Author: Desiree Daccache

INDEVCO Consultancy successfully concluded the 1st edition of the Commodity Supply Chain Conference, held from October 22-24, 2024, in Limassol, Cyprus. This strategic event brought together industry leaders and decision makers providing a global platform to foster international alliances, explore new opportunities, and facilitate collaboration within the evolving commodity supply chain ecosystem.

Leveraging over 20 years of experience and a diversified portfolio of global events and exhibitions across industries and regions, INDEVCO Consultancy’s approach to organizing this event was rooted in a strategic framework designed to address key industry challenges and trends. The conference’s focus on innovation, resilience, and sustainability in the global supply chain was directly aligned with the growing demand for solutions that address current market dynamics. From carefully curated sessions to intentional networking opportunities, every aspect of the event was crafted to maximize value for attendees. Participants departed with fresh insights, broader perspectives, and valuable new partnerships.

Strategic Framework & Execution
INDEVCO Consultancy’s strategic planning and execution were integral to the conference’s success not only providing consulting advice and guiding the day-to-day execution, but also becoming partners in driving transformation and helping organizations achieve their potential.
The conference attracted over 200 participants from 25 industries and more than 20 countries, reflecting the global scope of the challenges and opportunities within the supply chain industry. A diverse array of thought leaders, including over 20 high-level speakers, contributed to the event’s content, ensuring that discussions were grounded in both local and global perspectives. Sessions were designed not only to inform but also to facilitate actionable outcomes, offering participants practical insights that could be implemented within their respective organizations.

Optimizing Networking & Partnerships
Networking and collaboration were central to the conference’s structure. Sponsor tabletops and dedicated networking sessions enabled participants to connect with industry leaders, suppliers, and innovators, facilitating business development opportunities and strategic partnerships. The event’s deliberate design ensured that attendees could engage in meaningful conversations with decision-makers from across the commodity supply chain ecosystem.
Both the gala and casual dinners provided further opportunities for informal networking, contributing to a collaborative environment that extended beyond formal sessions.
The conference also addressed key business trends, such as supply chain adaptability and the integration of digital technologies. Discussions focused on solutions for overcoming supply chain disruptions, improving logistics efficiency, and enhancing transparency, all of which are critical for companies aiming to future-proof their operations.

Strategic Location for International Collaboration
Cyprus was strategically chosen as the venue for this conference due to its role as a key business hub linking Europe with the MENA region and the Far East. This location facilitated access to critical markets and positioned the event as a gateway for discussions on cross-border trade and international investment. One of the conference’s most notable outcomes was the signing of a Memorandum of Understanding (MOU) between Invest Cyprus and Invest Paraná, underscoring the conference’s role in building strategic alliances across countries. The MOU aims to foster trade, investment, and regional economic resilience, aligning with INDEVCO Consultancy’s goal of driving sustainable economic growth through strategic collaborations.

Cultural & Global Engagement
The conference also facilitated cross-cultural engagement, with participants from various regions contributing to a global dialogue on supply chain strategies. This diversity enriched discussions, providing a broader understanding of the challenges and solutions being implemented across different regions.

Establishing INDEVCO Consultancy on the Global Conference Map
The success of this inaugural event positions INDEVCO Consultancy as a prominent player on the global conference and exhibition landscape. By executing a high-caliber, internationally recognized event, INDEVCO Consultancy has solidified its reputation as a strategic leader in the conference industry. The Commodity Supply Chain Conference not only reinforced INDEVCO Consultancy’s role in driving industry transformation but also highlighted its capability to orchestrate impactful global forums that address pressing business challenges.
As the consultancy continues to expand its influence in the international conference industry, this event serves as a benchmark for future endeavors, reinforcing its commitment to advancing global business collaboration and innovation.

Outlook for the Future: Shaping the Conference Industry Landscape
Building on the success of the first edition, INDEVCO Consultancy will orchestrate the second edition of the Commodity Supply Chain Conference, reaffirming its commitment to fostering strategic alliances and advancing industry collaboration. As the commodity supply chain landscape continues to evolve, driven by trends like digital transformation and sustainability, INDEVCO Consultancy is well-positioned to lead the organization of impactful events across diverse sectors.

