Tapping New Business Opportunities for an Electronic Bill Payment and Presentment Provider
The client, a large electronic bill payment and presentment (EBPP) provider wanted to understand the scope for new and innovative service offerings based on its current capabilities. The company was also in the process of expanding it’s electronic clearance service (ECS) operations nationwide and wanted to understand the extent of the threats it faced from other modes of payment mechanisms such as Real Time Gross System (RTGS), Electronics fund transfer (EFT) etc. Thus, the top management requested UC to assist them in chalking out new and incremental opportunities and to help them understand the full potential of their company’s ECS and its applicability in other sectors.
To tap new business opportunities, UC adopted the following approach:
- Conducted internal interviews with the top management to understand the current product/services offered, the existing client portfolio and future initiatives
- Conducted extensive desk research on the international and domestic EBPP landscape to study the evolution of the industry and key players
- Profiled Key EBPP providers (international and domestic space)
- Brainstormed for new opportunities within the electronic bill payment space in India
- Validated selected opportunities through extensive primary research with potential clients/potential alliance partners
- Profiled industry verticals for ECS debit/ credit opportunities
- Evaluated each opportunity through extensive primary research - Met 50 respondents across telecom, utility, banks, directorate of purchase and stores, Reserve Bank of India, the post office, etc.
- Sized the market potential for each opportunity and prepared opportunity case packs for each.
Identified incremental opportunities for the company within the ECS space and prepared indicative revenues for the client for each short listed opportunity.