At a Glance
- Within the span of a 24-week project, our client increased its number of loans released by 113%, and amount of loans released by 70%
- The client’s market share increased by 125% and portfolios at risk decreased by 63%
- A Marketing Management Control System was developed with readily available tools for performance management
Background
The client is a leader in the microfinance space in Southeast Asia, providing financial resources and know-how to women entrepreneurs to nurture financial independence and entrepreneurship. An initial 35-week project was initiated with Renoir to improve operational effectiveness.
The Challenge
Following the success of the first project with Renoir, the client wanted to continue its momentum of improvement in its operations.
Its other focus was to build up its marketing effectiveness, together with its organizational structure to support expansion, preparing it for market growth and competition. Hence, the engagement with Renoir continued for a second 24-week project with 3 key areas of focus:
- Ensuring the sustainability for the results of the first project with Renoir in sales effectiveness and efficiency.
- The use of strategic data analysis to identify opportunities and to define effective KPIs
- The development of a Management Control System and data analysis workflows for its Marketing division
What We Did
Assembling a Management Action Team & Steering Committee
The project team consisted of 4 Task Force members, and a Management Action Team (MAT) was formed composed of executives in supporting areas in the client’s organization, who would act as change agents. The Steering Committee composed of the client’s President, COO, and Treasurer of BOT reviewed and guided the initiatives and key activities of projects.
A review mechanism was also set up to ensure that the required deliverables were on time and in line with the directions from the Steering Committee. This was followed up on daily by the Task Force who worked directly with Renoir consultants full-time, weekly for MAT, and bimonthly for the Steering Committee.
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Training, KPIs and Active Management for Behavioural Change
To adapt the behavioural audit process from the previous phase of project and further incorporate data analysis, the Renoir team continued to conduct branch audits, providing the coaching and guidance needed for managers. Training for active management together with clearly defined KPIs gave the managers further understanding of how to use and analyse their available data and seek out better solutions for performance improvement.
Other non-operational KPIs were also installed to provide a complete picture of the people, process, and programs of the client. These KPIs were integrated in regular business reviews, which involved weekly coordination meetings, monthly COO meetings, and quarterly business reviews.
A comprehensive series of workshops were also facilitated for managers and employees in areas such as risk management, branding, strength, weaknesses, opportunities and threats (SWOT), to create an environment of continuous process improvement.
A Management Control System for Marketing
Marketing had been a new area for the client, which is what led the team to request the design and development of a management control system for its marketing operations. Aside from understanding the company, it was important to know its competitors, market and the customers.
Therefore, several surveys were conducted to gather the needed information regarding competitors and customers for decision making process including the strategies of areas in which to operate, products that addressed customer needs, and key actions for internal improvements.
“I am grateful for the project with Renoir. 2014 will go down in history as the year of change – change in how we approach our work, a change in our mindset, from “maybe” to “CAN BE” and I feel a great pride to have a team who accepted with humility our weaknesses, opened us up to change and brought about positive results.”
– Executive Director
Key Results
Renoir’s improvement process heavily involved the client’s employees in identifying opportunities, developing and installing solutions with high levels of buy-in and ownership. This successfully brought in the following results:
Number of Loans Released
↑ 113%
Amount of Loans Released
↑ 70%
Market share
↑ 125
Portfolios at risk
↓ 63%
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