Local Press Quotes
“The Commodity Supply Chain Conference 2024 brings together global industry leaders to discuss strategic approaches to supply chain management in trade and investment, setting a foundation for impactful collaborations.” – SIGMA TV

“As part of the Commodity Supply Chain Conference 2024, Invest Cyprus and Invest Paraná signed a memorandum of cooperation, establishing a promising alliance between the two investment bodies.” – Alpha TV

Companies that seek an officially recognized stamp of quality and excellence are increasingly turning to international standards like ISO certifications. The Business Process Improvement & Excellence team at INDEVCO Consultancy guides them through this process – from the initial preparations through to attaining the actual certification.

ISO certifications are endorsements that warrant a company’s products, processes, and/or services, ensuring that they meet international high-quality standards. Companies that meet the ISO standards demonstrate that they have the right quality management systems in place and safeguard an effective implementation.

With its high standards, achieving ISO certification can be a complex process, as it typically requires introducing more robust ways of working and changes to activities, practices, or processes. In some cases, meeting ISO requirements may also mean new systems need to be put into place.

“Having proper guidance during the process of attaining certification is therefore essential,” asserts Emile Georgi, who leads the Business Process Improvement & Excellence team at INDEVCO Consultancy. This team specializes in helping companies embed operational excellence within their operations and culture, with quality management a key stream they help optimize.

At GESPA, a procurement agency in Lebanon, INDEVCO Consultancy recently supported the leadership team with obtaining ISO 9001, one of the most well-known and most sought-after certifications in the area of quality management.

“This family of certifications is designed to help organizations ensure they meet customer and regulatory requirements and focuses on principles like customer satisfaction, leadership, and process improvement to enhance overall business performance,” explained Georgi.

INDEVCO Consultancy also helped dozens of manufacturing companies with attaining ISO 9001. “ISO certifications are essential in the manufacturing industry because they set clear standards for quality and consistency, ensuring products meet customer expectations. They also help streamline processes, reduce errors, and improve overall efficiency,” said Georgi.

Yet the list of ISO certifications is long, and diverse. ISO’s scope even extends into the world of sustainability, most notably with ISO 14001, which covers policies and procedures to minimize the environmental impact of operations.

Masterpak, a Lebanese polyethylene film manufacturer, for instance recently gained the ISO 14001 certification, demonstrating that its production processes for products used in industries like agriculture, beverages, building, food, and pharma are in line with environmental best practices. INDEVCO Consultancy advised during the full lifecycle of the process.

“The ISO 14001 certification helps organizations minimize their environmental aspects and impacts and ensures compliance with regulations. It encourages sustainable practices, such as reducing waste and pollution, while promoting continuous improvement in environmental performance.”

INDEVCO’s research and development center Polymer Application Center for Technology (PACT) holds the ISO/IEC 17025 accreditation. PACT offers consulting services related with research, development, and testing of plastics and other products.

A further rundown of ISO certification types that INDEVCO Consultancy has helped clients to obtain:

ISO 9001 refers to a certification that ensures the effectiveness of a quality management system in an organization.

ISO 22000 certifies companies for excellence in food safety management. This certification is useful for producers, manufacturers, and retailers with consumers ultimately benefiting from guaranteed food / food packaging safety. Beverage packaging company Prepak achieved this certification thanks to INDEVCO Consultancy.

ISO/IEC 17025 is an accreditation that endorses the quality of laboratory testing and calibration. This helps to facilitate cooperation between laboratories in different countries, for example. Results can be accepted without needing further verification.

ISO 45001 refers to the standard related to occupational health and safety. INDEVCO Consultancy provided advisory services to Lebanese printing inks and derivatives manufacturer Interstate Inks in their pursuit of this prestigious certification. This certification helps organizations reduce workplace risks and create safer working environment and practices. It focuses on preventing accidents, injuries, and illnesses by promoting proactive safety measures and continual improvement.

ISO 14001 is a certification that covers environmental management. This certification helps organizations minimize their environmental aspects and impacts and ensures compliance with regulations. It encourages sustainable practices, such as reducing waste and pollution, while promoting continuous improvement in environmental performance.

