LUCENT Advisory

BACKGROUND

Please describe your company and your position there.

We are a hospitality and leisure company offering hotel and yatch services to our customers along the Msasani Bay in Dar es Salaam - Tanzania.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LUCENT MANAGEMENT CONSULTANTS?

Valuation of Employee Gratuity and Leave Encashment for reporting and compliance purposes.

What were your goals for this engagement?

To establish a fair company's liability position with regards to employees gratuity and leave encashments.

SOLUTION

How did you select LUCENT MANAGEMENT CONSULTANTS?

LUCENT were very professional and objective in meeting our need.

Describe the engagement in detail.

Simply the actuarial valuation of gratuity and leave for compliance and reporting purposes.

Describe their billing or cost structure.

They charged based on time spent and their fee was far fair compared to their competitors. We thank the rating agencies which revealed LUCENT to us for this purpose and possibly many more to come.

What was the team composition?

Managing Director, Valuation expert and a relationship manager.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We actually got a very nice report with objective assumptions and valuation methodolody was straight to the subject of the exercise. we appreciate their commitment and creativity in sorting our their clients' concerns. they are the best experts we have ever worked with.

How effective was the workflow between your team and theirs?

It was the best teamwork we have ever imagined. We actually realized much value in terms of workflow and this is what we expected of an expert.

What did you find most impressive about this company?

Their costs and seriousness when delivering on a client's matter. they take each second very serious and any client's comment makes weight to them. Best in class experts in deed.

Are there any areas for improvement?

We would like them to train more upcoming consultants so they can have the same or even far better approach then the current LUCENT approach. If it were within our reach, we would have advocated for a merger of many consultants or even get LUCENT Consulting train them on how to deal with the pressing clients' concerns. LUCENT is the best in our market.

BACKGROUND

Please describe your company and your position there.

I am a chief operations officer at MudTrans company limited, a company that deals with inbound and outbound logistics. We have been into operations since 1993 and have now grown into a company with 89 customer contracts and a fleet of 290 trucks all ready to service our customer needs. We are best in the southern highlands of Tanzania and serve various clients inside and outside Tanzania.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LUCENT MANAGEMENT CONSULTANTS?

As a growh strategy, our company wanted to acquire new trucks on a finance lease agreement and were not aware of how exactly this can be executed. This is why we hired LUCENT Consulting to prepare us for the transaction we wanted to do with one of the Africa's prominent financing company based in South Africa for the acquisition of more than 38 new trucks for our business.

LUCENT's experiance and their commitment to taking their client's matters as theirs attracted us to engage them and we actually appreciated their dedication and we realized the value in consulting with them.

We now have the trucks and decided to retain LUCENT Management Consultants as our strategic consultants going forward as they are ahead of the market and have all that can be expected of a business consultant.

What were your goals for this project?

Our goal was to ensure that we make an informed decision in reaching out for a finance lease company that can hold a transaction with us in acquiring new trucks. We wanted LUCENT to review our position and prepare us for such a financing move.

SOLUTION

How did you select LUCENT MANAGEMENT CONSULTANTS?

We selected LUCENT based on their ratings and public perception. On top of that, we had already met LUCENT's director on one of the trade shows and had a lot to share with him which actually enlightened us to realise the availability of such smart consulting firms with brighter miinds we had never come across before.

Describe the project in detail.

LUCENT had to review our operations, contracting, accounting, marketing, personnel, and compliance to ensure that we meet all the qualities of a creditable business. We had to let an independent eye of LUCENT shine on our weaknesses and strengths to give us a clear path to achieving the greater success we have been strategizing for.

We actually appreciated LUCENT's approach as they touched every aspect of our business to come with a lot of constructive findings that have built us stronger and strengthened our sustainability strategy.

What was the team composition?

The best thing we experienced was seeing the managing director being among the team that came to sort us out. The managing director was always on the edge of everything and he was the first person to keep the entire time together with our staff at ease and calm.

We are actually impressed with the way they tool our concern very serious and decided to dedicate more resources even though we thought their fee charges were not enough to cover their input resources.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

We actually succeeded to acquire all the trucks under the finance lease agreement and LUCENT facilitated all this. We actually managed to complete this transaction deal within the shortest period as claimed by our creditor. We have now realised improved cost reduction practices and have reduced our clients' delivery time to neary 38% of the previous deliveries. Instead of an average delivery time of 6days we recorded before engaging LUCENT, we are now delivery at an average of 4 days which then saves time and cost.

How effective was the workflow between your team and theirs?

LUCENT has a great team that turns a day's hustle into fun hence making daily responsilities a thing my staff got attracted to. I actually think of organizing a monthly invitation of the LUCENT team to our work place to maintain that morale they left with our staff.

What did you find most impressive about this company?

Their fees are very reasonable and I can say, one can willingly pay more than what they bill for they offer top quality and value-adding services.

Are there any areas for improvement?

I think if they can establish more regional offices to ease face to face accessibility to their invaluable expertise would be practically the best move.

BACKGROUND

Please describe your company and your position there.

