001 RSM Update Q2 2025 Interview DB v2

Welcome to the second RSM Update in 2025.

Leo, make it shorter.

Welcome to the RSM Update.

Shorter.

Welcome to the Update.

Short!

Update!

Working capital

New customers

Rapid changes

Quality and pleasure

Cups of coffee

Collaboration across disciplines

4th of July!

Development

Leo, there are a number of topics,

but one topic requires special attention.

You'd like to explain it
in a broader perspective.

Go ahead.

That's right.

It's about the changes we're going through
on a macroeconomic scale.

It won't have escaped anyone's attention.

The world is very turbulent
at the moment.

And this is having an impact on us.

We see this reflected
in a number of things.

What we really need to focus on
to start with is the financial side.

We've indicated several times before

that we're seeing that the number
of bankruptcies is increasing,

growing uncertainty.

In recent years, together we have built
up a very good position for ourselves.

I think we have done a really good job.

But we must be extra vigilant
in the coming period.

We also asked all our main declarants
to be extra careful about this.

So I would like to appeal to everyone

because even those main declarants
can't know everything.

If you get any signals from customers,
do let us know.

That way, we can work together to ensure
that we reach a good solution.

And this mainly involves timely invoicing,

ensuring we don't have very high
work in progress levels,

but also ensuring our invoices
are getting paid on time,

so that we can all meet our obligations.

I think that is very important.

So that's a direct appeal to everyone.

Not for some people but for everyone.

Be alert and take action

Yes, absolutely.

I think that definitely
applies to everyone.

Sometimes people think
they can't influence that,

but they really can,

because you hear things from customers.

You see things.

Share it within your team,

and with your manager,

so that we can benefit from it together.

Q1 has almost been completed.

Do you have any insight into that yet?

We're recording this video
before it will be released.

Do you have an idea of Q1 yet?

Yes, partly.

We do not yet have a full view
of the work in progress provision.

That's another appeal.

We're seeing that
despite all the agreements,

it still takes a very long time before
we receive the status of the provision.

That can and must be improved.

So I don't have a complete picture
of the financial results yet

What we have seen,

and I already shared this in
the organization at an earlier stage,

is that production is lagging behind
what we had budgeted.

We've made some progress
in the first part of the year,

but we're still quite a bit behind
on production.

So, in the context of the Q1 reports,

the reasons behind this
are carefully analysed.

What can be improved?
What needs to be improved?

Where can we help people?

So that's coming.

Does that sound worrisome
or is it about being alert,

in the sense of due diligence?

The latter.

If it were worrisome, I wouldn't be
standing here as relaxed as I am.

It's more about maintaining
what we have built,

which has taken a lot
of time and energy,

and taking care of it together.

So no need to worry.

It's about making sure
we stay on top of things

A clear internal message.

The market.

Let's talk about that.

Well Wim, it's similar to what we said
earlier when talking about macroeconomics.

The market, our market,
has changed rapidly.

We all know a lot happened
over the past 2.5 to 3 years,

both globally but definitely
also in the Netherlands.

And those developments are very fast.

And to be honest, to a certain extent,

they're going faster
than we had anticipated.

So Laura and I have had to keep on
drinking those famous cups of coffee,

to see what it means for our organisation,

to see whether our strategy
is still the best one,

or should be recalibrated.

This is an ongoing process.

We're living in a world that has been very
conservative and stabile for a long time,

but is now very susceptible to change.

You're also drinking cups of coffee,

so it's not just Laura then?

No, we're drinking
lots of coffee together.

Can you give us a little bit
more insight into that?

I know that when things become
more concrete you'll let us know.

Upon your initiative,
upon the initiative of both of you,

upon the initiative of others?

Can you tell us anything about that?

Naturally, when things become concrete,
we will let the organisation know.

The principles we formulated
earlier still largely apply.

But we're receiving more and more calls.

The fact is that we're being approached
from different sides.

to have open conversations,

because we're seeing
that other organizations

are also very explicitly
looking into this.

In fact, right now,
everyone in the market,

both within our network
but also outside the network,

is very much looking at

how we can best prepare
our company for the future,

to ensure the continuity
of our 700 people.

So it's a dynamic time, no rush,
but carefulness is required.

Is that more or less your message?

Absolutely, that's exactly what it is.

We're in May now.

What are you looking forward to
in the next few months?