“ISO certifications are essential in the manufacturing industry because they set clear standards for quality and consistency, ensuring products meet customer expectations. They also help streamline processes, reduce errors, and improve overall efficiency,” said Georgi.

INDEVCO Consultancy announces its participation in the 44th edition of GITEX Global, the world’s premier business connector taking place from October 14-18, 2024 at the Dubai World Trade Center. By joining this global event, INDEVCO Consultancy is contributing to the collective effort to redefine the digital landscape and shape the future of an AI-driven economy.

Present at booth #H14-9, INDEVCO Consultancy will be showcasing its comprehensive suite of advisory solutions, tailored to meet the evolving needs of businesses in today’s fast-paced market. With a focus on technology, INDEVCO Consultancy’s participation at GITEX Global 2024 underscores its dedication to empowering organizations with the tools and insights necessary to thrive and drive growth.

“We are excited to participate in GITEX Global 2024, which is a hub for innovation and technological advancement. This event provides us with a unique platform to showcase our digital transformation capabilities along, big data expertise, and value-added advisory solutions that empower businesses to make data-driven decisions and optimize their operation”, said Wissam Moubarak, Vice President of INDEVCO Consultancy.

A unique framework offering a fully integrated digital transformation experience

In line with our commitment to delivering comprehensive and transformative business solutions, our approach is founded on three core pillars:

• Tailored Advisory Solutions: We collaborate closely with our clients to craft strategies that promote sustainability, resilience, and long-term growth. Our services include digital strategy and governance, business process engineering and restructuring, change management, and certification readiness and implementation, ensuring that businesses are well-prepared for today’s evolving customers’ needs.
  With a keen focus on technology transformation, our expertise covers key areas such as cybersecurity & risk management, backup & disaster recovery, network design, CCTV infrastructure, digital experience platforms, and integrated communications.
• Innovative Business Applications: Leveraging our years of expertise, we provide comprehensive solutions, aimed at streamlining operations and creating new avenues for success. From ERP and CRM to Data Exchange, BI and IoT, we equip businesses with the systems and tools they need to achieve higher levels of productivity and profitability.
• Data-Driven Insights: We understand that data is one of the most valuable assets in today’s digital age. Our solutions help clients protect and manage their data with robust backup systems, secure sensitive information and ensure compliance with GDPR regulations. With advanced business intelligence tools and real-time dashboards, we empower organizations to track KPIs, make informed decisions, and drive data-backed growth.

As we look ahead to GITEX Global 2024, INDEVCO Consultancy is ready to continue its mission of transforming businesses through innovation and expertise. Our team of advisors is dedicated to delivering solutions that not only address current challenges but also position businesses for future success in an ever-changing technological landscape.

Contact Us to Set Up a Meeting

Don’t miss this chance to meet with INDEVCO Consultancy’s experts and discover how our services can help your business reach new heights.

Email us at: requests@indevcoconsultancy.com
About GITEX GLOBAL 2024

GITEX GLOBAL 2024, marking its 44th edition, stands as the world’s most established and iconic large-scale tech exhibition. For over four decades, it has been the premier gateway for tech creators, investors, and enthusiasts to collaborate. This year, the event scales new heights, spanning across two mega venues – Dubai World Trade Centre & Dubai Harbour. It offers an unprecedented 40+ halls of exhibition space, showcasing tech giants and innovative startups in fields like AI, Cybersecurity, Mobility, Sustainable Tech, and more.

About INDEVCO Consultancy

With over six decades of heritage in diversified manufacturing and industrial consultancy, INDEVCO Consultancy leverages its deep expertise across the manufacturing sector, extensive B2B and B2C experience, and global market exposure. We offer proven, industry-leading best practices and tools to provide comprehensive advisory and execution services across multiple industries. Our mission is to help organizations in both the private and public sectors identify growth opportunities, optimize operations, and achieve sustainable success.