I am the Managing Director and the owner of the company. I am streamlining my business processes hence engaging various consultants to bring in skills and technical know how to help improve my business.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LUCENT MANAGEMENT CONSULTANTS?

For Independent Business Review and Streamlining of the Finance Function including setting up an accounting system and training my staff of proper recording and management of accounting records to keep us informed of our business performance

What were your goals for this engagement?

My goals were to establish the position of my business. To understand how performance has been and establish the future of my business. This is to prepare my business in order to be able to secure financing in the future for expansion and growth.

SOLUTION

How did you select LUCENT MANAGEMENT CONSULTANTS?

I invited applications from various consultants and LUCENT MANAGEMENT CONSULTANTS emerged a top quality firm with their experience, methodology, education and client testimonials.

On top of that, the demonstrated cost efficiencies with their reasonable consultancy fees and high quality as testified by their earlier clients I touch based with to seek comments.

Describe the engagement in detail.

The engagement included the following tasks:

1. Review of the historical financial results for three years from 2018 to 2020
2. Review of the company's compliance with all regulations including the revenue authority and establishment of total exposure.
3. Review of the operations policies and guidelines and recommend improvements
4. Review of the Finance operations and practices and advice on the best ways for improvements
5. Valuation of our business on a free seller, free buyer basis.
6. Review of the credit readiness and advise on the best practices in preparing the company for future credit sourcing.
7. Advised on the best ways for corporate governance and strategic investing.

Describe their billing or cost structure.

Their billing included the following components:

1. Time (charge
2. Travel, meals and accommodations
3. Stationers and communications

What was the team composition?

1. Project lead (Director) (1) 2. Project Manager (1) 3. Associate analysts (2) 4. Accounting systems specialist (1)

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

Within a period of two months, they have completed the work. We have realised best results and value as we are not having a fair equity value of our company and our operations have improved to result into improved business performance and strategic information management.

We have also been able to secure funding from one of the local commercial banks of about USD 300,000 as we were able to demonstrate the performance of our business and give evidence of our audit trail to support our performance.

LUCENT MANAGEMENT CONSULTANTS are really what the market needs and they are what we have been looking for. It is our commitment now to work with them in quest to ensure our business sustainability.

How effective was the workflow between your team and theirs?

They have been fantastic in managing the project and what I can briefly say is they have top most people skills that do not bring about coordination challenges. They are friendly in a way that, they turn responsibilities into funny tasks which can then be executed with passion.

What did you find most impressive about this company?

Their fees are too generous and reasonable compared to other CONSULTANTS. But then, they exactly meet every promise. I liked their sense of ownership, they take their clients' concerns with due care and make sure the client is relieved of any stress and unanswered puzzles.

They also build so much confidence and trust to their clients thus leaving us settled and focused on strategic business matters.

Are there any areas for improvement?

They are the best. They only need to maintain the quality they have and their customer relationship management is top notch.

BACKGROUND

Please describe your company and your position there.

I’m the founder and Managing Director at digital agency, I oversee financial, planning, execution and relationship for our clients.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LUCENT MANAGEMENT CONSULTANTS?

We were intend to establish a digital venture but we had no idea, Our company hire Lucent Management Consultants for Business Consulting and tax advisory. We needed a reputable and reliable team that will guide us step by step on the establishment of our venture.

What were your goals for this engagement?

Our main goal was to perform a market research and registering a business venture that will be stress free from tax, hazards, market depletion as well as technology trends.

SOLUTION

How did you select LUCENT MANAGEMENT CONSULTANTS?

We perform an online search for best business management consultants and tax adviser, we meet Mr. Dickson Tumsiime and many more, At the end we choose him because of his superior experience as well as his great ability in listening and his collaborative approach.

Describe the engagement in detail.

First, we contacted them and schedule an appointment to discuss our goal and objectives. At the day we meet we use to familiarize and get to known one another, then we handle the work over them.

Their suggest essential things and gives us the direction on where to start, their assist as in business registration process, Tax preparation, financial structure, market research, financial audits and many more.

We still work with them until now in tax advisory, financial audits and business consulting, their help us to discover more market opportunities through collaborates approach we established with them since the first day we meet.

Describe their billing or cost structure.

Their have a flexible pricing, and an impressive thing is there are always read for discussion, their can work with both small, mid, lager and enterprises , their prices mind vary day to day depends on the needs and the size of the venture.

What was the team composition?

We mainly work with three people, Senior business consultant who was the main point of contact, and two team member who support other tasks.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

Within 15 days, their accomplish the business registration process and the majority of planning and structuring the whole business process. Overall, we made a strong and smarter decision which result into strong process that leads our venture became one of the top ventures in Tanzania within the first three years.

We also appreciate how well their handle our tax matters and create a best business plan as well as performing a best market research which generate more sales up to know.

How effective was the workflow between your team and theirs?

The onboard process was well organized. Our consultant was easy to reach and we share regular updates. We talk over the phone every time we had an issue and we use emails as well as customer portal for everything else.

We have a monthly meeting, their regularly come to our office for information from our accounting packages we develop on our own for our business, and business strategies.

What did you find most impressive about this company?

