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CLIENT CASE STUDY


Sakthi Finance Limited

A vision for growth

Overview

Sakthi Finance Limited is a non-banking finance company with operations in the four states of South India. It offers refinance to vehicle operators for commercial vehicles and construction equipment. Its widespread customer base of primarily small and medium fleet vehicle operators is serviced through a network of approximately 150 customer service points and 50 branch offices.

Sakthi sought to become a full-service provider that could offer products and value added services to help its customers succeed. To achieve this goal, it recognized that it would need to rapidly increase its sales force productivity in its current market segments while seeking profitable new product and market segments.

By collaborating with Accenture Strategy, Sakthi has created a firm foundation from which to achieve its vision for growth. Furthermore, its new customer strategy is supported by the development of its people, processes and technology.

“The new go-to-market approach will help us differentiate ourselves in the industry and serve our customers profitably. We now have a clear growth road map that is understood by the whole organization to help achieve our vision 2025.”

Balasubramaniam Mahalingam
Managing Director, Sakthi Finance Limited

Opportunity

Sakthi’s vision is to grow into a full-service provider, offering products and value added services to its customers to help them become more profitable in their own business endeavors. The company wants to achieve an almost ten-fold increase in its asset base, to reach Rs. 5000 crores (US $757 million) by 2025, with a corresponding improvement in profitability.

Sakthi recognized that to achieve its growth and profitability ambitions, it would need to rapidly increase its sales force productivity in its current market segments while also seeking profitable new product and market segments for growth. To this end, it collaborated with Accenture Strategy on a micro-market-led sales growth program to develop an appropriate customer strategy and embed it in the company’s operations.

 

Outcomes

Accenture collaborated with a cross-functional Sakthi team to help develop its sales strategy and operationalize it across the company’s sales organization and head office functions. Once business value and performance improvement opportunities were identified, the focus turned to developing those opportunities to deliver a differentiated customer experience. Activities included:

  1. Analyzing customer data to identify and profile profitable customer segments and detailing customer requirements. Developing a strategy to help enhance sales productivity in these segments and training the front-line sales force to identify and engage with them through the use of practical job aids.

  2. Identifying untapped profitable vehicle category segments in the pilot geographies.

  3. Redesigning the core strategy of customer acquisition and retention to enable a superior customer experience.

  4. Redesigning the field force market visit planning and market operations process including:

    • Optimizing customer interactions to enable marketing officers to focus on high probability and profitability deals.

    • Job aids such as journey plans, daily market reports, daily branch review templates, and weekly branch review meeting checklists.

    • Development of weekly branch management information systems.

Benefits achieved include:

  • A strengthened sales pipeline, with the addition of 26,000 qualified customers and a three-fold improvement in daily customer contact points across branches.

  • Over 25 percent improvement in completion of loan application documents across branches.

  • Year-on-year increase in incoming business of 60 percent.

  • Reduction in turnaround time for loan proposals by 60 percent.

  • Improvement in sales productivity of 70 percent.

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