Professional Services, Finance & Insurance

Board & Executive Strategic Planning,
Benchmark Debtor Finance (AUS)
now Scottish Pacific Debtor Finance (SPDF Global)

SG - Clients - Scottish Pacific Debtor & Finance (Scottish Pacific Benchmark) - 09 Sep 2015

Background

Benchmark was formed in 1998, now Scottish Pacific Debtor Fianance (SPDF, Global) specifically to meet the working capital needs of small to medium enterprise (SME) – they have since grown to have offices across Australia & have merged to become Scottish Pacific Debtor Finance, a global company specialising in providing working using the assets of SMEs (their trade debts) – an ideal solution when external funding resources are so tight.

Issue

We began working with Benchmark in 2006, when it was still a medium sized privately owned company in Australia. This non-bank independence allowed them to react to the rapidly changing needs of their clients. Their expertise to come up with creative solutions & their independent ownership enabled them to adopt a more flexible approach than many bank-owned competitors. An important part of the way that SPDF still do business is to make it easy for people to do business with them. One way they achieve this is through their Internet Portal, which is simple to operate, provides all the info required to administer accounts & has been developed with client needs in mind. Synergy Global was brought in as the company was expanding exponentially - & like many businesses it was struggling to attract & retain the skilled personnel it required. The leadership team also wanted to take stock of where they were in terms of organisational development & discussed their five year Business Strategy & Marketing Plan. Always open to new ideas, they asked Synergy Global to facilitate their meetings, to help them be more innovative, keep on track, & focus on action/delivering outcomes.

Solution

We discussed their organisational values & vision – “to be recognised as Australia’s best in providing working capital solutions to small business” - & what was getting in their way of achieving this.
The Directors were clear that they needed to hire & keep the best people, whilst empowering staff to find creative solutions for clients, so we agreed on what actions would need to be taken by when; who would complete the tasks, with what support; & the likely resource implication (financial cost & the opportunity cost of the managers time). Benchmark & indeed SPDF have always differentiated themselves by their passion for customer service, so we also discussed how the company might continue to improve their assistance to clients, helping them reach their full potential. One of the areas that we worked on was how staff might develop/build personal relationships with clients, enabling them to find individualised solutions & empower them to take local decisions, which speeds up the service to clients – essential in this industry.

Outcome

SPDF recognises that great companies are about great people, & they are committed to attracting & retaining the very best talent. With the industry growing over 20% per annum in AUS & banks - a huge competitor when searching for quality staff, we outlined what they could really promise & were pleased that their organisational cultural could be a differentiator. So we worked with them to offer an open & honest atmosphere where ideas can be shared, encouraging staff to be confident, customer focused, creative thinkers. We discussed plans for expanding into new office suites, with more professional surroundings, plus ongoing mentoring & feedback strategies that help to develop staff. We also explored how best to energise, motivate & value people within the company – this led on to further pieces of work regarding health & organisation review tool, to highlight areas where they can continually improve their working environment & healthy corporate culture. This was underpinned with Executive Coaching. The company has since gone from strength to strength.

Related Cases
Other Categories