Situation and Objectives
- The client set ambitious growth targets for its global transaction banking division
- The current practices varied significantly from product to product
- There was also a ‘data issue’ that prevented top management to get a full picture of the pricing performance.
- The pricing process was handled primarily through outdated internally developed tools
- Simon-Kucher employed a 360° approach and studied the situation from different angles: strategy, information, optimization, implementation, monitoring.
- Simon-Kucher sat together with top management and helped all stakeholders align on common strategic goals regarding pricing, which is the foundation for effective initiatives in every field.
- Simon-Kucher worked hand on hand with the analytical teams to provide extensive data analysis on the current pricing performance.
- Lastly, Simon-Kucher developed monitoring tools and trained internal resources.
- The quick wins Simon-Kucher identified during the course of the analytical phase amounted to as much as 4% of revenue increase in one year.
- The increased revenues allowed the bank to fund additional initiatives with the aim of further staying ahead of competitors.