{
  "docId": "019dd923-622c-750b-8b9b-d9b3dd5a51e8",
  "docSlug": "1c9c0f306991",
  "documentTitle": "Automatic Data Processing (ADP) (ADP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-08-17 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 82,
  "pageCount": 168,
  "prevPage": 81,
  "nextPage": 83,
  "slideType": "problem_statement",
  "function": "diagnose_problem",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "The slide uses a list-based diagnostic approach to link operational issues to financial line items.",
  "elementsJson": [
    "headline_text",
    "bullet_list"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-d9b3dd5a51e8/82",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-d9b3dd5a51e8",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-d9b3dd5a51e8.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-d9b3dd5a51e8#slide-82",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "ADP’s underperformance in Employer Services is driven by numerous inefficiencies across ADP’s organization:",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee38-728b-98d7-716b1ad8cefc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.42,
        "w": 0.77,
        "x": 0.19,
        "y": 0.28
      },
      "kind": "list",
      "text": "A. Service organization is overstaffed and poorly structured\nB. Implementation teams are siloed and lack automation tools\nC. Back-end infrastructure is outdated and complex\nD. Sales force productivity is declining\nE. Too much spending on legacy systems\nF. Corporate structure is bloated, bureaucratic, and complex",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4540217e-c251-4321-90e4-7978bece514e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.72
      },
      "kind": "list",
      "text": "The time is now for ADP to make significant improvements",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "94cb652f-f202-4921-988e-4448d6d8a4ae",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.85,
        "x": 0.11,
        "y": 0.79
      },
      "kind": "list",
      "text": "G. Platform migrations should allow for significant margin uplift, if followed by necessary back-end and organizational improvements",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b1f52d6f-50fd-4164-acb4-eb0045fdc364",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.18
      },
      "kind": "list",
      "text": "ADP's underperformance in Employer Services is driven by numerous inefficiencies across ADP's organization:",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b5232d5e-f4ec-432b-9688-9481f0a70fc3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.05
      },
      "kind": "title",
      "text": "ADP's Underperformance in Employer Services is Broad-Based, But Fixable",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c307345e-ed73-474a-9e62-80655bc06986",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "diagnostic-test",
      "slug": null,
      "matchId": "18411f27-3d8c-4b04-a4d0-9b45b81454d3",
      "evidence": "The slide identifies specific organizational pain points and maps them to financial cost categories (COGS, SG&A, R&D).",
      "confidence": 0.85
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}