NextLevel offers a variety of interim and project-based executive services and solutions. Considering increased business distress in the market (thanks, Covid), the brand wanted to highlight their expertise in restructuring. They also wanted to help prospects get to know one of their executives with restructuring expertise. We settled on an interview/profile format.
Bill Zang has over 30 years of leadership experience serving in senior financial and operating roles for public and private companies—in electronics manufacturing, consumer products, government services, construction, retail, and e-commerce. He shared insights about his favorite kind of work: restructuring and turnarounds.
What value does a consultant bring to a turnaround or restructuring?
The most rewarding aspect of working with distressed companies is there is high value added to the organization during the engagement. The right outsider can provide a critical fresh approach. I focus on three things:
Getting teams to work together
Together, I help teams mine their data to facilitate better decision-making.
What skills are required to add value to restructuring?
One of the first things you need is good data, which means understanding technology and reporting systems. With better visibility through data, you can find and fix inefficiencies to improve performance.
For example, I’ve helped several businesses—including two Fortune 500 companies—improve their financial reporting systems in order to better understand their cost structures.