Reinsurance Placement – Increase Capacity

CHALLENGE

Deal with increased balance sheet liability

This global airline company operates an exclusive rewards club for its flyers, who accumulate air miles towards a variety of rewards, such as free travel, seat upgrades and premium gifts.

Issues which arose with the air miles program were an increased balance sheet liability due to unredeemed air miles and difficulty for members finding suitable redemptions for their accumulated miles. The challenges included attracting new customers to the loyalty programme, promoting the airline brand and giving members a unique product offering superior to the airlines competitors.

The airline wanted to ensure an enhanced shopping experience for those customers not only on board the aircraft, but before and after they chose to fly. As the air miles program is aimed at a predominantly well-off segment, any solution would have to meet their exacting requirements.

A further challenge was the time to implement a solution. There was an increased focus on promotions and sponsorship to generate higher brand awareness in the marketplace. To support these major marketing investments, project delivery deadlines were extremely tight.

SOLUTION

An exclusive shopping experience

The decisions was taken to source services from the Broker group and use the expertise of Broker finance to ensure that all financial elements were optimized and managed expertly.

An exclusive shopping experience was designed and rolled out globally for the airline. The solution consisted of a paper-based and online catalogue, which allowed customers to browse and choose from a vast array of products.

Orders could be placed via a call centre or directly via the web-shop
and customers had the option to select various payment methods, from air miles to credit cards or a combination of both. Broker has handled the trade spend and debt management processes for the client’s paper-based and online catalogue since its inception.

RESULTS

A worldwide success

  • Shopping service available in over 60 countries worldwide
  • Global logistics network capable of delivering all products to every country
  • Management and control of monetary transactions
  • Hosting of dedicated Paypage for client

What to do About Rising Rates

CHALLENGE

To bring members worldwide together

Administration of the Fitzgerald Owners Group (the world’s largest factory sponsored motorcycle riding organisation) was fragmented across EMEA, resulting in inefficiencies and inconsistencies in customer relationship management activities with members. The key objectives of the programme were to provide an improved experience for 100,000 members, while making cost savings and improving customer loyalty.

SOLUTION

To to create one centre across EMEA

Broker set up a contact administration centre, staffed by a multilingual team, implemented controlled payment methods such as international web and bank transfers and introduced a tiered membership structure.

Better print management has been achieved for member publications, which often involves sending membership packs containing around 20 items, in six languages, to 68 countries.

Broker continues to work with the Fitzgerald Group and has recently expanded its global footprint by delivering services from the United States, South America and Asia.

RESULTS

A successful transition and operational excellence

  • Saved £360,000 by centralising contact centre activities
  • Cut £150,000 from the annual fulfilment spend
  • Captured 100,000 previously lost calls annually
  • Improved customer satisfaction significantly, from 50% to 80%
  • Raised membership by 50% in 3 years
  • Increased annual revenue per member by 50%

New Study A

CHALLENGE

Deliver a state of the art customer exerience

The core challenge was to provide a globally consistent contract-to-invoice service across four lines of business – Dynamics, Commercial Operations, Enterprise Services and Original Equipment Manufacturers Operations – that
together represent over 90% of Growtech’s global revenues.

Growtech had previously used seven vendors in five locations across four continents. Processes had become fragmented; meaning quality and service were inconsistent. This lack of standardization was adversely impacting operating costs, productivity and customer satisfaction.

SOLUTION

A global managed service model

In a five-year agreement worth £130m ($200m) Growtech, for the first time, entrusted the processing of 90% of the company’s worldwide revenues (more than $3bn in FY2011) to a single global partner.

The scale of this global BPO relationship was unique in managed services, covering six locations worldwide (Dublin, Reno, Fargo, Monterrey, Singapore, Manila), and involving 1,100 employees, 15 languages and more than 4,000 processes.

To manage the complexity and risk, Growtech and Broker established a managed services model, covering the whole ‘contract to invoice’ chain.

RESULTS

A successful transition and operational excellence

  • Completed one of most successful transitions in Growtech’s history
    Scored an ‘A’ in Growtech’s operational excellence measures
  • In excess of 20% cost savings over the term of the contract, totaling $40m
  • A more dynamic, flexible, BPO structure able to adapt to Growtech’s evolving global business

New Study B

CHALLENGE

Deal with outstanding debts

Oak Tree Solutions, is the UK’s number one classified and community website. It brings together “buyers” (consumers looking for something) with “sellers” (businesses and people offering something).

It’s everyone’s local notice board – generating more than 250,000 new listings a week, and attracting 13.7 million visitors and 400 million page views a month. As the business grew, Oak Tree found it was spending increasingly
more time chasing overdue payments.

To improve its cash flow, Oak Tree decided to outsource its credit control function to Broker to benefit from Broker’s finance expertise and track record in accounts receivable & debt collection services.

The task was to develop a speedy and efficient process for improving cash flow and collecting outstanding balances.

SOLUTION

Create a dedicated team

To manage the outstanding debts, Broker created a customized collections process and appointed an experienced, highly trained team of credit controllers and collectors to the business.

Individual team members were assigned to particular customers to strengthen the relationship with customers and provide them with a consistent credit control partner, which in turn supported process efficiency and maximised cash collection rates.

RESULTS

Significant debt reduction

  • Collected approximately 70% of outstanding debts owed to the business within a very short timeframe.
  • Major cash flow improvement: increased collection rates by more than 200% (2015 compared to 2014)