Art of Consulting Podcast

By: Andy Fry and Cat Lam
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  • Summary

  • You'll learn our top strategies to improve your career, confidence, lifestyle from us and other crazy successful seasoned consultants in IT and Management. Engage in the conversation as we discuss everything that brought us longevity and success over the years in the consulting industry.
    © 2017 – Art of Consulting Podcast
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Episodes
  • 244 | Wired Wisdom: Unraveling the Mysteries of Procurement Fraud with Stephanie Forbes Part 1

    244 | Wired Wisdom: Unraveling the Mysteries of Procurement Fraud with Stephanie Forbes Part 1
    Sep 27 2024

    Welcome to a new episode of the Art of Consulting podcast, where we engage in deep discussions with some of the most knowledgeable and insightful professionals in the business world. Today, we are privileged to welcome Ms. Stephanie Forbes back to the show. Recognized as a national expert in value chain management, Stephanie brings over two decades of experience managing multi-billion dollar projects throughout Canada and the United States. Currently serving as interim vice chair of Supply Chain Canada, Alberta Institute, Stephanie is frequently sought after for her expertise and is known for her impact on the industry through her roles in leading panels, webinars, and podcasts, and as an international speaker. In this episode, Stephanie enlightens us on the complex and pressing issue of procurement fraud in the supply chain space. She shares her wealth of knowledge on the types of fraud organizations might encounter, the effects of such illegal acts, and the crucial steps necessary to prevent them. Prepare for an in-depth look at the importance of governance models, complex problem-solving, and the nuances of fraud prevention within the supply chain.

    00:13 Introduction:
    We introduce Ms. Stephanie Forbes, a value chain expert with extensive experience in leading significant projects across North America. Her involvement with Supply Chain Canada and her reputation as an international speaker set the tone for our discussion on procurement fraud.

    00:56 Stephanie's Vast Experience:
    Stephanie's rich background includes the creation of the Supply Chain Excellence Forum and her work with some of the largest organizations in North America. Her passion for complex problem-solving has made her an authoritative voice in the industry.

    01:40 The Issue of Fraud in Supply Chains:
    We dive into the significant problem of fraud within supply chains, particularly its relation to ERP systems, and Stephanie's encounters with companies that fraudulent activities have victimized.

    02:48 What Is Procurement Fraud?:
    Stephanie offers a precise definition of procurement fraud and discusses its impact on organizations, providing a foundation for further exploration of the subject.

    03:29 Types of Procurement Fraud:
    Detailed explanation of various forms of procurement fraud, including employee collusion, bribery, conflicts of interest, bid rigging, and product substitution, shedding light on their intricacies and consequences.

    05:29 The Case of Data Manipulation and Fraud:
    Stephanie shares a real-life example of data manipulation that led to a $9 million financial loss, emphasizing the need for stringent data management and control measures to prevent such fraud.

    14:54 The Role of ERP Systems:
    The conversation turns to how Enterprise Resource Planning (ERP) systems can play a crucial role in maintaining compliance data and acting as a deterrent against fraud.

    22:43 Lessons Learned from Fraud Cases:
    Stephanie emphasizes the importance of being open about instances of fraud, sharing lessons learned, and implementing continuous education and robust auditing processes to mitigate future risks.

    31:58 Importance of Training in Fraud Prevention:
    The discussion highlights the significance of training staff, sharing information on fraud occurrences, and encouraging a culture of continuous learning to prevent fraudulent activities.

    Episode Highlights:

    00:13 - Introducing the expertise and contributions of Stephanie Forbes in the supply chain management sector.
    05:29 - Insights into the complex world of procurement fraud and the real consequences for organizations.
    14:54 - Discussing the preventative measures and governance that can be put in place to combat fraud within companies.
    31:58 - The importance of employee education and transparent communication in preventing and addressing fraud.

    About Our Guest:
    Stephanie Forbes is a seasoned executive adept in business, risk management, and supply chain disciplines. She has driven transformation within teams, projects, and programs in the energy and construction sectors, leaving a lasting impact. Stephanie is dedicated to advancing the supply chain profession, creating value through her speaking engagements, mentorship, and network. Her achievements include implementing best-in-class programs like full life cycle governance and supplier life cycle management. With an eye toward future opportunities, Stephanie is driven to contribute significantly to her industry and the field of supply chain management.

