$400mn turnaround at Asia Pacific Telco
“An excellent tool, really simple to use and has massively reduced the time we spent on admin."
An Asia Pacific telco company had been experiencing a slow decline, steadily losing market share to its competitors.
Wave was implemented to support the ongoing $400mn turnaround program. The turnaround team used Wave to create transparency and access to over 500 initiatives in parallel. More specifically, Wave helped by:
- Streamlining initiative management including planning, sequencing, and resource allocation
- Enhancing performance management by tracking if initiative actions were completed against planned timelines
- Increasing accountability and closed-loop conversations through strict weekly performance management cadence, leading to noticeable cultural and mindset shifts
- Improving alignment across turnaround initiative owners and reducing manual, error-prone process-related tasks
- Tracking variance between planned / forecast financial impact versus actuals delivered
- Improving performance reporting and financial variance tracking across the organization for senior management at the business unit and group level
To date, the turnaround team has achieved over $100mn in run-rate EBITDA savings over 2 months. Using Wave, the entire organization has generated a significant pipeline of initiatives that will bring increased benefits over the coming months. Additionally, Wave reporting was used to drive weekly performance management meetings, leading to noticeable cultural and mindset shifts.