- Commercial Impact with Bonhams
- Commercial Impact with Meggitt
- Rising Star – Jon Pacheco, Managing Consultant at Vendigital
- Experienced Leader Award – Julie Neal, Director at Vendigital
- Lifetime Achievement Award – Richard Gane, Partner at Vendigital
Winners will be announced at the awards ceremony on 14th November 2022
Commercial Impact with Bonhams
What started as a cost transformation to drive value from the external cost base, took on a whole new angle when the Covid-19 pandemic struck; the auction market and consumer dynamics were set to change forever.
Established 229 years ago, Bonhams is one of the world’s most successful auction houses with a strong global reach. Managing the sale of valuable, unique artefacts sourced from sellers all over the world, the former family-run business prides itself on delivering a truly bespoke service to buyers and vendors.
When senior stakeholders met with Vendigital to consider the findings of an initial two-week Opportunity Assessment, there was a paramount focus that customer value would not be a variable. Any transformation had to support the business in its strategy of always enhancing the customer experience. This challenge was against the backdrop of a business where each of the 50,000+ lots is a ‘one-off’ and might be sold for millions of pounds. Subsequently, a 10-week Benefits Assessment identified significant benefits in specific areas and a longer-term programme of work was commissioned to deliver those benefits.
With the commencement of that programme, Bonhams’ journey to a more profitable business with an increased focus on customer experience was underway. Delivered over 18 months in two distinct phases – ‘before’ and ‘after’ the onset of the pandemic – the programme focused initially on value up through a procurement lens. Once all parties had understood how the market was going to change following initial lockdowns, the focus widened to exploring ways to improve customer experience and achieving efficiencies through demand management and internal process review.
Bonhams has delivered significant benefit out of this programme, not only in financial benefits but in establishing what positive transformation and change can look like for the internal team and culture, but an enhanced customer experience that aligns with Bonhams market leading proposition.
Commercial Impact with Meggitt
With the planned acquisition by Parker-Hannifin in sight and the global aerospace sector getting back on the road to recovery, Meggitt’s focus on delivering top line revenue has rarely been greater. However, significant electronic component market shortages were holding back production, resulting in potential deferred revenues in 2021/22.
Meggitt was operating in a complex data environment, with 37 production sites operating on 12 disparate ERP systems. This lack of data visibility, compounded by challenging market conditions within the electronics sector, was making it difficult to source critical components. Despite facing significant supply and demand challenges, the business was also under ongoing pressure to reduce excess stock.
The design and development of an electronic components network availability tool was proposed. Drawing on its specialist data and industry expertise, Vendigital developed a unique web-based tool to facilitate the collection of accurate, near real-time data, to match critical component shortages with excess stock across the global network. The project involved implementing a five-step process, with each stage delivering value for the client enroute to a fully integrated network.
The Network Availability Tool has already helped Meggitt avoid deferred revenue and is likely to be a key asset as part of the acquisition of Meggitt later this year. At a time of global disruption within the electronics sector, the tool also has the unique power of breaking down barriers to collaboration between blue chip organisations across different sectors.
Rising Star – Jon Pacheco, Managing Consultant at Vendigital
When Jon Pacheco joined Vendigital in February 2021, he was excited at the prospect of translating skills and knowledge gained during his near decade-long industrial career to the world of consulting and rediscovering his passion for problem solving.
Jon recognised that starting a new job, and transitioning to a different career, during the pandemic would be challenging. He took a pragmatic approach by setting himself objectives to smooth the way and embed himself at the firm as quickly as possible. This led to him taking responsibility early on for enriching the firm’s supply chain knowledge base, drawing on his industry experience.
Jon was quick finding his feet on the client side too. Key to this was his ability to understand and empathise with the firm’s clients. Starting out by advising on a single work stream, Jon quickly won the trust of the firm’s largest client and took responsibility for managing the delivery of an entire programme, generating savings of £1.8 million in 2021. Jon also played an instrumental role in securing the client’s commitment for further projects in 2022, targeting a further £2 million in cost reductions.
Despite being new to his role, Jon’s drive and enthusiasm has shone through. This has been demonstrated in his ability to deal with fast-paced, multi-dimensional issues at the calibre of a seasoned consultant. As a result, Jon has been promoted after only 12 months in the business and will play a key role in driving growth in both Aerospace clients and consulting propositions.
Experienced Leader Award – Julie Neal, Director at Vendigital
With a passion for transformation and people development, Julie Neal’s personal and professional legacy revolves around supporting others and giving them the experience to succeed whilst leading complex client projects and delivering over £17.5m of savings – exceeding the targets on each one
As Chair of the firm’s culture champions, she thrives leading a number of key internal groups spanning areas such as diversity and inclusion, collaboration, corporate social responsibility and communication. Enabling others to reach their full potential is her primary focus.
Empathy comes naturally to Julie, something she has used throughout her career. She believes that everyone having a voice is vital to effective consultancy, and this is something she has learnt from her early professional experiences, including working ‘across the table’ as the client.
Since starting out as a management trainee at Marks & Spencer, she has had a varied career path:
• Hilton International – Senior Business Analyst, responsible for developing the UK supply chain strategy
• Sodexho – Supply Chain Controller, leading the European sourcing teams across 6 countries.
• Aramark – Strategic Purchasing Director, leading the UK function.
• Burberry – Director of Commercial Procurement, responsible for the global function which she developed from green-field site to global matrix function integrated within the business.
Each role has enabled Julie to evolve into the exceptional, people-centric leader she is today.
The words of Burberry’s ex-chief executive have always stuck with Julie: “It’s not what you say, it’s how you make people feel.”
Lifetime Achievement Award – Richard Gane, Partner at Vendigital
The consulting industry as we know it today would look significantly different without the contributions of Richard Gane.
Richard has developed some of the cornerstones of modern-day consulting. In particular, his pioneering cost engineering approach has transformed client outcomes and his firms’ performance.
During a restructuring project for Fiat from 1998-2001, he reduced the cost base of the automaker’s empire by 20%, ensuring their survival. In 2020, Richard led a team of Vendigital consultants to reduce the bill of materials (BoM) for Protean’s in-wheel electric motor by a factor of 5, helping the company on the road to industrialisation.
Richard’s exceptional leadership qualities have enabled him to pass on his passion for consulting to the next generation. A believer that ‘consultants need to have content’, he encourages team members to become experts in their field. His one-to-one, supportive approach has enabled junior consultants to benefit from his experience, while growing through hands-on support and responsibility.
At Vendigital, Richard has been recognised as a respected media spokesperson, regularly commenting on significant auto industry developments. At the time of the VW emissions scandal in 2015, Richard commented on the wider industry implications, securing coverage across many national and international media outlets.
Richard’s unique combination of truly innovative consulting techniques, commitment to client outcomes and investment in the development of his colleagues has ensured his lasting impact on the world of consulting.
Share this insight
Vendigital has been ranked in the top 50 of the Forbes worlds leading consultancies having been recommended across 11 categories.
Vendigital has been recognised as one of the UK’s leading management consultancies in the Financial Times special report – achieving a top 20 ranking for the third consecutive year.