Isaac Operations - Company of the Year
Company: Isaac Operations, Toronto, ON, Canada
Company Description: Isaac specializes in hands-on, front-line operational and financial performance improvement without capital expenditure. Our team of highly qualified performance improvement engineering consultants work closely with companies to uncover hidden efficiencies to improve their operations and supply chain. Isaac is outcome focused, and delivers measurable results with guaranteed financial savings.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Business or Professional Services - Small
Nomination Title: Isaac
Tell the story about what this nominated organization has achieved since 1 January 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Companies have operational challenges that impact costs and efficiencies. These can affect delivery times, product quality and of course customer expectations.
Isaac is a small progressive consulting company that finds it’s large name brand clients hidden operational and financial process improvements while guarantying the results. For example, in the manufacturing sector, opportunities could be:
hidden production capacity
line pace and workload balance
product over specification
production planning and inventory
Typical improvements can be:
30-80% labour costs
4-10% material costs
40-100% capacity increase
results can be realized between 2-6 months
For additional opportunities and results in different industries, refer to sales presenter that breaks it down by the key industries we work in. We typically see an EBITDA increase of more than 2x our fee.
As part of the Isaac unique process, a team of Engineers who are the consultants, use a proprietary data collection and analytical approach to find hidden efficiencies and cost reductions that impact the bottom line. Another differentiator is that we work in-line with operators and train them to implement the sustainable results into their operations. That way, once the project is done, the operators are fully capable of analyzing for additional efficiencies, keeping the company operating with a process improvement mentality.
The unique process Isaac uses was translated into a piece of software that can be used to collect data as well as schedule quality checks in-line and inputted onto tablets. This eliminates the need for paper and transcription errors. In 2016, Isaac created and soft launched the new Manufacturing Execution System (MES) software that is used with manufacturing operations in-line to collect the data right from the line. The software, LiveTracking, is now running in 2 operations with 3 others in discussions for trials.
What has been a great achievement for Isaac is the rapid growth of 156% (refer to attached) that has been experienced since rebranding and separating from Newton (which operates in the UK and USA). Focused as a Process Improvement consulting team, the ability to provide companies with 2-8% towards the EBITA, guaranteed has helped gain new projects. The culture of the company of open communication and fun is also translated to the relationships with customers who have experienced great changes in operations and sign on for more larger projects (refer to attached). In addition, word of mouth referrals and introductions has also contributed to this growth.
With the growth in projects, the company’s headcount has also increased from 17 to 26 (52.9%) in just one year. New hires include: financial, marketing and software development. Consultants are Engineers hired from the top schools in Ontario and put through a rigorous training program in order to become industry experts and know the unique Isaac process. In 2016, a record 6 new graduates were hired. Isaac is a great place to start a career, not just for the exposure to work and ability to travel to different places across Canada, the USA and the UK, but for the culture as well. Every 2 weeks all staff return to head office from the field to present progress on projects. Projects then break off and mentors work collaboratively on solutions.
Isaac also provides employees with:
-formal salary curve program: everyone gets a 15% increase every year due to promotions and profit sharing program
-play a large part in other company divisions such as finance, sales/marketing, or recruiting
-5 weeks to unlimited vacation
-social nights out every other week
-paid tropical trip to all staff and their partner’s every year
-activity day once a month where all employees participate in experiences such as skydiving
With record revenues monthly, quarterly and over the past year, Isaac is positioning itself as a leader in Process Improvement consulting in Canada. As customer’s grow in numbers and size, Isaac is scaling for growth and and helping Canadian manufacturers be leading companies for operational excellence.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2016 (up to 150 words).
-Soft launched LiveTracking MES software in 2 facilities that has helped companies identify what are the leading causes of line inefficiencies.
-Revenue growth of 156% from January 2016 ($800,014) to March 2017 ($2,053,492) (refer to attached spreadsheet)
-Headcount increase of 53% from 17 to 26 (office and consultants)
-Average basket size of projects have increased 131% (refer to attached spreadsheet)
-Landed 2 new large national clients with projects worth a couple million (unable to share the names due to signed Non-Disclosure Agreements, however, their annual revenues are in the hundreds of millions range)
-Spoke at 2 large Canadian CEO groups to show the value in process improvements. Speaking engagements lead to new clients and brand recognition (TEC Canada, MacKay Forum)
-Implemented change in vacation from 5 weeks to unlimited and have maintained a positive and fun work culture that has helped drive our growth
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2016?