Case Study

Founded in 1991 in Perth, Pacific Finance Australia (Pacific Finance) has grown to be Western Australia’s leading independently owned equipment, commercial and residential finance broking group. After a period of sustained expansion, Pacific Finance engaged Checkside in 2020 to aid in the development and implementation of capability and capacity building as well as succession projects.

The first step was to conduct a detailed organisational review, which included a formal staff feedback process. A foundational pillar of the engagement was to subsequently develop an integrated business plan and Strategy on a Page (SOAP) to guide group decision making.

Two critical elements emerged for Pacific Finance from this initial review:

  1. the need to streamline its structure and build a strong support network around each Director by training new graduates from the ground up; and
  2. the importance of continuing to invest in its core team and ensure success is adequately rewarded

Checkside also established a new series of operating rhythms for Pacific Finance in order to support the execution of the strategic plan and worked closely with a highly-capable financial partner (Your Financial Controller) from Checkside’s network of trusted partners to develop and embed a detailed financial dashboard for the business.

Client Outcomes

Once established, the financial dashboard significantly improved visibility, developed stronger accountability and facilitated more timely decisions making for the business.

The engagement also highlighted the requirement to support the internal management team in order to deliver both operational efficiencies and succession pathways for key staff.  A crticial element of facilitating these changes was to support the emerging management team with expert capability building and coaching.

Checkside’s Leadership turbocharge program provided the necessary development and coaching for the operational leadership group to iteratively shape the business to create clearer lines of accountability, and build a comprehensive monthly operational dashboard to compliment financial reporting.

The results for Pacific have been impressive, streamlining the organisational structure and allowing key personnel to be retained and grow.  The group recorded increased growth of 20% in FY21 and the impact has continued into FY22, with significant outperformance being delivered compared to budget.

Managing Director Commentary

According to Managing Director, Jeff Doig “Pacific engaged Checkside to ensure we were well structured and equipped to take the business well into the future. We wanted to set in place succession planning and business growth. Checkside helped identify and implement what we needed and has assisted us to put in place clear foundations for the longevity of the staff and the business.”

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