"Modini provided the essential insight, transparency and leadership throughout their tenure, and are one of the best companies we have worked with."
CSignum is a communications company who own unique subsea wireless communications technology. They provide solutions for a variety of complex problems, such as corrosion monitoring on offshore wind turbines or deep-sea seismic monitoring.
CSignum was struggling after a long period of poor financial and technical performance. The board needed full spectrum C-suite support to help them understand the state of the business and its viability while simultaneously leading a demotivated workforce through a transformation programme.
After an initial review of the company, Modini provided an interim CEO and COO to complete a thorough analysis of the company finances, IP position, prospective markets and technical capability. In addition, Modini provided deep expertise across all business functions (finances, HR, project management, strategy development, commercial and marketing) through its reach-back capability, offering a breadth of support far greater than the on-site delivery team alone.
At the point of handover, the company held state-of-the art HR systems, policies and procedures, an engaged workforce, robust board-approved budget and forecasts, a clear strategy to lead them to profitability and a company vision with buy-in from the staff.
Modini provided the leadership needed to motivate the workforce and reduce staff turnover, whilst designing and transforming the company’s policies and procedures. Modini deployed project managers, and mechanical, electrical and lead software engineers to address the urgent needs of the specialist engineering teams.
Initially Modini was asked to act in a board advisory capacity, supporting the investment team to rationalise the business. However, following a radical transformation programme, Modini was asked to step into the C-suite roles where we provided the CEO, COO and CTO functions. We then proceeded in transforming the company in four distinct phases:
Modini completed early analysis on the company as a whole. We reviewed staff (recruitment, retention and competency), product maturity, sales activities, financial positioning, commercial obligations and ongoing projects.
Modini put plans in place to improve the organisation through a change management programme, which saw a significant business transformation. During this phase, Modini supported KPMG through a pre-pack administration action.
Modini optimised the engineering programme and focused on delivery of a common architecture system with their software and mechanical engineers providing technical expertise.
Modini executed a transition programme from them to core staff.
Nick comes from a complex programme delivery background and leads the strategic direction, operational delivery and risk management of the company.
Owen has led international teams to design and deliver projects and programmes from infrastructure to innovative technology. This experience underpins Modini’s operational excellence.