Their collaborative working approach as well as time saving services. They are very experienced and they transformed our business mindset, making us who we are in the market today.They’re professional, get work done correctly and efficient, and help us make informed business and financial decision.

Are there any areas for improvement?

Their job is the best, we would love to see LUCENT MANAGEMENT CONSULTANTS come up with some sort of an internship opportunity so that a large group of youth can benefit with the potential from Lucent.

BACKGROUND

Introduce your business and what you do there.

I’m the director of CBG Construction Co. Ltd, a construction company that trades construction materials.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with LUCENT Advisory?

We needed help with our financial statements audit and tax planning.

SOLUTION

What was the scope of their involvement?

LUCENT Advisory has carried out our annual financial statements audit and filed our annual returns. The team has also advised us on the best financial management practices while ensuring compliance with our tax laws and regulations. The deliverables have been audited financial statements, annual tax returns, a management letter, and regular monitoring.

What is the team composition?

We’ve worked with 2 teammates from LUCENT Advisory.

How did you come to work with LUCENT Advisory?

We found LUCENT Advisory through an online search. The team had the best reviews and ratings. When we contacted them, they were quick to respond and gave us time to hear what we needed from them.

What is the status of this engagement?

We started working together in April 2024, and the project is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Thanks to LUCENT Advisory’s work, we’ve reduced our tax exposure and achieved timely compliance, resulting in 26% tax savings. The team has also advised us on cost-cutting strategies that have resulted in a 12% reduction in operational costs.

How did LUCENT Advisory perform from a project management standpoint?

LUCENT Advisory delivers on time and responds to our needs. We communicate via email and phone calls.

What did you find most impressive about them?

LUCENT Advisory has great time management and communication skills.

Are there any areas they could improve?

No, there aren’t any. LUCENT Advisory is the best.

BACKGROUND

Please describe your company and your position there.

I am the General Manager of SUPER FEO ENTERPRISES COMPANY LIMITED, a group company that runs subsidiaries in the passenger transportation (Super Feo Express and Selous Express) and the cargo transportation business. Our company is headquartered in Songea Rural in Ruvuma Region and has over 30 years of experience in the transportation and logistics sector.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Lucent Consulting, and what were your goals?

In the course of expanding our passenger transportation business, we wanted to acquire new scania buses (Marcopolo G7) however, we had no cash available for that transaction. We then planned to acquire the businesses on credit. We then applied for asset financing to a third-party financing firm, but our application did not qualify which then pushed us to ENGAGE LUCENT Consulting to help prepare us for financing.

LUCENT Consulting did their best to prepare as in terms of management and internanl controls. They ensured that our business was transformed into a professionally managed and market-competitive one.

SOLUTION

How did you select this firm and what were the deciding factors?

LUCENT Consulting streamlined our accounting practices and financial management. They even provided us with the ERP system (LUCENT ERP) which ensured that all our financial and operational data was tracked and kept professionally for business continuity. They helped us in ensuring total compliance with both internal and external policies and regulations so we can ascertain our going concern.

They carried a BI exercise to help with our potentialities and carried a business appraisal in relation to the buses we wanted to add to our fleet. LUCENT Consulting helped with preparing proposals, applications and managed the communication with our financier and chaired the discussions with our bankers to evaluate the business relationship.

Thanks to such a wonderful team of young and talented experts, i hope their experience and resourcefulness can be benefited by other businesses too.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

LUCENT Consulting performed the following in this project

1. Assessment of the AS-IS managament and operational condition of the business
2. Performed a need assessment and recommended the requirements to improve profitability and ensure continuity
3. Provided us with LUCENT ERP, an enterprise resource planning system that manages our accounting, assets, human resources, customers, projects, calendar, operations and other aspects of our business
4. Realised with regulators and bankers to ensure that we are in the safe position to take finance from the third-party financial firm to facilitate the acquisition of our new busses.
5. Managed the finance application process and all communications and discussions
6. On going accounting advisory services.

Describe their billing or cost structure.

Their billing is quite competitive as they charge based on the project size. They charged us 2% of the project prior to the project success and another 1% upon project success. This fee is payable in instalments that the client suggests. however, 1% is paid to them as a mobilization fee.

How many resources from the firm's team worked with you, and what were their positions?

We worked with a team of 3 experts from LUCENT Consulting. The team included, Managing Director, Accounting Manager and Debt Structuring Associate.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

The project resulted into seven businesses being acquired from the third-party firm which was our primary goal of engaging LUCENT Consulting.

Describe their project management style, including communication tools and timeliness.

They have a project management system that tracks and reports all activities and progress of the project. They are always ahead of time and interaction is realtime. This was actually our first experence of its own.

What did you find most impressive or unique about this company?

Everything is unique with LUCENT Consulting. The fact that they assume full responsibility of the client challenges and strive to leave the client happy and content is the best feeling to have experienced from consultants in Tanzania. This is our top quality consultant and we are looking forward to retaining them for future projects.

Are there any areas for improvement or something they could have done differently?

We have not yet come up with any improvement suggestions but we would urge LUCENT Consulting to extend their presence to other countries in Africa and may be develop business affiliations with European consulting firms in order to reach more businesses who technically need LUCENT's services.