INDEVCO Consultancy is a pillar of the multinational INDEVCO Group serving B2B and B2C sectors. Our expertise covers a broad range of capabilities, including Business Resilience & Transformation, Environmental, Social & Governance, Customer Insights, Digital, Technology & Data, Innovation & Operational Improvement, Marketing & Sales Enablement, Leadership & Change, Cybersecurity, Privacy & Data Security, and Risk Management & Compliance.

By leveraging robust backup solutions and adhering to best practices, businesses can navigate the digital landscape with confidence, knowing that their critical data and operations are well-protected.

The rise of businesses going digital or moving their operations to the cloud has unlocked efficiencies and improved digital innovation, yet at the same time, also upped exposure to cyber risks, one of the most critical being the risk of data loss.

“As companies increasingly rely on digital data for operations, having a reliable backup system is crucial to protect against data loss due to cyberattacks, hardware failures, or human error while also protecting sensitive client information,” says Chadi Khadij, who leads the IT practice at INDEVCO Consultancy.

In today’s digital age, the importance of maintaining robust digital backups for businesses cannot be overstated. Effective backup strategies help ensure business continuity, safeguard critical information, and minimize downtime. These safeguards ultimately help businesses boost operational resilience and long-term success.

“A viable business continuity plan must include storing a data backup and having a disaster recovery process in place, which can be deployed in the event of a major issue,” explains Khadij.

INDEVCO Consultancy is an award-winning management consultancy firm headquartered in Lebanon, a pillar of the multinational INDEVCO Group. The firm’s IT Advisory practice offers a range of digital solutions, including the management of backups end-to-end.

“INDEVCO Consultancy is dedicated to providing businesses with the tools and expertise needed to protect their digital assets and ensure operational resilience,” says Khadij. INDEVCO Consultancy is a certified partner of Acronis, a backup solution that is used by over 750,000 businesses worldwide, helping clients implement and adopt the solution.

Acronis is fully integrated within Office 365, which according to Khadij is vital for businesses to ensure data protection, consumer privacy, and regulatory compliance.

Resilience and compliance
Adhering to data protection regulations is fundamental for businesses across a wide range of sectors. Meeting legal requirements, avoiding costly fines, and maintaining customer trust are essential for supporting overall operational integrity and resilience.

“For example, we recently worked on integrating a backup solution of all cloud materials within a highly complex environment. We supported with the advisory and implementation of Acronis. This helped the company comply with its security policies,” Khadij shares.

Asked how companies should kickstart their journey, Khadij outlines a number of steps. “It’s crucial to first define your strategy. Determine what needs to be backed up, how to back it up, and the governance required to ensure its protection.”

Then starts the vendor selection phase: “Assess the IT solutions on the market and make sure there is a clear business case and fit with the organisation. With that clarity on board, the next step is to design new processes and assess the impact on the standing organisation. Inevitably, that will call for various teams to coordinate closely – to fully understand what is at stake and ensure there is an integral approach across the business.”

In a world where data is the lifeblood of business, establishing a comprehensive backup and recovery strategy is not just an option – “it really is a critical necessity for safeguarding the future and ensuring sustained success.”

Facing an ever-growing cyber risk landscape, INDEVCO Consultancy’s cybersecurity line of business is in high demand. Through an integral approach – covering risk, tech and people – the practice helps organizations safeguard digital assets.

Cyber attacks have been around almost as long as computers themselves, with the first attacks traced back to the late 80’s. But the rapid digitisation of the economy – in combination with the relative ease with which attacks can be conducted and the impact they can have – has turned cyber attacks into one of the most feared risks for any company.

According to an estimate by RiskBased Security, there were over 40 billion records exposed in data breaches in 2022 alone. These and other forms of attacks come with a hefty price tag: analysis by Cybersecurity Ventures predicts that the cost of cybercrime globally will reach $10 trillion annually by 2025, up from $3 trillion a decade previous.

As with any risk around, the key to mitigation lies in a proactive approach to prevention, and if risks do (unfortunately) materialise, in effective resolution. This is where INDEVCO Consultancy’s Cybersecurity offerings come in.

Part of the firm’s IT Solutions & Consultancy practice (which helps clients with technology roadmaps and several aspects of digital transformation), the Cybersecurity offering supports organizations with the three main areas for effectively tackling cyber: risk, technology, and people.

