Small is (even more) beautiful in the wake of scandals

“We are far more values-driven and culturally aligned with clients, avoiding the ‘robot-like’ stereotype of traditional consultants,” he adds. “We move faster, with leaner, more expert teams, and our work is typically more detailed and actionable. We hate the glossy slide deck.”

Exent has none of the conflicts of interest that have dogged some of the larger consultancies, Fazzari says.

“It’s not uncommon to hear of firms running a tech selection process, where the answer was, for instance, SAP, only to learn that, lo and behold, the SAP partner was running that process,” he says. “We sit completely on the client side.

“No solution selling, no bias, no conflicts. We really own the role of trusted, independent advisers helping to navigate complex, large-capital technology decisions.”

Part of Exent’s formula is bringing together wide-ranging capabilities in uncommon ways, to deliver better business outcomes. In particular, the firm aims to avoid the pitfalls of large technology shops which overlook the broader business and people issues.

The approach has seen the company grow at speed. Rating highly in The Australian Financial Review’s Fast Lists report, Exent has continued to build on its strengths of innovation and thought leadership.

Peter Deans, the founder of Notwithoutrisk Consulting, which offers a range of strategy and risk advisory services to companies, says that in the financial services sector, “firms large and small are struggling with the urgent need to digitise their processes”.

“It can be a challenge for many to develop and implement programs that can achieve the multiple goals of becoming more efficient, capturing growth opportunities and meeting client and regulator expectations,” Deans says.

“The pace of change and rapid advances in technology means it is almost impossible for firms to completely manage and execute these transformation programs in house.”

Deans identifies a real need for firms to carefully think about the design of their processes – both technology and non-technology-based – to ensure that they meet community and regulatory expectations around trust and security.

“Cybersecurity and information security events and issues are inevitably the result of control failures or poorly designed and executed initiatives to adopt new technologies.”

“We are far more values-driven and culturally aligned with clients, avoiding the ‘robot-like’ stereotype of traditional consultants. We move faster, with leaner, more expert teams, and our work is typically more detailed and actionable.”

— Joe Fazzari, Exent managing partner

Some of the innovations that are setting Exent apart from its bigger competitors include new approaches to digital robotics and workflow automation: agile, low-capital strategies that clients can own and manage themselves to significantly streamline business.

The firm has reimagined the approach to selecting and implementing core systems such as enterprise resource planning, customer relationship management, human resources and finance, among others. This approach often reduces selection times from months down to weeks, improves decision quality, and reduces the risks around project failures and budget blowouts.

The focus on blending disciplines has helped integrate tech expertise with a broad-ranging understanding of business and process.

“What makes the tech transformative is a radical focus on operating performance,” says Fazzari. “We have master black belts in lean enterprise – the method that came from Toyota’s production system – BPM [business process management], and Six Sigma from Motorola, combined with the ability to redesign the operating model and create a real change in people.

“We’re passionate about the formula. One-dimensional tech advisory is dead.”

Comprehensive risk management is essential, he adds. “We believe that execution is everything,” Fazzari says. “It doesn’t matter that you have a risk posture. What matters is what’s actually happening on the front line.”

Following the upheaval of the royal commission into misconduct in the banking and financial services industry, the banking sector has instituted reforms on various levels. Responding to risk control failures and cyber breaches, APRA’s new CPS230 prudential standard around operational risk commences in July 2025. Fazzari believes most financial institutions are struggling to get their house in order.

“Firms large and small are struggling with the urgent need to digitise their processes. It can be a challenge for many to develop and implement programs that can achieve the multiple goals of becoming more efficient, capturing growth opportunities and meeting client and regulator expectations.”

— Peter Deans, of Notwithoutrisk Consulting

“Controlling for risk is tough. Our approach to CPS230 puts business process excellence at the centre of three strategic drivers – risk, customer experience and operating efficiency,” says Fazzari.

“Our framework integrates all three, reducing the need for more heavy infrastructure built just for risk, in such a way that an executive doesn’t need to trade off one against another, which is how we got into many of the control issues we’re seeing today.”

The focus on governance is no less critical in other industry sectors. The aged care royal commission, for example, has driven a raft of regulatory reforms including Standard 8 which is explicit in how organisations must now govern risk and their consumer experience. The sector is facing major challenges in resourcing, financial sustainability, efficiency and increasing competition.

“Aged care is a sector that’s hurting,” says Fazzari. “We see a number of boards looking for new answers here. There’s quite some jeopardy.”

He says Exent’s focus on consulting done differently – with a “more human, less consultant” approach – has helped drive more candid conversations and give deeper performance insights, helping turn around a number of operators in the sector.

To learn more, visit www.exent.co.