Requirements are growing
The complexity of restructuring has increased massively over the last 30 years. Roland Berger even reports a tenfold increase!
A good indicator of the complexity is the scope of the restructuring reports. Whole books are prepared. Meter by meter Excel wallpapers are used for analysis and planning. But not only legal requirements explain this increase. In particular, increasingly globally operating companies in increasingly complex markets require close support throughout the entire restructuring process.
The working technique has remained the same so far!
While the restructuring business is becoming more and more complex, the tech stack of many consultants is not following suit. Of course, there are some consulting companies that are already much further along. But on the projects themselves Excel and PowerPoint are still used as panaceas. At the same time, digital tools could be used to work much more efficiently in many different areas.
In short: what do restructurers do?
Companies in crisis situations cannot always restart on their own. Especially in liquidity crises, restructuring consulting usually comes into play. They are often commissioned by financiers to determine whether the patient is capable of restructuring.
If the restructuring statement is positive, banks are usually willing to provide further financing and the implementation of the measures begins. If the statement is negative... well, then it's usually over and the last one turns off the light.
Digital assistance in the concept and analysis phase
The daily bread of the restructurers is the struggle with various data sources and media. Only in the rarest cases there is a single point of truth. Accounting alone usually offers a whole potpourri of the most beautiful data sources and formats.
However, while Excel is the preferred format for most consultants, today there are various data analysis tools that can help consultants with consolidation and analysis. Even conspicuous features can be identified at the touch of a button. This is extremely important because companies in crisis rarely have error-free data.
Visualization can also take place in these modern tools without media discontinuity or updates. The nice thing about it? The whole thing is scalable and possible without the conflicting Excel copy on the desktop.
Why are we so interested in the industry?
Our idea of software for corporate transformations was born out of the restructuring industry. With Christian Kuhs and Dr. Jonas Steeger, two thirds of the founders behind Nordantech worked in the industry before the venture and witnessed the development first hand.
Digital assistance in the implementation phase
If it comes to a positive restructuring statement, the misery just begins. Again, Excel is used to track and push the implementation of improvement measures.
This can have fatal consequences! While the analysis may be updated a few times, the implementation often has to be accompanied for years. Incoming errors are pre-programmed. Excel does not allow you to work simultaneously, in real time and decent rally. It is therefore not surprising that there is great interest in a solution.
This is exactly where we come into play. Because Falcon is and was developed especially for the accompaniment of implementations.
What makes Falcon so good for implementations?
With Falcon, we already offer a tool that is ideally suited for planning and tracking measures.
- A project environment at the touch of a button
- Milestone & financial management across all measures
- Progress evaluation in real time and easily visualized
- Multi-client capability
- Flexibility thanks to monthly licence
The Project Library
The project library allows consultants to easily select from available standards with just one click.
Milestones, finances and status in one place
Falcon's project tree allows you to create any number of measures. Each measure has a milestone plan and changing effects over time (e.g. sales increase). Falcon not only compares the plan with the actual situation, but also aggregates all measures into a single project.
Simple rights management
Clients and consultants determine for themselves who can see and edit what. Completely DSGVO compliant.
All clients in one place
Falcon's hub structure allows all clients to be managed in one place. No matter whether it is always the same consultant or changing teams accompanying the mandates.
But there has to be more - and that is AI!
Roland Berger sums it up: "Monitoring the entire implementation in the form of tracking and status reporting is predestined for the use of artificial intelligence. Those responsible for the individual steps of implementing a decided restructuring concept are "driven" by the artificial intelligence along the due dates of defined individual steps and reminded of the implementation by automated e-mails or chats."
And that is exactly what we are working on! Already today Falcon makes it possible to accompany the implementation intelligently. Users receive e-mail reminders and there is also a chat. But we go one step further. We make Falcon intelligent.
We call our project Smart Measure. Our analyses are based directly and exclusively on internal project data. The trick is that the statements become better and better over time. For example, Smart Measure can predict over time which milestones are likely to be delayed - or completed earlier than planned. Similar analyses with real forecast-character.
Would you like to give it a try?
You may notice it already. Falcon and the restructuring industry is a matter close to our hearts. Are you interested in trying it out? It's quite simple! Write to us at firstname.lastname@example.org or start a 30-day free trial at the touch of a button.