Case Study: Beneco Solves Revenue Leakage and Loss
Client Needs:
As an established small company with more than twenty years of revenue, products, and services, Beneco needed Red Beach Advisors to refine their technical systems, processes, and procedures to reduce revenue loss, churn, increase productivity, and improve their customer’s experience.
Red Beach Advisors Solution:
Red Beach Advisors reviewed Beneco’s products and services and worked to understand the pricing and service fees of Beneco. We needed to understand how business was executed, what customer’s expectations were, and how to improve the service to match competitors. Upon reviewing this information, we reviewed the client list and reviewed contracts, services, and fees assigned to each client. We were able to meet with each internal department to outline, streamline, document the provisioning and on-boarding process to clients, and teach the staff the correct process. We implemented customer monthly reporting, revenue and services checks and balances, key performance indicators (KPI’s) to ensure clients are billed properly and engaged according to the products and services used.
Results:
After the implementation and training of the new process and procedures, along with the review of clients and contracts, Red Beach Advisors and Beneco were able to uncover a potential revenue loss of approximately 13% from additional fees and services rendered and not billed for their clients.
Red Beach Advisors – Case Study: Solving Revenue Leakage