Executing strategy for results – Howwe accelerated growth for PayEx
PayEx is a Nordic & Baltic payments provider. In 2017 they were being groomed to be sold but was greatly undervalued vs. market because of poor bottom line performance and slow growth of the new generation of payment product (that was very popular and high margin for their main competitor).
INCREASED PROFIT IN 36 MONTHS
To win, PayEx needed to refocus their whole organization on their must win battles and move away from a silo-mentality and a lack of accountability. They used many different systems for performance management and business intelligence but couldn’t make change happen year after year.
Since the implementation of Howwe in January 2016, Payex managed to move the bottom line from 4 to 10% (+$ 14M) EBIT, improve growth of their prioritized product segment with 12% (+51M) and improve employee engagement within the first 12 months. PayEx was sold to the largest bank in the Nordics who in turn used Howwe to drive the merger initiative.
Howwe was used in the operational merger and is now used by both PayEx and Swedbank to execute strategy and business plans.
Video in Swedish
Why we use Howwe
Join us as we talk to Raymond Klavestad, Vice President and Åsa Lundberg, Head of Business Governance at PayEx. They decided to start using Howwe to break a habit of setting too many goals, leading to a loss of strategic focus. They are using Howwe to steer and accelerate their initiatives and goal progress. Today, they achieve their high set targets and mange to maintain their focus on what’s strategically most important.
Three Disciplines for Acceleration of Growth
PayEx accelerated their financial results by using the Howwe methodology and enterprise execution software
Prioritize & Align
The first step is to prioritize and decide the Most Important Goals based on the most important financial KPI.
The next step is to align the organization to support the overall most important goals in order to create focus, accountability and free up time.
The teams created Key Activities – which lead to a proactive behavior that accelerated their progress towards the most important goals.
Each team performed their Key Activities on a weekly basis. The Key Activities account for about 10-20% of available time. Leaders steer and support their teams in order to reach their goals – in time.
All teams start with a weekly acceleration meeting.
The short and structured meeting creates focus, a strong commitment around goals and a willingness to be a part of the journey. Seeing the progress, visualizing the goal steering, and creating transparency create great accountability and increased team spirit.
Execute your strategy faster with a more secure outcome.
Want to know more about how Howwe enables a proactive way of working and empowers the executing strategy for results on all levels of the organization?