Client Challenge: The CEO of a global offshore drilling company faced pressure from the Board of Directors to restore profitability to the company.
- The organization had grown too large; its ratio of management to field employees was almost double that of similar companies.
- Administrative costs were escalating.
- Overly complicated processes, unclear roles and reporting relationships, and lack of accountability distracted the company from its core purpose: Drilling.
- The company’s bottom-line was suffering.
Trenegy Response: We were hired to develop a plan that would lead the company out of its decline.
Trenegy surveyed frontline managers from all areas of the company via interviews and extensive workshops. Through these conversations, we pinpointed high-potential process, organizational and system improvements.
Trenegy designed and implemented a detailed reorganization plan for the drilling company, which would drastically improve revenue efficiency as a result of lower overhead costs.
Results: The changes allowed the company to save $80MM annually through consolidation and alignment of its functions. They saw a 30-40% reduction in G&A expenses in certain areas and centralized finance, accounting, supply chain and HR.
The organization received immediate accolades from major customers for improved operations and simplified points of accountability for customer relationships.