Loss making to Profit making| Turnaround Management Training and Consulting | Tapams
Accelerating Overall Growth
Turnaround Management
Most of the industries across the world are going through a big metamorphosis. the liberalization and globalization of industries brought in lot of opportunities. At the same time, it also brought in lot of global competition in terms of Quality, Cost, Delivery, Development, Response and Innovation.
Most of the traditionally/conventionally managed Industries are failing because they couldn’t face this competition. The basic key of facing such situation is to graduate from boys to men. Traditional industries or industries in most of the third world countries, even in some of the developed countries, are still struggling to become men from boys.
The need of the day is to give a second look to the way we do and approach our business. It has to go through a radical change to meet this challenge.
We undertake “assignments of turning around” loss making companies or companies not making good profits and struggling to keep pace with the market requirements. We be with them, work with them, work for them and turn the whole organization a profit making one and help them graduate to next level of maturity continuously.
We have our own unique Turnaround Hexagon/7M Methodology to turnaround companies in a very systematic and robust way.
What is Turnaround Management?
Most of the industries across the world are going through a big metamorphosis. The liberalization and globalization of industries brought in lot of opportunities. At the same time, it also brought in lot of global competition in terms of Quality, Cost, Delivery, Development, Response and Innovation.
Most of the traditionally/conventionally managed Industries are failing because they couldn’t face this competition. The basic key of facing such situation is to graduate from boys to men. Traditional industries or industries in most of the third world countries, even in some of the developed countries, are still struggling to become men from boys. The need of the day is to give a second look to the way we do and approach our business. It has to go through a radical change to meet this challenge.
We Tapams undertake “assignments of turning around” loss making companies or companies not making good profits and struggling to keep pace with the market requirements. We be with them, work with them, work for them and turn the whole organization a profit making one and help them graduate to next level of maturity continuously.
We Tapams have our own unique Turnaround Hexagon / 7M Methodology to turnaround companies in a very systematic and robust way.
Our 7M methodology focuses on
a) 1M – Marketing
b) 2M – Money
c) 3M – Management
d) 4M – Material
e) 5M – Method
f) 6M – Machines and
g) 7M – Man
All the activities / actions taken in any organisation will fall under one these 7Ms. Keep on improving these 7Ms automatically helps the organisation to grow exponentially in terms of business and profit.
Tapams has a unique approach of “Control – Improve – Innovate” the effectiveness parameters along-with “Identify – Eliminate – Prevent” the risks involved in each of these 7 Ms. This unique approach not only makes the organisation grow positively in all the directions and also establishes very robust management systems causing irreversible and continually improving results.
Making tomorrow's leaders
CEO Coaching
The most effective CEOs are the ones who work with a mentor to help them actualise or streamline their vision for the organisation. As a mentor and coach with a peer-like approach, Tapams helps CEOs with the right tools to visualize, strategize an action plan and see it through to implement across the organisation, striking a perfect balance among all stake-holders including people and market.
The entire approach of Management Pentagon will help the CEO to manage the business as a real professional irrespective of the type, size and nature of business.
What is CEO Coaching?
The most effective CEOs are the ones who work with a mentor to help them actualise or streamline their vision for the organisation. As a mentor and coach with a peer-like approach, Tapams helps CEOs with the right tools to visualize, strategize an action plan and see it through to implement across the organisation, striking a perfect balance among all stakeholders including people and market.
We found most of the CEOs busy in doing day-to-day and mundane activities and actions. A professional and good CEO should be a good enabler rather than a doer. Many of the CEOs have reasonable clarity on where to go, how to reach and when to reach. The biggest problem for most of the CEOs today is how to carry their team along with them on this journey. The biggest confusion today is we have first generation people, second generation systems, third generation machines, fourth generation concepts and fifth generation aspirations. The success lies in aligning of all these on one focus and make them to move forward.
The CEO’s prime responsibility to ensure that the right combination of VSMRA (Vision + Skills + Motivation + Resources + Action Plan) is established, controlled and improved. A CEO has to arrive at a right Vision to set the right direction, enable the people to acquire the right competence and skills to achieve the goals derived out of vision, be an inspirer and establish right systems for the people at all levels to get motivated, provide the right resources at right time and ensure that detailed action plans along-with pragmatic milestones are made to achieve those goals along-with on-time rigorous reviews.
