Turning Around a Challenged Account in just 4 Months

Challenge

In an ambitious venture into large enterprise clients, a significant challenge arose with a large international bank. The bank's account was underperforming, with only approximately 40% of the annual commitment delivered in the first three quarters. Faced with the threat of contract termination, the customer demanded the remaining 60% of the project deliverables in the final quarter, placing immense pressure on the team and highlighting the need for urgent intervention.

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Business Impact

The inability to meet the customer's expectations not only jeopardized the existing contract but also posed risks to future relationships with potential enterprise clients. Successfully turning around this account was critical to establishing credibility in the competitive landscape of large-scale enterprise solutions.

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Strategy

To address the challenges effectively, the following strategies were implemented:

• Collaboration with Leadership: Engaged directly with the Managing Director of the bank to identify and resolve critical issues, including incomplete requirement documents and deficiencies in the project pipeline.

• Performance Dashboard Development: Created a dashboard to monitor and display the number of use cases deployed per person per week. This initiative aimed to foster healthy competition among team members, enhancing motivation and accountability.

• Regular Updates: Established a routine of weekly progress updates to the customer leadership, ensuring transparency and keeping all stakeholders informed about the project's advancements.

 

Outcome

The proactive measures led to a remarkable turnaround, transforming the account from red to green within four months. Key outcomes included:

• Restored Customer Confidence: By addressing the underlying issues and demonstrating consistent progress, trust was reestablished with the bank's leadership.

• Achieved Project Commitments: Successfully delivered the remaining 60% of the project commitments within the stipulated timeframe, securing the continuation of the contract.

• Foundation for Future Engagements: The successful handling of this challenging account not only positioned the company favorably for future ventures with other large enterprise clients but also established the bank as a reference customer.