City Fios

Client - Major Stock Exchange

Business Challenge

Our client was undergoing a transition from being a mutual company, owned by its customers, to a "for profit" public company owned by its shareholders. City Fios were originally asked by the CEO to assist the senior management team in a review of their cost base and a change in the client's corporate culture based on focused, performance related management information

How City Fios helped

  • City Fios performed a detailed review of the client's technology cost base, including negotiation with key suppliers, resulting in a very significant reduction in annual spend. As part of this review, new cost monitoring MI was introduced
  • Assisted with a firm-wide reorganisation, working with the CEO to define the overall structure, and facilitating detailed organisational reviews of key business areas with the CEO's Direct Reports
  • Assisted with the design and implementation of a firm-wide CRM system, including review and re-design of cross business sales processes, and using our Fios sales tracking system to prototype the revenue tracking element of this work. We also supported the client through a full implementation with an alternative vendor
  • Assisted in the development and review of key new business proposals
  • Given our in depth knowledge of the client's cost base we also assisted in identifying synergies in a number of merger negotiations
  • Developed and implemented a performance reporting process throughout the main Division of our client (60% of total staff)

Outcome and benefits

  • The client has successfully transitioned from being a mutual company to a successful plc. Its cost base has been significantly reduced while revenues have increased. Its share price is a multiple of the IPO price. The management team that City Fios worked with remain in place