The next update is in October.

What are you looking forward to, Leo?

What I'm really looking forward to is
all the upcoming training programs

I will be actively involved
in some myself,

but will also participate in
some programs based on my own role.

So I'm looking forward to
a summer full of learning.

There is a lot on the agenda
for the colleagues.

Yes, there's quite a lot.

We get that. We realise it's a lot.

But at the same time,
that's exactly what we stand for.

Development. Developing people.
Developing our organisation.

And, yes, that will require
some effort on all parts.

Laura, what would you like to put
on the agenda for this RSM Update?

There are so many things to mention

and we only have a short time here.

So an important question is –

What should we spend our time on
in the coming period?

Most people will say, well, my job,
because I'm very busy,

and I have a lot of customers.

And in some cases that's definitely true.

But at the same time, we should
spend as much time as possible

on the right customer.

This is a recurring topic.

Customers who give us good results.

It works better. People are happier when
we're working with this type of customer.

In terms of quality,
it's an important factor.

But we're also saying that there is space
to find good quality customers

who we can work on with great pleasure.

That's an important message –
there is space.

It's a very important message.

We discussed it with the partner group,
and everyone agrees.

It will take some getting used to

after a period with
an entirely different focus.

How can we get all that work?

And does this mean
we don't have enough work?

Well, Wim, when walking
through the offices,

you can see that
that is certainly not the case.

But refreshing our customer base
and moving to better quality,

is a very important point.

And another fact, and something that
won't have escaped anyone's attention,

is that there has been a change
in the regulations around ESG.

In any case,
we've been given an extension,

which frees up some time that we can spend
on high-quality work for good customers.

So we want to make use of that time.

And we want to start preparing ourselves,

even though we don't know what's
going to happen in these uncertain times,

but let's make sure we have
a very solid customer base.

So that's what we're going
to focus on together.

That's great, and I think it will
give us more and renewed energy.

So that's an important
message for everyone.

Because besides hard work,
it's also about fun work

and a new customer,

a good new customer
who meets the conditions,

Because we're making a shift
in terms of customer type.

Absolutely.

Are we also working smarter?

Do you see any examples of that,
PSG for example?

Yes, there are some clear examples.

This was also mentioned
in our annual plans.

We need to work smarter.

We need to do more with tooling.

Not everything needs
to be done by a professional.

Sometimes that's in our head,
but it's not necessary.

And we do see examples of that.

We do use certain tooling,

and we're working on tooling.

And we're looking specifically at

how we can train other
people in the organization,

not necessarily the professionals,

to help and support professionals.

And this can be in all kinds of areas,

so that the professionals can really
focus on providing added value.

That's what customers
want to pay us for.

And it's going really well.

We really need to keep focusing on that.

A great message.

After al, what could be better than
acquiring a new, attractive client

who multiple disciplines can work on

and who fits perfectly into
the portfolio that RSM is aiming for.

That's the message.

Thanks, Wim. Definitely., thanks.

And you're making a nice transition there,

because I think we've been asking people

to work in a more multidisciplinary
way for two years now.

Let's make sure we're working
well together on customers

across several disciplines

Those are really
the best customers for us.

And that will stay that way.

And it's very important to collaborate
across the disciplines,

to inform each other well
and to engage each other.

I know that's hard sometimes

I also know that sometimes
it's not possible at all,

working multidisciplinary,

but we really want to continue
to strive for that.

So I would then say –

what's better than working
with a team on a new client

across the service lines?

And yes, the first few meters on such
a new client will be quite difficult.

But if we can onboard
such a customer well,

it also provides a degree of certainty

towards a future that is uncertain
due to economic developments.

So I think that would be
a very nice basis.

A great message.

Looking ahead.

Let's look ahead for a moment.

What are you really looking forward to
in the coming period?

Me personally?

Yes.

I really enjoy seeing all the colleagues.

And there will be another
chance to see everyone,

because on July 4th,
we will have the Summer Party

and I am really looking forward to that.

The venue will be announced shortly.

Exciting.

Not by you.

No, we'll keep it a secret a bit longer,

but I'm really looking forward to it.

And I hope, like in previous years,
it will be a great and wonderful party.

And that many of our colleagues
will be there.

Can't miss it, shouldn't miss it
and don't want to miss it.

Summer Party.

That's right.

The 4th of July.

Update!