The process kicks off with developing insights in the state of the cyber landscape, which feeds into the information security plans, said Chadi Khadij, who leads INDEVCO Consultancy’s Cybersecurity proposition. Part of this process includes separating the wheat from the chaff: “We bring into focus what the critical assets are – these require the highest level of security.”

The firm’s team of experts then work with technology and risk teams to design cyberproof processes. “This includes ensuring that the right security controls are in place, and that there is a continuous system of threat monitoring, risk assessment, and a governance cycle for resolution.”

Ensuring the technology foundation – across applications, networks and the different system layers – is robust and secure is another key element of successful mitigation. “Across the cyber landscape, we see a range of incidents emerging rapidly, from general cyber attacks and ransomware, to phishing attacks, data hacks, and intellectual property theft,” said Khadij.

For all types of attacks, the intent is to try to always be one step ahead of e-criminals. “Our cyber experts run social engineering assessments as well as perform penetration tests to identify potential security weaknesses. These weaknesses can then be resolved before a vulnerability is exploited.”

In tandem with Acronis
With the support of technology, the process of threat and attack monitoring can be massively improved. To this end, INDEVCO Consultancy works in tandem with Acronis, one of the world’s leading providers of cyber protection platforms. Currently over 500,000 businesses and over 16,000 service providers use Acronis solutions.
An authorised service provider of Acronis, INDEVCO Consultancy’s team partnered with Acronis to attain all necessary skills and expertise, and is certified to implement the company’s solutions at clients. “Bringing together our deep consulting expertise in cyber, with their extensive cloud platform, means that we can cover all aspects of digitally securing the organization,” said Khadij.

“Our team members are experts in offering different Acronis services from data security and recovery solutions, backup, disaster recovery, and cybersecurity, to endpoint management and control.”
Putting weight to his words, Khadij pointed at one client in the industrial space where INDEVCO Consultancy brought this approach to life within the domain of operational technology. “Our team helped the client implement an operational technology security roadmap, ensuring a secure network, secure data, and continuous system availability without downtime. The setup prevents threats, rebuffs cyber attacks, and protect systems from malwares.”

The people risk
An integral part of INDEVCO Consultancy’s cybersecurity proposition focuses on the people-side of prevention. While much of the focus on cyber breaches typically goes to technicalities, research papers over the years have identified human behavior as more of a risk than external intruders. A 2022 study by IBM for instance found that human error is the main cause of over 9 out of 10 cyber breaches.

“Successfully securing cyber frontiers goes way beyond IT and governance. It’s also about managing human risks,” stated Khadij.

To deliver the needed change in behaviours, INDEVCO Consultancy’s team “makes sure that the security strategy and policies comply with latest standards, cybersecurity awareness trainings are delivered to employees, zero-trust solutions are embedded across the organization, and that human risks are constantly monitored.”

INDEVCO Consultancy’s Learning and Development expert, attended the Arab Internet and Telecommunications Union (ARISPA) Conference on the 30th of May 2023 at the Mövenpick Hotel, Beirut, Lebanon.

In the rapidly evolving landscape of talent development, the emergence of artificial intelligence (AI) has brought forth a multitude of possibilities. During the Arab Internet and Telecommunications Union (ARISPA) Conference 2023, INDEVCO Consultancy’s Learning and Development expert, who also leads the Operational Excellence Academy shed light on the strategies, advancements, and challenges associated with AI in talent development.

At the heart of INDEVCO’s Operational Excellence Academy is the primary objective of supporting individuals and organizations in thriving within the current competitive market. To achieve this, a wide range of leadership and technical training programs and courses are offered. INDEVCO Consultancy’s team of experienced professionals provides recognized certifications and training opportunities that enhance on-the-job skills and foster the development of expertise and business knowledge.

The Operational Excellence Academy adopts a blended learning approach, combining both in-classroom and online training methods. This allows for the delivery of comprehensive and flexible learning experiences that cater to the diverse needs and preferences of participants.

Unleashing the Potential:
During the conference, INDEVCO’s proactive approach was emphasized, bridging skills gap between employees’ abilities and AI demands through skill assessment, continuous learning, internal training, job rotation, and agile workforce planning to foster adaptability and success in the digital era.

