From House "On Fire" to House "Of Gold"

Background

A 3-year old company had succeeded in developing mortgage lending software in d-base and acquired 80 banks and mortgage companies of various sizes as customers. All customers were impatiently awaiting the C++ rewriten version of the product. The company was loosing $100,000 per month.. An absolute requirement was to retain the customer base and acquire new customers quickly in order to satisfy investors.

Objective

A SGS partner was commissioned by the software company to assess the situation and determine the following:

1. Does the organization have customer service set up to meet customer needs?
2. Does the existing sales force have what it takes to retain existing customers and acquire new ones?
3. What other initiatives need to be put in place for the organization to succeed?

Short term, sales had to increase and demonstrate a trend.

Key Results

• Key hires were made for customer service and sales
• 78 of the 80 customers accepted the new product within a 3 month period
• New sales were demonstrated in 30 days

Commentary

Once the customer base had settled and was referenceable, facilitated growth and expansion was possible. The customer base escalate to 1800 companies nationwide and the company went on to become publically traded.

References:

Members of the executive team, and the sales and marketing teams are available at your request.

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