Big6 initiatives generate up to £15m in year one
Our client, a Big6 UK energy retailer, had suffered an adverse impact to its gross margin as well as higher than planned debt balances.
BFY Group was engaged to identify potential initiatives to close the client’s adverse financial position.
A rapid review brought our consultants up-to-speed with our client’s position and the issues affecting its business, stakeholder review sessions and exploration of finance and operations, giving us the insight we needed to progress improvements.
Analysis of existing data and market intelligence, alongside internal structures and processes were followed by a full segmentation and analysis of its debt book.
Our insights were summarised so that initiatives and countermeasures could be clearly laid out for our client, with the objective of helping it achieve improved profit and commercial health.
BFY Group identified five new initiatives for the business to pursue, with potential benefits of between £9m to £15m in-year, as well as £5m to £10m recurring benefits.
Initiatives included addressing significant issues around loading of prepayment debts, new ways of managing customers in default or delinquency, new approaches to customers who had never paid, a full customer debt collection-journey redesign, and ring fencing of high-risk debts.