Tapams VSMRA based unique step-by-step approach enables CEOs to drive the organisation in a very systematic and professional way to make the organisation and people to become World Class and the best. The entire approach of Tapams’ Management Pentagon will help the CEO to manage the business professionally irrespective of the type, size and nature of business. By adopting this methodology and approach the CEOs will be able to create more leaders under them.
Guiding to World Class Manufacturing
WCM thru Lean
Guiding to World Class Manufacturing
Guiding organisations to become World Class Manufacturers by implementing Lean Concepts is what we do. As Lean Concept is the best management tool to produce great business results, we start every assignment with implementation of Lean Concepts. Our unique 16-point criterion of WCM Model helps the entire organisation to embrace the lean concepts across all the functions and across all echelons.
What is World Class Manufacturing?
It is not just enough to have the great technologies available form the World; It is very important to have the best manufacturing management and systems in place. Because
“There is no manufacturing without Technology;
But Manufacturing itself is more than Technology”.
World class manufacturing is the philosophy of being the best, the fastest, and the lowest cost producer of a product or service. It implies the constant improvement of products, process and service to remain an industry leader and provide the best choice for customers, regardless of where they are in the process.
It is a structured and integrated production system that involves all manufacturing and entire organization from the leadership to the people on the shop floor. WCM is usually represented as a temple that have to be managed properly in order to elevate the manufacturing operations to a world class standard.
We Tapams have our own methodology of World Class Manufacturing by employing Lean Manufacturing Tools and have defined 16 Point criterion to achieve the same. These 16 point Criterion ensure and guide the entire organisation to work out a detailed plan with actions to march towards becoming and later maintaining as a WCM Organisation.
Management System Improvement
OEM Supply Readiness
We conduct detailed OEM Supply readiness audit focusing on the major functions combining more than 30+ World-wide Automotive OEMs checklist.The uniqueness of our audit and guidance not only improves the overall business management system in the organisation, it also keeps the organisation ever ready for audit from any OEMs worldwide.
Increased revenue generation
The business that has incorporated Digital technology have often experienced the following:
Custom Built Training
Digital Transformation Consulting
Companies choosing not to play in digital modernization are missing out on
major force multipliers that allow businesses to protect their existing markets,
expand into new market areas, and be more socially and environmentally aware.
Ofcourse, this is about leveraging technology for good, as well as embracing it to
drive business value
Modern innovations brings technological disruptions that lead to a complete transformation. Digital transformation is essential because it provides a valuable opportunity for business operations to move from legacy manual processes to digitally automated process, enabling leaders to focus on broader business opportunities and multiply their business outcomes.
Increased revenue generationThe business that has incorporated Digital technology have often experienced the following:
Increased revenue generation
The business that has incorporated Digital technology have often experienced the following
Digital Transformation
Digital Transformation Consulting
Companies choosing not to play in digital modernization are missing out on
major force multipliers that allow businesses to protect their existing markets,
expand into new market areas, and be more socially and environmentally aware.
Ofcourse, this is about leveraging technology for good, as well as embracing it to
drive business value
Modern innovations brings technological disruptions that lead to a complete transformation. Digital transformation is essential because it provides a valuable opportunity for business operations to move from legacy manual processes to digitally automated process, enabling leaders to focus on broader business opportunities and multiply their business outcomes.
Increased revenue generation
The business that has incorporated Digital technology have often experienced the following:
- Significant increase in sales, and hence more revenue generation
- Significant customer acquisition, retention, and satisfaction
- Product and process improvement
- Employee satisfaction
- Increase design and engineering productivity
- Improved product quality
Digital Transformation
What are the Key Drivers for Digital Transformation
- Increasing expectation for personalized experiences
- Introduction of disruptive technologies or emerging technologies
- The rise in competition for digital technologies
Digital Transformation Challenges
Digital Transformation Roadmap
Some of the critical steps to take for a successful digital transformation initiative:
- Keep digital transformation on top priority while crafting your business strategy
- We should collect and utilize data and analytics to make business decisions
- Adopt a company-wide approach towards successful digital transformation
- Maintain the combination of both people and technology to smoothen the digital transformation process
- Monitor and control the process as and when required
3D Approach to Digital Transformation
1. Define
- Articulate data and define a sound strategy for transforming legacy product or service.
- Define what digital transformation means to your organization from top management to new associates.
- Set objectives and align them with the ultimate vision of the organization.
- Conduct product assessment and cost-benefit analysis.Set priorities and implement the change.
2. Develop
- Identify critical checkpoints/milestones regularly.
- Create change and implementation plan with definite timelines.
- Develop the risk appetite and note success factors.Identify roadblocks and how to overcome these challenges.
