Business Process Management (Design, Optimisation & Reengineering)
Our business process modelling approach is designed to provide the management team with an independent and objective assessment of the effectiveness of the systems, operational and people policies instituted within a Company’s operational framework. The scope will primarily be specifically planned and designed to focus on key risk areas, taking into consideration the risk drivers relevant to the entity by considering the aspect of operations being reviewed.
Process designs, reviews or optimisations will seek to produce a revised organisational structure, effective systems and controls to drive the operational and financial activities of the organisation. The focus will be to produce structures, Standard Operating Procedures (SOP) and associated flow diagrams that will ensure operational efficiency and be replicable to ensure business continuity and the safety of the Company’s assets while preventing misappropriation of resources in all constituents of operations.
Strategy Review/Roadmap Design
A strategy roadmap helps you visualise the strategy for achieving your vision. It is a powerful tool for communicating the desired destination of the Company, rallying the entire team around the “why” behind the work, and guiding priorities. At Kreston Pedabo, we work to identify the strategic intent, priorities and alternatives that a Company can best execute to actualise its business goals over a set horizon. Then we build you a roadmap of how to get there; sometimes, our clients keep us on the execution journey.
Typically, when organisations are experiencing a transition in ownership or management, there is sometimes a need to bring in fresh independent and expert eyes to take the rein of affairs over a predefined period so as to bring the organistion to a state of stability. Operations management offers this administration of business structure, practices, and processes to achieve stability, business turnaround, or enhance efficiency whilst working to maximise profit. At Kreston Pedabo, we offer this management of functions that a business needs to run effectively day-to-day, including overseeing multiple departments to meet predefined goals, and will typically close out with the recruitment of the more permanent management team.
People Strategy, HR Operating Model
At Kreston Pedabo, we build effective HR operating models which help deliver effective services and value proposition to varoius Companies in an efficient manner. Within a review of an organisation’s HR operating model, we would typically recommend a Skills Gap and competency assessment to measure the performance of its systems and teams. We will measure and document personnel competency on their roles as well as assess the need for the roles themselves; our goal is to identify the root cause of issues with employee performance and to correct these issues before they affect organisational performance.
Loan Staff Provision (Outsourcing)
Outsourcing is one of the popular operating models that top performers within the Nigerian economy utilise to drive operational effectiveness, cost reduction, mitigate fraud, attract best talent and gain higher market share amongst others. Today, outsourcing is seen as one of the best management tools to strengthen business capacity. We typically provide outsourced staff in the areas of Finance (accounting, bookkeeping, internal audit, internal control, financial modelling), HR, and project management to our requesting clients.
Recruitment & Executive Search
At Kreston Pedabo, we offer a specialised type of recruitment aimed at attracting highly skilled senior management talent to an organisation. It is typically driven by the design of Assessment centres used to fill strategically important roles, including CEO, CFO, COO, HRD, and CIO, as well as entry level Graduate Trainees.
Organisations that realign their business models reduce breakeven costs and make use of appropriate capital management, coupled with innovative business solutions will not only survive present challenges but would defy analysts’ predictions by experiencing growth. Research has shown that the workforce of most organisations comprises of approximately 95% employees who are non-management staff. It has been consistently observed that companies that outsource certain categories of their staff and non-core business functions continue to post higher returns.
Outsourcing is one of the popular models that top performers within the Nigerian economy utilise to drive operational effectiveness, cost reduction, mitigate fraud, attract best talent and gain higher market share amongst others. Today, outsourcing is seen as one of the best management tools to strengthen business capacity.
Kreston Pedabo HR consulting provides business support solutions including one-off recruitment, outsourcing, learning & development, payroll management and performance management. All of which provide businesses with a better alternative to achieving process improvement, reducing cost, mitigating fraud and corrupt practices and laying hold of diverse opportunities in the the business space. We believe that all businesses can succeed if given the right mix of competences. These include the people, process, technology, culture, but most importantly, strategy. Our goal is to help our clients make a success of their efforts to achieve the right blend of these critical success factors.
Compensation & Benefits Consulting
Kreston Pedabo assists other organisations in ensuring that they are compliant, with a good understanding of the ever-changing state and national laws around compensation and benefits. This may include the review and or design of pay structures, the need to incorproate a standard and a remote pay structure to give employees access to their preferences; the design of pay policies including Benefits-in-Kind, as well as other pay packages that could improve an employers outlook as a Great Place to Work.
