🚀How to Really Understand Your Business: A Journey of Innovation and Insight🚀
🚀How to Really Understand Your Business: A Journey of Innovation and Insight🚀
In 2004, following the acquisition of Abbey Business Finance, ING Lease (UK) Limited emerged as the top intermediary-led Asset Finance provider in the UK. This transformation involved significant organisational, systems and location changes to harness synergies and pave the way for growth.
But one crucial question lingered: Which areas of our business are truly profitable?🤔
In 2005 GREDDF's Mark Campbell-Blake was tasked with implementing profitability reporting for the ST division. With a portfolio of £1.3b and volume of £800m (45k deals), this was no small feat. The challenge was not just about applying allocation methods for costs but also capturing detailed information from operational and financial systems for over 150k live deals on any given day. 📊
Remember, this was when Excel could only handle 65k rows! 😲 The project required:
▶ ETL of terabytes of data📥
▶ Advanced data storage and retrieval systems💾
▶ Data cleansing and rationalisation🧹
▶ Allocation methods for all P&L lines to agreement level📈
▶ Formalisation of KPIs and measures📏
▶ Processes and controls within the Finance and IT💪
After a year of hard work, the project, now known as Managing for Value (MfV), was successfully implemented and accepted by the board. A new Governance committee was created, with initial analyses revealing the good, the bad, and the ugly of the portfolio. This enabled fact-based decisions to overhaul underwriting policies and create “toxic portfolios” to avoid unprofitable business areas.💡
However, as data volumes grew, so did the challenge of analysis. In 2009, Mark spearheaded the implementation QlikView for MfV, transforming the process and enabling real-time data presentation and analysis. Decisions that once took weeks were now made in two-hour meetings!⏱️
The results between 2007 and 2011?
▶ Volumes increased by 10% with margin increasing +1.15%📈
▶ The portfolio grew by 24% with fewer bad debts 💼
▶ ROP increased by 0.74% to 2.31% (+212%) 💰
Most importantly, by making fact-based decisions ING Lease weathered the 2007-08 Global Financial Crisis, emerging stronger than ever. 💪
Mark’s work was hailed as “Weapons Grade” by a CEO of the leading consultancy firm in the FS industry, Challenge Consulting. 🏆
This is a true insight into the unique skill set that GREDDF have to offer! 🌟
G R E D D F Has the Solution
We Are Not Just Consultants 🌍 We Are Part Of Your Future
Ready to transform your business’s potential? Contact us today to arrange a 🆓 FREE 🆓 discovery call!
🌐 www.greddf.co.uk
📞 +44 7 44 44 89 2 89
📧 info@greddf.co.uk
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