Revolutionizing the Learning Experience:
AI revolutionizes talent development and learning with personalized experiences, intelligent content curation, virtual assistants, gamification, VR, AR, data-driven insights, skill gap analysis, upskilling, talent analytics, and continuous learning. These innovations reshape the learning with personalized experiences, simulations, insights, automated assessments, and lifelong learning.

Addressing Challenges and Risks:
AI brings tremendous opportunities; INDEVCO Consultancy’s Learning and Development expert, Wissam Mussaed highlighted concerns like bias, privacy, and learning inequality. Solutions include risk mitigation, human-AI balance, skill adaptation, transparency, and outcome monitoring.

Recommendations for Responsible Utilization:
The conference concluded with key recommendations such as, strengthening Arab digital community’s AI credibility, promoting responsible tech use, ethics, digital literacy, cybersecurity training, and careful AI usage definition for maximum benefits.

“The conference discussed AI’s role in talent development in the digital era, focusing on strategies, advancements, and recommendations for organizations to navigate the evolving talent landscape,” said Wissam Mussaed. “This approach enables a harmonious coexistence of AI and human potential, empowering individuals and organizations to succeed in a rapidly changing world.”

About ARISPA Conference
The third conference of the Arab Internet and Telecommunications Union (ARISPA) took place on the 30th of May at the Mövenpick Hotel, Beirut, Lebanon. It was held under the patronage of caretaker Prime Minister Najib Mikati, represented by Engineer Johnny Karam, the Minister of Telecommunications in the caretaker government. The conference, titled “Securing The Future AI & Cybersecurity In The Digital Age,” was organized in collaboration with the Technical Secretariat of the Arab Council for Communications and Information in the Arab League, Huawei, and the Professional Computer Association (PCA) in Lebanon.

About INDEVCO Consultancy
Carrying a six-decade heritage of diversified manufacturing and industrial consultancy services, we leverage our expertise across the manufacturing industry, our extensive B2B and B2C business experience, our global market exposure, as well as our proven and guaranteed industry best practices and tools to offer a set of comprehensive advisory and execution services spanning across multiple industries, in order to help organizations in the private and public sectors identify growth opportunities.
INDEVCO Consultancy is a pillar of the multinational INDEVCO Group serving B2B and B2C sectors, including agriculture, banking, consumer packaged goods, distribution & whole sale, education, energy, utilities & resources, engineering and construction, government & public services, hospitality & leisure, manufacturing & industrial products, pharmaceuticals, retail, and transportation & logistics.

Contact Us
INDEVCO Consultancy
Zouk Mosbeh Industrial Zone
INDEVCO Building, Zouk, Lebanon

PO Box 11-2354 | Beirut, Lebanon
Phone: +961-9-209 140

LinkedIn: https://www.linkedin.com/company/indevcoconsultancy
Website: https://indevcoconsultancy.com/

The Operational Excellence Academy of INDEVCO Consultancy has hit a milestone, with its ‘Feelings for Professionals’ training delivered over 50 times to leadership classes seeking to sharpen their customer experience mindset and skillset.

Continue reading “INDEVCO Consultancy’s Operational Excellence Academy training hits milestone”

For the sixth year running, Napco National Packaging collaborated with INDEVCO Consultancy, showcasing its company brand and offering at one of the leading events within its industry this year. An immersive, tech-backed approach helped the packaging provider ramp up engagement with its customers.
Continue reading “Napco collaborates with INDEVCO Consultancy to engage customers at exhibition”

INDEVCO Consultancy supports clients achieve business excellence with a range of consultancy services, including sustainability strategy and governance. Consultancy Middle East spoke with sustainability practice leader, Gacia Apikian, to understand how the firm is helping businesses set sustainability and the United Nations Sustainable Development Goals (SDG) as a strategic corporate priority.

 

The consultancy pillar of international manufacturing group INDEVCO, Lebanon-based INDEVCO Consultancy works with enterprises across the Middle East on topics spanning operational excellence, commercial optimization, risk management, and people & culture.

