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I worked on ... Delivering double-digit growth at KPMG Sri Lanka.

Document Cited in Related
Vincent
AuthorMihular, Reyaz
PositionReyaz Mihular

Start date 2010 End date 2012

When the civil war in Sri Lanka ended in 2009, the local economy grew. While a significant increase in revenues for KPMG was welcome, we were aware that this "top-line performance" masked a number of challenges.

Our people were focused on revenue creation. However, this was not reflected in greater profits. If anything, we recognised that revenue growth was being achieved at the cost of margins and needed a more informed approach to growing the business.

We decided to conduct an annual client service review - it was not surprising to discover that our people spent the majority of their time on the most satisfied and highest revenue-generating clients, but there was room for improvement in our recoveries.

KPMG hired CIMA-qualified management accountants to provide a real focus on cost drivers and analysis to support investment decisions.

We were immediately challenged over our business model, our use of people and our route to market. Our LIMA people benchmarked our competition and provided recommendations to ensure we were market leading. It made staff aware of the margins of the jobs they were working on and allowed us to make some decisions around the utilisation of our people and our focus on investment. It also led to KPMG selling its secretarial services business...

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