Mantec helped this global financial services player, improve its routines and becoming more operationally focused. The project, aimed for the Nordic markets, lead to an obvious increase in won tenders and the client organisation got more competitive.
The company is a global market leader, operating through partners and selling direct to consumers across many industries, including retail. Increased competition and regulation changes put the business under pressure, resulting in both short-term and long-term requirements. The key challenge for the company was to become more competitive by selling its services more efficiently, differentiating its offering more effectively, and utilising its own sales resources and back office staff more efficiently. The internal challenge was to change staff and management attitudes from being inward and operationally focused, to becoming outward looking and more customer-focused.
An initial Mantec analysis identified key improvements areas, and the subsequent implementation project:
- developed a clear strategy and process for dealing with partners and resellers;
- improved planning and manning to allow flexibility and cross-functional utilisation;
- organised the supply of information, including competitor analysis, for key account managers and sales staff;
- implemented improved sales processes and sales tools for all areas;
- developed organisational, team and management structure, including the key account management structure;
- improved the tendering process to enable focus on achieving higher success rates, customer profitability and retention;
- ensured that marketing and sales efforts were coordinated and planned;
- developed and implemented targets and KPIs;
- carried out targeted sales management training; and
- coached key management individuals, to ensure that ongoing follow-up and performance management is embedded in the culture of the business.
The successful implementation of the project resulted in a dramatic increase in tenders won, from 30% to 54%. Efficiency in retaining these new customers also improved. Staff experienced less frustration and better collaboration, and management time was better utilised. In addition:
- profitability per customer improved; and
- revenue and income increased.