Ken Lever was appointed as CEO and we worked closely with him to return Xchanging to success through delivering four key initiatives. The first was ‘stopping the bleeding’, reducing costs and tackling unproductive business areas to address profitability. For the second initiative, ‘getting fit’ – which helped Xchanging focus on areas where they could win – we worked with the insurance and technology divisions to develop new strategies for growing value. A key recommendation was around the huge potential of the insurance software asset. Working with Xchanging’s new head of technology, we developed a winning market proposition; the result, Xuber, became the most successful product launch in Xchanging’s history. The third initiative, ‘competing to win’, brought a new focus to market development and account management. Finally, the fourth initiative, ‘going for gold’, is about building a world-class contender to drive lasting growth. After working with Xchanging on a new organisation design to accelerate growth, we are advising on a fundamental review of the strategy for Xchanging’s financial services industry sector.
Over the course of our support, Xchanging’s share price has doubled – representing an increase in value of £150 million – as markets have regained confidence in the company’s ability to compete profitably.
To learn more about PA's expertise in strategy implementation, please contact us now.