Challenge
The organization faced challenges with negative EBITDA, largely due to high labor costs. Despite steady growth and an industry leading team of epidemiological consultant, the company was far from achieving operating profit. Synergetics was tasked with analyzing the organization to identify opportunities for cost reduction and to develop a roadmap to achieving operating profit.
Solution
Synergetics focused on the following strategic initiatives, which enabled the organization to achieve cost savings while maintaining competitive positioning within the industry.
Optimize organization structure and enhance the span of control across technology, data, science, and all G&A functions.
Analyze employee roles, utilization metrics, and compensation structures, then strategize and execute the transition of high-cost non-core resources to the company’s offshore locations
Benchmark G&A functions against industry standards and workshops to vet opportunities
Strategically allocate overhead labor and non-labor costs to assess true account profitability and promptly address underperforming accounts.
Execute multiple RFP’s to choose vendors capable of supplying skilled scientists in epidemiology and technology services from cost-effective centers.
Negotiate and execute contract for off-shore Science team and lead successful implementation