Customer Experience Evaluation
Our services under Customer Experience Evaluation are aimed at measuring the customer experience metrics of firms working to boost their customer retention. This typically includes the identification of drivers of satisfaction per business and sector – user experience, coneveniene, speed, time, cost, user interface – truly getting to the bottom of what the customers want, and identifying at a granular level, whether or not the company has met those needs. We will carry out surveys and statistical analsysis, speak to respondents, and are able to provide a holistis report – with quantititiave and qualitative insights – to guide the business’ improvement strategy.
The Nigerian Code of Corporate Governance 2018 (“the Code”) recommends that organisations should have an effective whistle-blowing framework for reporting any illegal or unethical behaviour to minimise the Company’s exposures and limit recurrence. Also, that the Board of Directors should ensure the existence of a whistle-blowing mechanism that is reliable, accessible, and guarantees the anonymity and safetly of the whistle-blower, and that all disclosures emanating from whistleblowing are treated confidentially. Kreston Pedabo is charged with the responsibility of anonymously logging all reports, escalating to the appropriate channels for investigations, and on a quarterly basis, issuing Whistle-blowing reports including all outcomes of reports per time.
Project Impact Analysis
Our services under the Project Impact Analysis involves the recording, examination and evaluation of all expected and unexpected results of a project. These would typicaly be tested against the project objectives to determine impact, success rates, and to ensure that all relevant learnings are taken into planning subsequent initiatives. This service is typically offered to development institutions, governments, and NGOs.
Commercial Due Diligence
The absence of an effective process can cause the failure of a merger action, result in the failure of the completed merger, and or render an investment null and void, therefore, at Kreston Pedabo, we take a step-by-step approach in determining the overall value that can be generated from a merger & acquisition or an investment in another company. Where M&As as well as other investment type decisions are of interest, commercial due diligence exercises to understand the external and internal landscape (financial, tax, market, legal, HR, etc.) of companies of interest are a mandatory step in the process.
HNI Portfolio Support [Family Business]
Wealth management and business sustainability have become more difficult in today’s transcending world. It is now more necessary than ever for High Net-worth Individuals (HNI) to plan their investments and consider the tax and regulatory implications of the same due to the constantly evolving and complex tax and regulatory environment as well as the new opportunities accessible in the market.
Our team of experts in business management, tax consulting, and advisory services wants to go with you while you grow, safeguard and preserve your wealth and assets. The success and longevity of your business depends on how you manage your ownership and business strategy. We can be by your side with the insights and solutions you need to stay ready for growth at an accurate pace, no matter where your company is in its journey to success. We have brought together the necessary experts who are aware of the unique requirements of wealthy people and business owners. They can offer sound, practical guidance that is unique and robust in a way that you can grasp and allow you to advance.
HNIs – whether expanding locally or internationally – will have access to Kreston Pedabo’s unrivaled global network of tax and advisory professionals, as well as a genuinely integrated solution, which frequently serves as a single point of contact for all of your international compliance and tax needs.
Payroll Management Services
Our services under payroll management are aimed at taking the burden of the payroll function off the chest of our clients so that they are able to focus on their core business activity. The service is also geared towards ensuring efficiency in payroll calculations and statutory deductions (tax, pension, NHF, etc.) administration in a manner that eliminates the risks of missing deadlines and suffering the attendant penalties or legal consequences, while also ensuring the confidentiality of personnel emolument information both within and outside the organisation. Our payroll management service covers the following:
- Receipt of periodic payroll instructions;
- Preparation of monthly master payroll in line with instructions;
- Joint review of draft master payroll with client’s finance unit;
- Preparation and dispatch of monthly and annual personalised payslips;
- Preparation of annual payroll summary;
- Registration of new employees with the chosen pension agencies;
- Open and maintain a client-dedicated bank account for the administration of payroll;
- Make monthly disbursement of payroll charges to employees, pension, tax/revenue authorities, etc. from the dedicated payroll account.
ESG & Sustainability Reporting
Environmental, Social, and Governance (ESG) each refer to pivotal factors required to measure the holistic sustainability and societal impact of an organisation’s activities. At Kreston Pedabo, we can help you unlock a practical blueprint to achieve your ESG goals and assist you to gain a competitive edge. Critical issues we would consider vis-a-vis your particular business are ESG measurments and reporting, circular economy, ethical supply chains, climate change, as well as all measures to achieving decarbonaisation.
With our global collaborations and expertise, we can help to illuminate the opportunities for your business as you progress on your ESG journey.
In light of the recent launch of the ISSB standards for sustainability-related disclosures effective January 2024 and the FRCN’s commitment to early adoption of IFRS S1 and S2 standards, Kreston Pedabo assists public interest entities to adapt these standards to their Sustainability reports in other to meet the regulatory requirements. To achieve this, we will carry out IFRS S1 and S2 Review and Implementation exercises, respectively.