Background
A private equity fund that focuses on purchasing and leasing engines, passenger, and freighter aircraft on secondary leases, was anticipating doubling their size in the coming year. The CEO wanted to become more process focused and to allow his leaders to get up and out of the day-to-day work, enabling them to focus on the business development that was critical to their success.
Solution
The team extensively documented and mapped the core processes of the business, including finance and accounting, legal, sales, investments, technical records, and more. Training was deployed on setup and effective use of work management platforms, change management practices were implemented, and an intranet-based “single source of truth” containing process maps and relevant support documentation was purpose-built.
Results
Roughly 75% of identified processes were mapped, allowing several to be redesigned for efficiency and effectiveness during the project. For large cross functional processes, virtual kanban boards were introduced to replace spreadsheets, build consensus and communication, and embed automation into the managing of core transactions. The boards were fully aligned with process maps, creating interactive checklists and greater visibility/accountability across all involved teams.
Several transactions were proactively ended prior to incurring $200K in unneeded expenses due to earlier issue identification. Quote from Chief Counsel: “This project has changed my life.”
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