Siemens Financial Services: Redefining access to B2B finance

BACKGROUND

Somo transforms a frustrating procedure with multiple touchpoints into a clean, simple four-step process.



CHALLENGE

SFS needed to create a simple self-serve solution for its customers. The existing tool was complex, with the vast majority of deals having to be carried out by their sales staff. Wwe were tasked to transform their entire sales process – from onboarding to contract signature – enabling staff to focus on the high-value deals, and no longer spending time on unnecessary tasks.


APPROACH

During their annual ‘Customer First week’, Somo led a team of six SFS employees – all in non-digital roles and covering a plethora of disciplines - to design an innovative way of offering finance at the point of sale. Our aim was to make SFS think differently. We tackled challenges, such as getting to the root of complex business problems in one day.

Using our rapid prototyping expertise and embracing a truly collaborative process, we co-created a prototype customers love, all in a single week.


RESULT

We delivered a first-rate product, an elegant digital tool that offers a far better experience, boosts usage rates and helps introducers – and end customers – complete deals quickly and smoothly. 

The results have been striking. Time taken to get approval on finance has dropped from 110 minutes to 60 seconds, and to perform deal upgrades – from 30 minutes to seconds, giving automatic decisions on finance under £250,000 and dramatically improving the customer experience.

It’s been a fantastic process and Somo have been a brilliant partner throughout, challenging us to ensure that value for the user is front and centre. It has culminated in us not only delivering a transformative digital product for our Customers, but learning invaluable lessons in agile, failing fast and trusting the process

Ajay Patel , Head of Strategic Development and Marketing

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Siemens Financial Services: Redefining access to B2B finance

Somo transforms a frustrating procedure with multiple touchpoints into a clean, simple four-step process.

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Somo Global

02033973550 marketing@somoglobal.com