Using Financial Know-How to Boost Competence and Confidence

The Client

A large professional services firm with consultants who are required to have a strong financial understanding

Key Takeaways

  • Identified methods to effectively educate consultants in key finance areas.

  • Originated an intensive, interactive program to fill skill gaps.

  • Implemented a successful workshop that was incorporated for future onboarding and training.

The Challenge

Our client was a large services firm with a significant number of consultants for whom solid financial understanding was a must-have skill. Most of their customer engagements involved a substantial amount of finance content, including basic bookkeeping, systems and controls, budgetary review, financial analysis, and accounting treatment.

The consultants did not feel equipped with the existing financial knowledge and skills required to fully engage with their clients. In addition, customer feedback indicated that this lack of understanding undermined their experience of the consultancy service and had a negative impact on any future work or recommendations.

The Solution

Tasked to deliver a 5-day, highly interactive and practical program, we developed a finance boot camp. It was designed to take the consultants from basic bookkeeping to complicated business valuations, and everything in between. The solution was tailored to the specific context in which participants operate in every day, and it analyzed and addressed the developmental gaps identified by the organization.

The Result

Following a series of workshops, the firm noticed a significant improvement in both client feedback and employee satisfaction surveys. The consultants had acquired new skills and increased their commercial and financial awareness, helping to raise the firm’s competitive advantage.

The program was so successful that it was integrated into their learning and development strategy and is now regarded as an essential workshop for all new consultants who join the firm.

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Key Takeaways

  • Collaborated with client to find effective solutions with a limited budget.

  • Identified a two-prong solution: one delivered by Kaplan, and one delivered by the client’s existing internal team.

  • Improved the communication and partnerships between their finance and non-finance staff, in addition to compliance with key procurement processes.

Key Takeaways

  • Assisted client to develop and deliver classroom-based workshops.

  • Updated courses as needed to match global adoption.

  • Developed capability framework for technical capabilities and competencies.

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