 

But with the UN SDGs driving global, governmental, and business goals globally and across the region, the firm’s clients are more than ever turning to the consultancy firm for help around greening their thinking and operations.

 

“Businesses, brands, and products that are unable to keep up and step up are disappearing and new sustainable alternatives popping up to take the limelight,” explains Apikian. “At INDEVCO, we firmly believe in the role the private sector must play to reduce their negative impacts on the environment – while increasing their positive contributions to the economy, society, and environment.”

 

“The main objective of our Sustainability Strategy & Governance practice is to help clients make purposeful profit, creating business value and sustainable growth in parallel with securing the needs of future generations.”

 

Apikian currently leads the practice, a role she holds alongside her role as Global Communications and Sustainability Manager at INDEVCO. She joined the firm 12 years ago and has over this period seen the group and consulting division come a long way in the field, culminating into an award-winning status.

 

The SDG Milestones Award recognizes businesses that are setting their nations and surroundings on a more sustainable path. In 2019, the competition recognized INDEVCO for its sustainable achievements in Lebanon toward the UN’s Sustainable Development Goal 12 – Responsible Consumption and Production.

 

At the same, Apikian was lauded for her individual role in the recognition, making a shortlist of four finalists for the Young SDG Pioneers Lebanon prize. The nomination noted her efforts in advancing sustainability through the implementation and integration of the Sustainable Development Goals in INDEVCO’s operations.

 

Helping Clients

 

With INDEVCO as its flagship client, INDEVCO Consultancy has been able to emulate its internal achievements with clients externally. “We work for clients across countries and sectors, mainly in the industrial space,” says Apikian.

 

This starts at the very highest level: engraining sustainability within the purpose. “A company without a purpose is like an explorer without a compass, moving forward without direction. We help organizations explore how sustainable growth becomes an integral part of their purpose and strategies.”

 

Next in line in the practice’s toolkit is “developing the business case for sustainability and setting the right governance structures,” she explains. “Adhering to the 17 interconnected SDGs requires an approach that extends beyond just sustainability and operations, this is where our broader expertise on the other topics comes into play.”

 

Further down the line, INDEVCO Consultancy helps its clients with developing action-oriented plans, process improvements, meeting reporting obligations, rolling out sustainability management systems, and grooming a ‘sustainable mindset’ within the organization. “We’re known for our hands-on approach to delivering value; we come in, help strategize, work shoulder to shoulder along the implementation, and then transfer capabilities for a smooth transition.”
“Ultimately, our job is to empower our clients so that we leave them behind in safe hands and they no longer need us.”

 

In the Limelight

 

The firm’s front running role in the scene hasn’t gone unnoticed. This year, INDEVCO was re-elected to the Board of Directors of the UN Global Compact (UNGC) Network Lebanon (represented by Apikian). The local chapter helps companies commit to the UNGC Ten Principles, SDGs, and 1.5 degrees target set in the Paris Agreement.

 

Meanwhile, internally, INDEVCO Consultancy continuously invests in the sustainability capabilities of its team. On top of an internal curriculum, a number of team members have been selected to participate in the UN Global Compact Climate Ambition Accelerator, a six-month program that provides them with the latest information in domains such as carbon footprint accounting, science-based targets, and project management.

 

“This program will allow our participating consultants better support clients in developing strong, actionable, carbon reduction strategies and setting goals aligning with key global frameworks. They will also gain knowledge of specialized expert interventions – all to the benefit of our client base.”
Looking ahead, Apikian is keen to note that the practice’s work is only just at the beginning. “COP27 has yet again made it clear that world and the region still has a long way to go – with no time to lose. Working with our clients, we are a trusted partner for helping them shape and deliver their sustainability journey.”

With the risk landscape evolving fast for businesses, gaining the right insights to remain in control of the situation is essential. INDEVCO Consultancy is a consulting firm looking to do exactly that – we spoke with Wael Daher on how the firm helps its clients navigate the risk landscape.

Wael Daher has been with the Lebanon-based consultancy since 2004 – rising to a senior director position and leader of the company’s Risk Assessment & Internal Audit Advisory service, which serves clients across various sectors.

