Frantz Group is primarily known for its expertise at business-to-business direct marketing, focusing on lead generation and nurturing qualified sales prospects. Less known but enormously valuable to satisfied clients is how FG leverages its revenue-driving skills in areas outside of traditional sales.
One notable example of Frantz Group’s diversification is our work for a global financial services company, where we drive enrollment of new customers into its electronic payment system.
To serve its customers today, with money tight, security a concern, and paperless transaction on the rise, the global financial services industry must provide diverse services to an exploding volume of potential customers.
Electronic payment systems are an important and burgeoning example of this. Our client’s system offers a rapidly growing supplier network of tens of thousands of global companies and processes tens of billions of dollars annually. The system allows enrolled companies – buyers and their suppliers – to collaborate over a secure electronic settlement network to manage purchase orders, invoices and payments electronically. Suppliers gain real-time invoice and payment status, and can accelerate payments in exchange for early payment discounts. In addition, there are no transaction charges to suppliers using the system.
The flip side of the value electronic payment systems provide to their users is the challenge they pose to their providers – who need to make them profitable.
Financial institutions do not profit from enrollments, but from the use of the system, where money is held securely and transferred appropriately and on a set timeline. In order for this process to function most profitably, careful management is required.
Rapid enrollment is key to this formula; time and energy spent on enrollment is overhead.
Frantz Group has invested in developing our own proprietary process to speed this initial stage and make it more efficient. We help our client accelerate enrollment into its electronic payment system, which shortens start-up time, increases throughput, and improves our client’s bottom line.
On behalf of our client’s customers, Frantz Group’s job is to uncover the correct contact within an organization and enroll new as well as existing suppliers into the system. FG walks customers through the entire enrollment process, involving both software and services, with speed and accuracy. We handle an enormous volume of contacts in an environment where the real value to our client lies in the number of enrollees initiated.
From January of ‘08 through August of this year, Frantz Group processed over 25,000 records, resulting in over 50% either confirmed as members or initiated as new members.
The number of companies demanding electronic payment service is increasing, and will continue to do so. Frantz Group will gear-up however necessary in order to handle demand, while applying our time-tested attention to detail to each account. FG has been very successful with this business and our clients are pleased with their results.