    Where to Find Our Guest Online:
    LinkedIn - Stephanie Forbes: http://linkedin.com/in/calgaryforbes
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    34 mins
  • 243 | Navigating Success: Pat Kaiser's Trailblazing Journey in Tech Part 2

    243 | Navigating Success: Pat Kaiser's Trailblazing Journey in Tech Part 2
    Sep 20 2024
    Welcome to another enlightening episode of the Art of Consulting podcast, where we delve into the personal and professional journeys of some of the most inspiring leaders in the industry. In today’s special installment, we are thrilled to welcome Ms. Pat Kaiser, a dynamic leader whose extensive background spans operations, marketing, sales, IT, HR, risk management, and mergers and acquisitions. Join us as we explore Pat’s journey, from her impactful career in consulting to her significant contributions to organizations like Agilus Work Solutions. Along the way, Pat shares invaluable insights on preparing a business for sale, the role of intellectual property in consulting, and navigating the challenges of being an independent contractor versus an employee. 00:13 - Introduction: Speaker 1 welcomes the listeners and introduces the guest, Pat Kaiser, who has been a role model and mentor throughout their career in consulting. 00:15 - 00:41 - Introduction Continued: Speaker 2 elaborates on Pat Kaiser’s impressive career in IT and consulting, highlighting her leadership roles in multinational organizations and her experience guiding companies through mergers and acquisitions. 00:41 - 01:38 - Preparing a Business for Sale: Pat discusses the process of preparing a business for sale, which involves ensuring documentation accuracy, maintaining clean financials, and setting up a data room. She explains the importance of keeping the staff unaware of the sale preparation to maintain business stability. 01:38 - 02:20 - Confidentiality and Preparation: Pat elaborates on the necessity of discretion while prepping the business for sale and creating a teaser document for potential buyers. She also talks about the development of a confidential information memorandum (CIM) that provides detailed business insights to interested parties. 02:20 - 02:58 - Engaging Interested Parties: Pat explains the role of letters of intent in the sale process and how they serve as binding agreements indicating serious interest from potential buyers. She highlights the competitive nature of these engagements, particularly when competitors are involved. 02:58 - 03:35 - Valuation of Consulting Firms: Pat discusses the importance of intellectual property, management team stability, and staff skills in the valuation of consulting firms. She emphasizes that the primary assets being acquired are the people and the goodwill with clients. 03:35 - 04:48 - Value of Intellectual Property: Pat underscores the value of intellectual property in a consulting firm, including software and documented best practices that can enhance business operations and client implementations. 04:48 - 05:33 - Importance of Client Lists: Pat emphasizes that client lists are often the most critical asset in a consulting firm’s valuation, followed by the skills and experience of the staff and intellectual property. 05:33 - 07:46 - Detractors from Business Value: Pat identifies factors that detract from a business’s value, such as restrictive client contracts, debt, poor reputation, and inexperienced staff. She explains the importance of managing these elements to maintain business value. 07:46 - 09:40 - Independent Contractor vs. Employee: Pat compares the pros and cons of being an independent contractor versus an employee. She discusses financial rewards, job stability, and opportunities for professional growth in both roles. 09:40 - 13:34 - Discipline in Consulting: Pat highlights the need for discipline as a consultant, from understanding client environments to managing time and continuous learning. She shares tips on how consultants can stay relevant and valuable in the industry. 13:34 - 14:36 - Continuous Learning: The discussion emphasizes the importance of continuous learning and investing in personal development to enhance one’s skills and certifications, ensuring long-term success in consulting. 14:36 - 24:47 - Closing Insights: Pat reflects on the significance of having intentional plans and being proactive in career development, both as an employee and a consultant. She shares personal anecdotes and advice on navigating the consulting industry successfully. Episode Highlights 00:13 - 00:15 - Introduction: Speaker 1 welcomes listeners and introduces the episode. 00:15 - 00:41 - Today's Guest: Speaker 2 introduces Pat Kaiser, highlighting her career in consulting and IT. 00:41 - 00:47 - Opening Question: Speaker 1 asks about preparing a business for sale. 00:48 - 01:38 - Preparing a Business for Sale: Pat explains key steps, focusing on documentation, financials, and confidentiality. 01:38 - 02:20 - Confidential Preparation: Pat discusses keeping sale plans discreet and creating teaser documents and CIMs. 02:20 - 02:58 - Engaging Buyers: Pat covers engaging buyers through letters of intent and binding agreements. 02:58 - 03:35 - Business Valuation: Key assets in a firm’s valuation, including intellectual property and client goodwill. 03:35 - 04:48 - ...
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    25 mins
  • 242 | Navigating Success: Pat Kaiser's Trailblazing Journey in Tech Part 1

