Thoughts
Change doesn't have to be painful - Stable Change and Transformation Consultants
For Consultants conversion rate should improve as the barrier to closing opportunities is not the quality of service that you can provide it will be the mindset shift required from the finance leaders and Stable through payments discovery sessions can remove that barrier.
The perfect partners for funding and delivering your finance systems evolution.
One of the hardest things to do can be to justify investment in your own area. Ironic really given as a finance leader in many people’s eyes you ‘hold the purse strings’………but in a desire to set a cost-conscious culture sometimes the area which receives the least investment is your own.
In today’s highly innovative world where there are a growing number of clear use cases for Artificial intelligence in Finance, standing still really is going backwards and it is no longer a want but a need for finance functions and supporting systems to evolve.
You have wrestled with your conscious and come to the conclusion that you must invest but then comes the next set of challenges:
Where do I start?
How do I not disrupt day to day?
How do I do this in the most efficient way possible?
These questions easily intertwine to lead to the wrong solution.
‘I will carve our part of my team to do it so that we don’t need any specialist resource, which means the only cost will be the new services, but over time that will pay back.’
Problems with the above:
- Your current team don’t have any spare capacity.
- They likely don’t have the change management or system expertise.
- The payback only comes once it is delivered therefore it is a multi-periodpayback.
- Innocent errors will be made during the system set up which will have to be corrected.
So, what is the solution?
Bring in experts to support with the project both in terms of assessing your starting point and desired end state.
Let them project manage the change process using their system expertise and supplier relationships.
Self-fund the project by allowing Stable Payment Solutions to assess your payments landscape while you are already having your starting point assessed and the ‘bonnet is up’.
The expression ‘low hanging fruit’ is used so often and so poorly. Even if it is low hanging you need to know what to pick, when to pick it and whether it is worth eating!
Stable Payments was formed to help businesses understand the current state of their payment and financial provisions and options that exist to swap them out from the incumbent provider.
‘One stop shop’ can be used in both positive and negative manner here.
Businesses often see the bank as their one stop shop when it comes to banking, cards, card acquiring platforms (terminals), lending, insurance, savings etc but the reality is that whilst they are from a convenience perspective there is no reward for pooling all your products under one provider.
We see this in our personal lives where changing providers often represents the best way of either realising value from your existing supplier or simply getting a better price for exactly the same product from somebody else – the whole concept of price match when challenged centres around the fact you are not initially being offered the best price because it isn’t in the supplier’s interest to do that.
The best price for the supplier is the price you will accept.
The best price for you is the price you could achieve for the same product/service irrespective of provider.
Stable Payments use industry expertise and a broad spectrum of partners across the finance and payments space to quickly assess whether you are receiving value for money and offer alternatives across key categories of:
As well as an overarching assessment of opportunities to optimise connections and improve processes. Stables founders have both been that finance leader with the exact problem you have but also spent years in the industry providing solutions to businesses.
The result of a Stable Assessment will be identification of opportunities to save costs immediately, but our encouragement wouldn’t be to bank that saving it would be to invest that saving in the correct tools to support with your change projects.
The end result will be a far more effective change process, a quicker payback period and a set of suppliers and partners offering value to you in their own right as opposed to because of a legacy relationship.