Value Delivered
Background
One of the leading banks in India, with over 5,000 branches, was looking for a system to streamline its merchant acquisition business unit. It wanted to increase the sale of its point-of-sale (POS) machines, improve portfolio management, and drive cross-selling of multiple products to retail merchants.
Challenges
The bank lacked a scientific method for mapping agents to prospect merchants, which resulted in poor penetration, low transaction throughput from POS machines, and hampered its sales coverage. They also had no system to verify whether sales agents were completing merchant visits and driving upsell and cross-selling activities. Moreover, incorrect merchant addresses hampered sales productivity.
Solution
- Address Verification and Geocoding
Dista’s address geocoding algorithm cleaned and verified addresses of over 150K retail merchant locations.
- Location-First Lead Management
We integrated multiple lead sources with Dista Sales, our field sales management software, for a seamless flow of leads into the system. It mapped merchant leads to the nearest bank branches and facilitated intelligent lead allocation by aligning sales agents to each branch.
- Geofencing Sales Visits and Meetings
To ensure true visits, our system set up geofences for a specific radius from merchants’ locations to verify sales visits and meetings. This offered sales managers complete visibility and transparency into rep activities and daily cadences. The mobile app for sales reps ensured visit compliance and increased prospect meetings.
- Dynamic Route Optimization
Dista Sales offered dynamic route plans by incorporating multiple variables, including visit time of day, visit frequency, distance between merchant location and agent home location,customer priority, and more. Our system offered multiple simulations to find optimized routes, leading to a higher number of visits per day, longer customer facetime, and overall conversion rate.
- Intelligent Beat Plans
Dista’s proprietary scheduling algorithm designed daily beat plans for over 1500 agents and identified the most optimal sequence of sales visits. Using dynamic route optimization, the app created the fastest and shortest routes to reach the merchant location, reducing travel time and increasing engagement.
- Balanced Portfolio Mapping
Our field sales software designed balanced portfolio clusters for over 400K merchants and mapped agents to each portfolio by considering their skillset, merchant location proximity, capacity, experience, and availability. It ensured equitable distribution of retail merchants in each portfolio and enabled agents to touch base with them at least once a month and record visit outcomes on their app to maintain transparency.
- Boosted Upselling and Cross-Selling
With Dista Sales, the bank launched multiple products designed for merchants, such as general and life insurance, personal loans, and new savings accounts. They mapped the customer journey for each product by recording details via comprehensive customer disposition forms.
- Merchant Activation to Drive Transaction Throughput
Our system enabled the field sales team to prioritize dormant merchants with low transaction volume of POS machines. This helped them engage with them to identify reasons for low activation, offer discounts to drive throughput, and increase the value of current accounts.
Highlights
- Increased customer facetime and engagement owing to intelligent beat plans
- Provided multiple reports like active/inactive merchants, lead assignment vs actioning, lead summary, and more
- Significantly improved upsell and cross-sell activities
See How Enterprises Leverage Location Intelligence with Dista
“Dista Service helped us with field investigation of our prospects as well as loan servicing for customers. Over 10K users are using the app to get real-time updates on their loan status, raise queries, respond to queries and more.”
Sandeep Gambhir
Head - Digitalisation & Marketing, ICICI Home Finance
“With Dista’s AI-enabled location intelligence platform, CMS provided seamless, faster, safer, and hassle-free doorstep cash transportation service. There was an increase in agent productivity while a reduction in cash movement overheads with the right-sizing of custodians and vans.”
Rohit Kilam
CTO, CMS Info Systems
