Challenged with identifying new ideas, PROFIT INSIGHT still uncovered earnings improvement solutions ranging from £40 - £68 million for this valued customer.
The Business Challenge
Client needed to identify opportunities to reduce operational costs and leakage, streamline card operations, improve process efficiency and increase bottom line earnings.
Profit Insight had worked with the client previously on three prior engagements generating significant revenue and savings. Client challenged Profit Insight to capture and implement new ideas not previously identified in prior engagements.
How Profit Insight Helped
Profit Insight conducted a 12-month review of detailed authorizations and transactions leveraging the PI3 analytics platform to quickly evaluate the data and formulate recommendations.
Profit Insight worked with the client to define a series of account profit and loss models leveraging the analytics platform and its capabilities.
Even though Profit Insight conducted 3 prior earnings enhancement engagements, Profit Insight identified and recommended ideas ranging in value from £40.2m and £68.3m with several presented ideas currently in planning stages for implementation.
- Instalment plan concepts were presented as an alternative to spread the cost of a large purchases, thereby increasing spend and average transaction value.
- Several new ideas were presented to the client for the UK market by leveraging global best practices in other international markets.
- Provided the client with analytic modeling of a significant number of unprofitable accounts for the client to immediately correct.