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Customer Pricing And Customer Migration Optimisation

CLIENT:
Major Bank

SECTORS:
Financial Services

LINES OF BUSINESS:
Performance Analytics

CLIENT FOOTPRINT:
South Africa

THE CLIENT CHALLENGE:

The client wished to improve its competitive position through reducing revenue leakage and strategic pricing. Going into the assignment the management team believed there were no opportunities, but given the deteriorating economic conditions felt obliged to try and identify the few potential revenue leakage opportunities.

HOW WE ASSISTED:

We conducted a comprehensive and line item analysis of all billing aspects and made recommendations to improve price competitiveness, eliminate revenue leakage and take select pricing actions for product lines which were loss making. Upon approval of the recommendations we built detailed competitor monitoring tools to detect changes in competitor behavior and recommend further optimisation actions

RESULTS DELIVERED:

The profitability of the unit was significantly increased, whilst customers were happy with migrating to more cost effective and better product substitutes. The ongoing competitor analytics provided important feedback and allowed the management team to actively manage their price position in the market.