    242 | Navigating Success: Pat Kaiser's Trailblazing Journey in Tech Part 1
    Sep 13 2024
    Welcome to another enlightening episode of the Art of Consulting podcast, where we take deep dives into the personal and professional journeys of some of the most inspiring leaders in the industry. In today's special installment, we are thrilled to welcome none other than Ms. Pat Kaiser. Pat is a beacon of dynamic leadership, known for her hands-on approach and her uncanny ability to foster high-performing teams. Her extensive background covers a gamut of functions including operations, marketing, sales, IT, HR, risk management, and mergers and acquisitions, making her insights invaluable. Join us as we explore Pat's storied career, her role in shaping successful organizations like Agilus Work Solutions, and her profound impact on the community through her board positions with the Calgary Homeless Foundation and the Alberta Electric System Operator. Get ready for a session rich in wisdom, lessons learned, and strategies that drive both personal and organizational success. 00:13 Introduction: Welcome to the Art of Consulting podcast! In today's episode, we introduce Ms. Pat Kaiser, an inspiring leader and mentor to many. Pat's diverse background encompasses operations, marketing, sales, IT, HR, risk management, and M&A activities. She sets the stage for a deep dive into her remarkable career journey. 00:55 Pat Kaiser's Role at Agilus: Pat Kaiser served as the president of the Office Professionals and Light Industrial team at Agilus Work Solutions. Her commitment to building diverse, flexible, and resilient workforces is a testament to her leadership and passion for fostering collaborative environments that drive results. 01:52 Pat's Community Involvement: Beyond her corporate role, Pat is actively involved in the community, contributing her expertise as the board chair of the Calgary Homeless Foundation and a board member of the Alberta Electric System Operator (AESO). 02:42 Pat's Career Beginnings: Pat shares the serendipitous start to her career in IT consulting, which began with a neighbor's suggestion and led to her landing a job with Montage, a pivotal moment that would shape her career path. 03:29 Pat's Progression at Montage: Pat quickly moved from salesperson to branch manager at Montage, highlighting her natural leadership and operational skills that catalyzed the branch's success. 05:32 Sales Experience in IT: Pat discusses the parallels between sales and consulting, emphasizing the importance of networking, relationship building, and being a trusted partner to clients. 07:31 Consulting Insights: Drawing on her sales experience, Pat offers valuable advice to consultants on the importance of collaboration, establishing credibility, and the significance of strong work ethics. 08:18 Building Relationships: The discussion delves into the role of authenticity and the incremental process of building trust and forming lasting professional relationships. 10:10 Leadership and Team Building: Pat reflects on her ability to bring people together, the power of collaborative vision, and the joy she finds in creating a work culture that values and uplifts its members. 15:40 Pat's Time at Enable and Sierra Systems: Pat's journey took her from Enable to Sierra Systems, where she led as COO for nearly a decade, stressing the critical role of corporate culture and her efforts to replicate the vibrant environment she cherished at Montage. 19:57 Transition and Sale of Business: Pat outlines the strategic process of preparing and selling Sierra Systems to NTT Data Services, providing insight into the complexities of M&A activities involving multiple international branches. 22:30 Transition to Agilus Work Solutions: After the sale of Sierra Systems, Pat moved to Agilus Work Solutions, where she continued her executive trajectory, showcasing her expertise in corporate development and leadership. Episode Highlights: 00:13 - Introduction of Pat Kaiser's vast experience in various leadership roles. 05:32 - Insights into Pat's approach to building performance-driven teams and creating impactful work cultures. 00:55 - Pat's journey from entering the IT industry to becoming a key player in executive leadership. 05:32 - The importance of sales and consulting synergy in achieving business success. 08:18 - Strategies for effective networking, relationship building, and team collaboration. 19:57 - Pat's role in significant M&A ventures and transitioning organizations. About Our Guest Today: Ms. Pat Kaiser is known for her dynamic leadership and her ability to inspire and cultivate high-performance teams. With a proven track record in multiple business areas, Pat's expertise extends to community involvement, where she serves on various boards, contributing significantly to the organizations she supports. Where to find Our Guest online: LinkedIn - Patricia Kaiser: https://www.linkedin.com/in/patricia-kaiser-b-comm-icd-d-0337b14/?originalSubdomain=ca Agilus Work Solutions: https://www.agilus.ca/
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    24 mins
Career Success Economics
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