FinTech firm identifies $29.5M in savings through Organizational Wide Assessment & Benchmarking

Serving 100,000+ customers, this leading lending provider partners with more than 3,000 retailers in the USA

$29.5M
Annual Impact Uncovered
12%
Potential FTE Reduction

Challenge

Since 2020, the client had experienced both top-line and bottom-line growth year over year. However, concerns from customer confidence in global economic conditions, broad scale data privacy and security, regulatory and customer financial product transparency had created an ever-growing need to be more competitive in the lease-to-own fintech industry. The Poirier Group was engaged to examine labour intensive and transaction-dense areas across the organization to realize where people, process, and technology were not optimized for costs, scale, and quality of delivery. 

Discovery

Our team engaged 70 stakeholders across various Business Units over the course of an eight-week diagnostic, capturing and prioritizing 450 pain points that lead to discovery of the critical issues plaguing their teams throughout the business. Collaborating with key stakeholders in the evaluation process, our team worked to identify fundamental improvement initiatives positioned to increase top-line growth, create bottom-line efficiencies, drive quality of service, and create cross-functional alignment. As the client was currently experiencing a major organizational shift, the TPG team provided clarity on implementation requirements working together to support a 12-month roadmap complete with project plans and estimated resourcing. These included: 

  • Automating Manual Processes demonstrating low investment options to empower business teams to increase productivity and error-free delivery of services 
  • Client-Centric Engagement Program to foster a more positive and frictionless customer experience while optimizing operating costs 
  • Quality Merchant Partnerships aimed at building and maintaining sustainable relationships tailored to the client and their partner’s objectives 
  • Organizational Alignment strategy to create transparency and accountability, eliminate redundancies and promote synergistic opportunities 

Value Created

As result of this initiative, our client was equipped with a path towards scalable operations. Following implementation of the provided roadmap, these solutions will realize: 

  • 12% reduction in FTE to right-size headcount at the departmental level  
  • $29.5M per annum, equating to an estimated EBITDA improvement of 5.8% 
    • Direct impacts estimated to be $1.2M and $11.1M per annum to top and bottom-line, respectively 
    • Indirect impacts estimated to be $11.6M and $5.6M per annum to top and bottom-line, respectively 

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