Revitalising the transport industry through finance transformation

The transport industry is facing a sustainability crisis, how can finance transformation help the industry recover?

Today, with travel at an all-time low due to various travel restrictions, transportation companies are facing an urgent need to transform how they do business to succeed in the new normal.

Since the invention of modern transport, the transportation industry has literally been the driving force of global economic development.

From delivering goods and services to the right place at the right time to taking brilliant minds around the globe to foster innovation and ingenuity, the transportation sector has played a major role in globalisation.

Economists believe that investing in the transportation industry through infrastructure development can have a positive net effect on the economy in the long term. That is why we have seen a boom in transport infrastructure development—both private and public—in recent years.

Even when the world was facing its toughest challenges, the transportation sector was at the forefront of sustaining the flow of material and human resources.

Today, however, the industry is going through a particularly tough time due to a combination of events, which has arguably led to the least mobility since perhaps the end of 1945.

In these circumstances, there is an urgent need for transportation companies to reevaluate their processes.

What this means is that transportation companies need to leverage all available tools to optimise financial efficiency and survive the economic repercussions ahead.

Optimising business processes will need a reimagination of how transport companies leverage procurement, finance, and project management functions.

Optimising core business functions to improve financial efficiency in crises

Traditionally, the transport sector has always operated in a low cash flow, low margin, high-volume business model. While this model was efficient in generating profits during regular operating conditions, the current business landscape demands an all-new business model.

The current business environment has also exerted a lot of pressure on smaller transportation companies that are strapped for resources to implement high-risk business models that may or may not improve financial efficiency.

What all this means is that transport companies, regardless of the scale of their operations, need to adopt inside-out finance solutions to overhaul their core business functions, measures of success, and add value to their operations.

Having said that, transformation is not achievable without a resilient business framework.

At Kronos Group, we help you build a resilient framework on top of which you can strategise the sustainable transformation of your core business functions.

Our experience and innovative approach to procurement, finance, and project management can help you build a resilient business model that can power your business forward regardless of the economic environment.

Enhancing resilience through finance transformation

The resilience of the transportation sector is largely dependent on how individual companies in the industry can respond to crises by optimising their core business functions. This needs to be done with minimal lag to avoid major disruptions to operations.

Responding quickly to unexpected crises is not an easy task. Transportation companies must assess the situation, formulate financial strategies, create action plans, and implement these plans in a relatively limited time to mitigate financial damages.

Acquiring finance advisory services from industry professionals such as Kronos Group can help you optimise your crisis response process for improved resilience.

As finance consultants to leading transportation companies, we have helped formulate strategies that facilitate:

Two million euros worth of savings on a four months timeline

Global training programmes delivered over six months

A-Z transformation over just five months

Timeless support of a specialised team for lasting value delivery

Our dedication to supporting you through your recovery process

At Kronos Group, our team of professionals are skilled at creating sustainable strategies through our procurement, finance, and project management solutions.

Our innovative and experience-based approach to supporting your recovery is facilitated by our range of optimised services, including:

Swift maturity
assessments

Cost
optimisation

A spend management platform

Digital
transformation

Outsourcing services

Training programmes

Functional transformation

Speak to us!

We support our clients with their strategic growth by leveraging our extensive knowledge and evaluating your business perspective with cutting-edge solutions that address current and future challenges.

Benefit from our dedicated consultants’ skills in the fields of procurement, finance, and project management by getting in touch with us today.