of the concept and the related measures to the operational implementation phase. Calculations, reporting formats and decision-making structures are standardized and consistently utilized. Regular reporting documents demonstrate for clients and banks that the process is proceeding as planned. The PMO also provides operational support for individual project teams and assists with the implementation of complex tasks.

With a professional PMO, we can take charge of the restructuring process. Our consultants will make use of proven methods, effective tools and the experience which they have gained through a large number of successful projects.


4 Trust is the basis for success

Bringing in consultants is a matter of trust, since the task at hand represents an entrepreneurial challenge and will require the consultant to work with the company’s employees and management team as well as shareholders, banks and investors. A jointly implemented realignment process will only succeed on the basis of a solid relationship of trust between all those concerned.

We think and act entrepreneurially. Only a structured, financially viable concept will meet with the approval of the various stakeholders, enabling them to jointly implement this concept while trusting in one another. This is essential for our successful collaboration with our clients.

5 A CRO is the best possible means of strengthening a team working on a restructuring process

The chief restructuring officer (CRO) is a valuable pilot who will guide the project to its successful completion. He or she is an experienced crisis manager, a leader and someone whom others can trust in. The CRO is familiar with the challenges which a restructuring project entails – in both the planning and the operational implementation phase.

In the field of corporate reorganizations, the CRO knows what is required and the rules for negotiations with banks and clients. The CRO will establish the necessary framework for a realignment and safeguard its implementation, while working with the customer. Where necessary, to assist the client he or she will also bring on board internal employees with operational experience.

Restructuring Entails More Than Just Cost Reduction

 

A Robust Concept Must Cover All of The Company’s Economic Factors​


Haselhorst Associates will help you to design efficient organizational structures and workflows. Particularly during times of transition, their redesign requires a great deal of experience and competence as well as tact and sensitivity. We will assume responsibility for this within the scope of restructuring projects – from the planning phase to management of the implementation process.