- Make digital IoT platforms to get digital insights with Machine learning and Artificial Intelligence.
- Identify opportunities and find out ways to convert them into the business.
- Invest in people skills, tools, and systems.Initially, maintain digital stream separate from mainstream operations.
3. Deliver
- Perform testing of transforming services or products.
- Once transformed, the technology is ready to scale for intelligent automation, OT-IT operation, and process automation.
- Monitor and control the business parameters.
- Scale the transformation to other legacy products.
- Make the process and product improvements based on the results.
Key Principles of Digital Transformation
- Embed digital thinking across the organization.We need people to realize how digital can enhance their working capabilities. Encourage the team to advance its digital technical expertise. Make teams aware of what digital can bring to them and embrace digital innovation. Empower to innovate and create sustainable smarter products.
Digital Transformation Framework
Digital customer experience
- Digital Transformation is not technology-driven but customer-driven. The digital customer experience revolves around four elements
- It is essential to keep the customer in the center of product development to deliver an excellent digital customer experience. The focus should be on providing continuous support to the customer.
- Leaders are now aiming at better digital customer experience with their new digital business models. By incorporating flexible to change and call of duty practices in business models, companies can satisfy customer needs.
Digital Business Culture
- Digital must be part of the overall business and marketing strategy.
- The new role of Chief Digital Officer is an excellent example of how organizations integrate the digital as a business channel with broad responsibilities and a chair at the executive table.
- The digital aspect needs to be part of every primary organizational strategy, not a separate one.
Industries we help
- Healthcare
- Lifesciences
- Financial Services
- Manufacturing
- Public Sector
- Telecommunications
- Media
- Transport
- Logistics
- Retail
- Hospitality
Emerging Technologies we suggest
- Analytics
- AI
- RPA
- CX
- Cloud
- Cybersecurity
- Digital Workplace
- iOT
- Infrastructure
- Blockchain
- UI/UX
IT Strategic Planning
- Readiness Assessment
- Corporate Mission, Vision, Values and Goals
- SWOT Analysis
- Gap Analysis
- IT and Organizational Objectives
- Opportunities
- Strategic Initiatives and Processes
- Timelines for Action
- Assignment and Project Tracking
- Measurement, Quality Assurance and Feedback Loops
- Communications and Knowledge Transfer
Other services
- Migration Services
- Marketing Services
- Security Consulting
- Data Solutions
- Cloud Consulting
Context and Changing Business Climate
Digital has transformed BFSI organizations completely and today IT is not limited to just providing online and mobile functionality but revolutionized spectrum of services they offer to customers but have changed the way business run and operate in an highly regulated environment.
Organizations today can effectively plan, enable and deliver value from their digital business journeys. Technology delineates the future of the relationship of customers and banks. IT plays a larger role — in creating new possibilities and capabilities that will lead business strategies and operations into the future.
Digital Transformation in BFSI
Digital Transformation embeds digital into value stream of business and services. A perfect digital strategy is a critical imperative for a success of the Banks and Financial Organizations of future. The increasing adoption of smart devices with phenomenal computing power for customers alongside with evolution of technologies like Robotics, Artificial Intelligence, IoT, Cloud Computing, Blockchain & Cryptos , Biometrics, Big Data and Analytics, Virtual Reality /Augmented Reality and Mixed Reality for businesses the possibilities for transforming relationships into new revenue streams for competitive advantage , optimize cost and superior customer experience.
Imperatives of banks and organizations in future
| Customer Experience | Business Excellence | Risk Management |
|---|---|---|
| Hyper Personalization delivers message to a "segment of one Individualized experiences and relevance and speed in delivering the desired product and Service | Intelligent and autonomous processes augmented with exception handling though technology | Proactive Management of Credit, operational and Market Risks |
| Digital Experience with human touch interactions making the experience more personalized and contextualized | Application of transformation levers across all the aspects of processes with a CSI culture embedded into the system | Adhere and demonstrate compliance and control of the evolving Regulatory Requirements |
| Transparency. Security. and Trust on the ways their money and data are used | Real-time optimization of operating and engagement models for enhance On investment through Transformation Analytics | innovation and Proactive controls improving resilience detection and recovery of the services with minimal or no impact to customers banks and community |
Digital transformation is not monochromatic but is a collective representation of business model (strategy), business process, technology, Innovation and culture. Hence its imperative that the approach towards digital transformation is also a comprehensive and holistic
Our Approach
Objective of any digital transformation initiative is to deliver superior business and end user experience through a flexible, responsive and forward looking service that supports current and evolving business needs at an optimal cost.