“Our service helps companies improve performance and secure value generation by mitigating risks, meeting high internal standards, and complying with international regulations. I believe that risk assessment and internal audit advisory are essential to securing business continuity through ethical and world-class business practices.”

But risk is more complicated than ever before. That means there is extra pressure on companies to deal with risk quickly or face dire consequences. 

Daher explained. “External factors – from economic to cultural, environmental and political – are affecting consumer behaviors to a greater degree of variation than ever before. Each sector is impacted differently by this too, making life more complicated and purchasing decisions more multi-faceted.”

“At the same time, data, finance, and ESG matters are no longer being left to businesses to self-regulate – reams of new legislation are making life costly for firms that do not take those issues seriously.”

INDEVCO Consultancy is well-placed to help clients walk that particular tightrope helping clients across the Middle East and North Africa with a range of management and operational services, with risk and internal audit advisory being one of the 10+ service lines within its portfolio.

When it comes to taking on a risky project, Daher noted that the most important thing is to first conduct a thorough assessment. This helps businesses “identify and prioritize existing and potential risks,” while assessing their vulnerability to them – before deducing ways to “reduce and mitigate these risks.”

The initial analysis by INDEVCO Consultancy includes an examination of all kinds of risks, from enterprise risks to financial and compliance risks. But, with its strong heritage in the manufacturing sector, INDEVCO Consultancy is particularly strong in operational risks.

Daher went on, “We conduct operational reviews of workflows, processes and procedures, and create an internal line of authority guidelines and chains of approval.”

When clients are fully aware of the whole picture, INDEVCO Consultancy when required stays on board to help implement improvements. The company’s consultants first translate insights into action plans, before guiding improvement, and coaching managers to continue their work after the firm withdraws. 

“Our job is done, not only when improvements are made, but when we’ve transferred the capabilities necessary to maintain them continuously,” Daher summarised. 

One example of a project where this happened saw INDEVCO Consultancy assess the accounting function at one of the fastest-growing agriculture companies in the region. Then, consultants stayed on and helped to set up an agile modern methodology among the management team, leaving them behind with the capabilities to deliver improvements in the long term.   

 

Internal audit advisory

INDEVCO Consultancy’s risk expertise is also tapped by internal audit departments, as they seek to tighten their internal controls. This sees the company’s consultants analyze the quality and functioning of internal control systems, and the business financials to highlight any possible material misstatements, and how clients comply with policies and procedures, fiscal, and regulatory requirements within the national and international economies.

At that point, the firm once again develops its plan – recommending enhancements to an internal audit plan aimed at boosting effectiveness and efficiency. 

In one example, “a few years ago we conducted an internal audit consultancy engagement at a group of logistics and transport companies,” Daher recalled. “We highlighted deficiencies and recommended closer and tighter controls to secure the integrity of the accounts, enhance the operations workflow, and improve the overall operations, leading to a better standing of the companies under the scope.”

Special situations

The Risk Assessment & Internal Audit Advisory service line also guides special situations. For example, during mergers and acquisitions processes. Valuation work in such instances sees INDEVCO Consultancy’s experts try to unravel how much a target company is worth.

Explaining this work, Daher noted, “We conduct a comprehensive appraisal of the target company to validate the integrity of the presented financials, establish the business assets and liabilities, identify revenues, profit, and margin trends, and evaluate its commercial potential.”

The consultancy has experience with due diligence work – a key step to gaining an understanding of targets before entering into an acquisition. “We deliver the financial due diligence, shedding light on potential risks associated.”

Similarly, INDEVCO Consultancy works in this manner to investigate fraud. The consultants investigate and examine evidence to determine if a fraud occurred, how it happened, who was involved, and the level of embezzlement. By setting policies and procedures, the firm highlights gridlines and validation points, while helping businesses deter corruption, identify breaches, and avoid fraud.

Highlighting an example, Daher said, “Earlier this year, we conducted a forensic investigation at one organization in the Middle East. The purpose of the review was to evaluate the administrative processes that were carried out at one of the departments to identify the root cause of the cash embezzlement reported by one of the officers, detect its size, identify the participants to assess, and recommend proper measures.”