Introducing An Eco-system To A Way of Managing Multiple Strategies
Challenge:
Eco-systems are designed with the intent to support simultaneous initiatives, but can feel real pains when it comes to managing, implementing, and adjusting a multitude of strategies across inevitable silos.
We partnered with a high-growth healthcare company needing all of their business acquisitions to maintain organizational integrity without giving up independence.
Additionally, leadership needed a bird’s eye view into each facet of the business so they could understand strategic progress and track impact of resources.
Solution:
The main goal when partnering with this organization was to provide one source of truth for leadership. At least six acquisitions a year equals a lot of sourcing, a lot of due diligence, and added pressures once the opportunity is acquired and needing to perform, fast.
They needed a resource for consistent reporting over the current state of each arm of the business from within one platform.
After making those reports 3x faster to receive, we were able to add a data-driven feature to help teams prioritize which initiatives would drive the most value within the business.
Results:
Our customized, cloud-based solution enabled the client to create a Business 360 for any opportunity they were contemplating acquiring within a matter of days. It also gave the company an evaluation tool to use on existing businesses to understand the current state, positive and negative effects on the business, and adjust their strategies accordingly.
Maintaining strategic integrity, while accelerating growth across an organization is a tall order and can be a major pain point for every department. Here are some of the challenges the Journey Strategic Platform helped alleviate for their teams.
How Departments Use Journey
Operations:
Operations is challenged with bringing in multiple clinics into the corporate environment. They will benefit from shared resources, but each of those entities come in with their own processes, biases, fears, and wishes for the business. We deem that “baggage,” Operational Behaviors. Each clinic is at a different level of Operational Behavior even well after a traditional integration is complete. So the challenge becomes:
How to manage multiple strategies across multiple adopted clinics?
How does operations demonstrate the impact of these acquisitions?
Can we prove the influence of these behaviors?
How are these strategies impacting overall ROI?
The platform provides a “standard” by which operations can begin to measure and demonstrate each of those elements. This also allows operations to clearly prioritize the strategic changes specific to the clinic’s needs. The Journey Strategic Platform serves as an organization’s “control panel,” if you will, providing the ability to determine where each business is in the execution of implemented strategies.
M&A:
The M&A team, whether in house or external, has the challenge of identifying the status of a prospective clinic’s operational behaviors and maturity. Currently evaluation is a time consuming process centered around KPI’s, market potential, and other standard M&A measurements. Our main focuses for their corporate development teams were:
How can this team find out if a potential acquisition has the capacity to operate under a new entity?
How can they identify operational pitfalls earlier on in the process and de-risk opportunities on the front end rather than after the deal is done?
Is there a way to prove what should be prioritized within the first 100 days of integration?
We built the Journey Strategic Platform to cut the time required to vet potential partners and accelerate growth. For our M&A clients, the suite of Assessments hold real value. Giving them a way to measure an opportunity’s Change Capacity and gain access to their Internal Processes within a matter of hours has allowed the entire sourcing process to quicken and better acquisitions to be made.
Management:
Gaining clarity and proof of “why" KPI’s are being impacted positively or negatively is the puzzle management spends most of its time trying to solve.
Traditionally, cause and effect of strategies have had too many variables and external influences to calculate with accuracy.
Plus, the ability to dive down from 50k foot fly over to remediate challenges is clouded by ambiguity to where their focus needs to be. All of this strains time and resources, causing delays and potentially a bad position with investors or board members if teams are unable to articulate the specifics.
Utilizing the platform, the management team is able to look out across all clinics to see existing KPI’s as well as new KPI’s that are centered around operational behavioral changes. From there they can zoom into specific areas of the business with laser focus and directives.
By using Journey to guide your strategic planning process, teams are equipped with demonstrations of both “why” they got to where they are, “what” next steps are in the plan, and can pivot accordingly as needed. The overall clarity enables management to deeper understand the types of clinics being rolled up into their environments and make more informed, predictive decisions.
Investors/Board:
The board and investors have a need to understand how investments are performing, but are limited by a team’s lack of ability to clearly demonstrate impact.
“KPI’s are great, but Journey helps me understand what my money is doing and where I can jump in to help.”
Without real time knowledge of what is and isn’t working, allocation of resources cannot be amended as quickly as it is needed to.
Investors’ hands are tied until proof of impact is delivered, so we created portions of the platform to generate automatic reporting with board meetings in mind. By using Strategy Builder, Wins Tracker, and other process enhancement features of the tool alongside your strategic plan you are able to demonstrate impact when it is most necessary, providing confidence in the numbers and understanding of what behaviors it will take to change them.