Business transformation and process optimization for Michigan-based parts manufacturer in the extractive industries.

Industry: Parts Manufacturing for Extractive Industries
Size: Mid-Market
Type: Privately held, Acquisition by Ascension Group International
Engagement: Acquisition

About

A leader in replacement parts manufacturing for the extractive industries

Williams Parts, an Ascension Group International (AGI) entity, has become a leader in its industry after its strategic partnership with AGI. With years of experience and profound industry insight, Williams Parts specializes in devising solutions synonymous with quality, durability, and innovation.

Challenge

Williams Parts needed to position itself for exponential growth by implementing strategic developments, optimizing operations, improving financial health, and elevating customer relationships.

Despite its deep technical expertise and history of successful manufacturing, Williams Parts struggled with outdated business processes, fragmented data systems, and a lack of a cohesive digital presence. The company’s internal systems for financials, inventory management, and client data were disjointed, leading to inefficiencies in time management, order fulfillment, and customer communication.

After partnering with Ascension Group, Williams Parts gained a comprehensive approach to address its biggest problems through a blend of local engineering and manufacturing know-how, process improvements, and a full-scale business transformation.

Solution

We focused on the most critical business transformation initiatives for Williams Parts

Local engineering expertise

By capitalizing on Williams Parts’ existing technical expertise, Ascension Group International helped streamline its engineering processes to enhance product development and production timelines. This reinforced the company’s commitment to high-quality parts manufacturing, particularly in the extractive industries.

Business process improvements

Ascension Group International integrated a financial system for real-time accounting and reporting, allowing for quicker decision-making and better cash flow management. Our advisors also introduced an automated inventory management system, improving stock visibility, reducing waste, and ensuring on-time delivery.

Improved time tracking

Introduced a modernized time entry system that allowed for efficient tracking of labor hours, reducing administrative overhead and improving labor cost allocation.

Results

The transformation led to significant improvements in both operational efficiency and customer engagement

Improved client relations

The centralized client data allowed Williams Parts to provide more personalized service, leading to stronger customer relationships and increased repeat business.

Operational efficiency

Streamlined processes in financials, inventory, and time entry reduced overhead costs, allowing Williams Parts to operate more profitably and scale more effectively.

Increased revenue

As a result of these improvements, Williams Parts saw a noticeable increase in new business and a higher conversion rate on leads due to clearer communication of their expertise and value.

These efforts empowered Williams Parts to penetrate new market segments within the extractive industries, resulting in diversified client portfolios and increased business opportunities.

Revenue Growth

Growth rate of 67%

Williams Parts experienced a substantial increase in revenue, with a growth rate of 67% within the first nine months of acquiring the company and a forecasted growth of 88% within the first year.

Customer Experience

Doubled customers

Visited all customer accounts to improve relationships, resulting in winning back one inactive account and adding four new accounts.

Operational Efficiency

100% on-time delivery

Improved on-time delivery from 25% to 100% and established secondary suppliers for specialized part processing. Expanded services offerings to include engineering for new parts and applications.

Financial Health

All payments on-time

Achieved current status with all vendors while establishing a robust line of credit structure, ensuring sound financial footing for future growth initiatives.

“Working with Ascension Group has allowed our team to understand bottlenecks on the front end of our process. One example of this is the new quoting process, which allowed us to eliminate massive time constraints and get quotes to our partners within just one week instead of the three weeks it was taking prior to our engagement.”

– Josh, Partner

Conclusion

A digital transformation success, significantly bolstered market positioning, and client acquisitions

With their intentions set on achieving digital transformation success, the meticulous approach taken by the Ascension Group International and Brightly teams significantly bolstered Williams Parts market positioning and client acquisition within the extractive industries. The synergy of a modernized website and refined company messaging delineated the brand’s value propositions more clearly and compellingly, fostering enhanced visibility and client interactions.

Contact us for an introductory conversation.

Start a Conversation