“Putting the customer first” … How BFS designed a customer-centric strategy

Earlier this year, BFS launched a detailed country review of their UK (Invoice Finance), Poland and Germany businesses to take a more customer centric approach by focusing on identifying customer segments and how BFS can anticipate and meet their current and future needs.

As part of the ongoing BFS 4.0 strategy, the project is following an inclusive and collaborative approach with extensive engagement with customers and across multiple internal teams to really understand how the business can add value to customers.

To identify where they should focus their effort and investment, BFS engaged with customers using a variety of methods including in depth interviews, focus groups and online surveys to understand their specific needs and pain points.

The strategy is centred around decisions made on customer needs and how the business can best address these compared with their competition, and then identifying what it will take to address those needs.

Over 40 people across BFS have been involved so far, including key stakeholders across IT, Sales, Marketing, Operations, Partnerships, Risk, and Finance teams.

Lucile Knight who led the project said: “This has been a real collaborative effort across multiple teams, putting the customer at the heart of all we have done. This had enabled stakeholders to think differently about how we understand our customer and should focus on their pain points and the need to really add value and support their growth.

“It’s been an amazing effort by the teams, with all stakeholders showing a real passion for identifying the needs of our customers, and defining the right strategy for the business to create a mutual value exchange.”

Feeling inspired? Want to run something similar in your business? Contact a Point Team member to start the conversation.