Vik Bansal has transformed the waste management sector in Australia through Cleanaway. Vik Bansal was instrumental in transforming Cleanaway into a global leader in waste management thanks to his several year’s experiences in different sectors.
Vik Bansal has since led the company through a complete turnaround, precision executing on all of his strategic plans. He changed the business model, adding recycling and organics processing to diversify revenue streams and reduce exposure to landfill levies that had been crippling the company, leading to some financial struggles for some time. Vik also overhauled the sales strategy by hiring more experienced staff members while simplifying complex contracts to speed up decision-making processes while reducing costs associated with analysis paralysis caused by having too many options available.
Vik doubled down on innovation, investing in digital solutions, and embracing disruptive technologies. He was also willing to completely transform Cleanaway’s culture from within, typically a slow process requiring years of trust-building. He is responsible for these significant changes at Cleanaway in the space of just six years that have transformed this formerly struggling company into a dominant force in the industry today. Vik Bansal’s tenure at Cleanaway represents the biggest transformation in the company’s history and sets Vik up to lead another industry-encompassing transition for his next venture.
Vik says that when he first took on Cleanaway, he could see the problems with the business but didn’t understand what was causing them. He never assumed or ignored anything and his bottom-up approach really worked. He looked at everything, every process, and every procedure. We restructured all of our contracts, and we also put in new ideas while removing some of the old ones which Vik believed didn’t align with the mission or strategies. He says he always wondered why companies had so many meetings and decided to do away with superfluous processes.