- Personalized Customer Experienced
- Seamless omni channel experience
- Ensure highest level of assurance on data and their money
- Demonstrating leadership, collaboration and accountability to successfully support business
- Targeted Future of Work adoption
- Differentiated Classes of service - "Fit for Purpose"
- Improved performance through self help/self heal initiative
- Continuous Service improvements and Deployment of team techniques
- Use of technology basis fit for purpose, rather than board scale "carpet bombing" implementations
- Move from thick clients from thin clients, keeping interfaces light and User Experience stays at the Edge
- Benchmark and comparison against industry standards and adaption trends
- Align existing assets to make them "fit for purpose" and deliver value
- Pro-active mobilization of technology
3D Approach (Define – Develop –Deliver)
Examples of Digital Transformation Journeys
- Customer Onboarding
-
- Account Opening
- KYC Management
-
- Customer Account Servicing
-
- BAU Operations Management ( Customer Information Updates)
- Service Fulfillment (Non financial Transactions –Ex Balance Enquiry, Letters and Issuance of Certificates)
- Payments and Fund Transfer transactions
-
- Compliance & Regulatory
-
- Audit and Compliance
- Mandatory Trainings and Disclosures Management
- Ongoing and Regulatory Controls Management
- Daily/Weekly/Monthly/ concurrent review management
-
- New Business Products & Services
-
- Customized and fast product launches
- New and Personalized Service Definition
-
In Summary, Digital Transformation in Banks is far beyond just moving from traditional banking to a digital world. It is a breakthrough change as how banks and other financial institutions interact with various stakeholders to enable solutions. Successful Digital Transformation begins with an understanding of customer and business priorities and balancing them to implement changes that enable the organizations to leaps and bounds of prosperity and success with unwavering customer satisfaction
Training
Custom Built Training
A Gamut of Training Programs both necessary and need based will be delivered covering all echelons of the organization. The training workshops shall be conducted as in-house sessions and/or out-bound sessions.
A Gamut of Training Programs both necessary and need based will be delivered covering all echelons of the organization. The training workshops shall be conducted as in-house sessions and/or out-bound sessions.
Top / Senior Management Training
- Turn-Around Management
- Transactional Analysis
- Stress Management
- Effective Managerial Traits
- Personal Branding
- Being Effective
- Effective Meetings
- CEO Acumen
Credentials
Turnaround Management
CEO Coaching
WCM thru lean
Case Studies
Services
ASSURANCE & AUDIT
ACCOUNTING ADVICE
RISK ASSESSMENT
FINANCIAL AUDIT
MERGERS & ACQUISITIONS
COMPLIANCE AUDITS
PROJECT MANAGEMENT
LEGAL & REGULATORY
CORPORATE LAW
DISPUTE RESOLUTION
LABOUR LAW
EMPLOYMENT LAW
CORPORATE GOVERNANCE
INSOLVENCY & BANKRUPTCY
ENTERPRISE SERVICES
STARTING A BUSINESS
RUNNING A FAMILY BUSINESS
ENTERPRISE RISK
CORPORATE FINANCE
SMALL BUSINESS SOLUTIONS
PROFESSIONAL ADVISORY
RISK ADVISORY
MANAGEMENT CONSULTING
DEALS
CORPORATE STRATEGY
IT ADVISORY
RISK MANAGEMENT
OUR MISSION
“Let us transform our customers to an all new world of opportunities with partnerships and new offerings after the pandemic”
We are very proud on our technical expertise and our customer relationship standards which allow us to stay abreast of all the changes in the management consulting, financial reporting, and auditing arenas. We also make sure that we are up to date and stay informed of the many changes within the industries in which our clients operate. While performing an audit or consulting, we look for areas of improvement and provide suggestions for change, since change management is very important now than before.
We constantly advice and consult our clients saying:
Talented people and organizational structure are a source of competitive advantage. Profit making organizations are agile and focused, with the right leaders in the right positions. They have a very strong change management habits and the mind to embrace new ways of working quickly in an age of constant disruption and high-paced evolution. Successful organizations have high performance work cultures that engage and inspire their employees—and they align all functions to support a winning formula.
TapamsHeadquarters - Chennai
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
TapamsHeadquarters - Chennai
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHTapams Social links
.....
Copyright by Tapams. All rights reserved.
Copyright by Tapams. All rights reserved.