Challenge
Our client was seeking to close a ‘P&L gap’ of £5m and saw debt sale as an opportunity to support its year-end gap closing initiatives.
Solution
BFY undertook a detailed data analysis and segmentation exercise.
Given the poor state of the data quality in the portfolio, we undertook a data cleansing and improvement process to produce a clean sale file.
We worked up methods to increase the potential sale price, including reducing the collection effort required by the purchaser and put in place an agreed Compliance and Customer Engagement Framework.
Results
We ran the sale process on behalf of the client and outperformed its expected benefits case by running a ‘managed sale’ (rather than an auction) with a group of carefully matched purchasers.
Initial benefits delivered were around £3m, with the client well placed to deliver follow on sales.
