A fast-growing Indian Bank used Nexizo to drive its sales transformation and leap ahead of the competition

Company

One of the most prominent private sector banks in India, it is known for its customer-centricity and highly innovative financial solutions. The bank has been in existence for more than 2 decades and has now become a very significant player in the Indian banking scene. Offering a wide range of banking and financial services across current accounts, loan, wealth management, and investment banking to its retail, corporate, and institutional customers, the bank has always been very open to adapting to new technology-driven initiatives with its commitment to digital banking and making financial services accessible to a larger audience. However, for some time their sales team had been struggling with government contractor business, as they had been running it purely informally. So far, it had been a dark horse, with no scientific logic applied to building a robust sales funnel. They were looking for a partner to help them build and drive an entire sales transformation project for their internal team.

Learn how Nexizo helped the Indian Bank drive its internal sales transformation

Challenge

The sales team of this Indian bank had already been generating sales leads for themselves of the government contractors in highway construction, municipality tenders, and railways tenders; but this was done very informally with on-ground references or other similar channels. But all of this sales leads data was incomprehensible and rather like a dark horse. There wasn’t any supporting data to validate or reason as to why one lead was more important than the other, hence the funnel conversions were highly inaccurate. The sales team didn’t have any organized information on government contracts, though they did have it hearsay.

Solution

With Nexizo’s custom enterprise solution, the company started getting organized daily feeds of the latest government projects in highway construction, municipality tenders, and railways tenders with updated information on when they were announced, the stages, participants, likely winners, rejections, and finally awardees. This was to the extent that the bank wanted specific keywords to be searched within NIT & BOQs. They started getting real-time updates on the stages of any large government project, and which contractor was awarded the tender.

Furthermore, all of this data was then scrubbed and mapped into existing funnels of their respective branches. Now as the branches of the Indian bank have access to full information for the technical acceptance, site location, size of the tender, project description, completion timelines, etc., so they can pursue these leads with absolute confidence and strong sales pitch for those government contractors.

Nexizo is the only Global company that can extensively deploy AI/ML & NLP to read such a large tender repository of 5Crs+ documents database to extract signals and notify its clients based on their specified custom criteria daily frequency. Nexizo’s product offering has become instrumental in leading the bank to drive an entire sales transformation project internally.

Benefits for the Indian Bank

Nexizo’s approach to solving this Indian bank’s challenge of getting the most relevant and accurate data feeds comes from the outlook that they believe every client’s problem is different, and hence a one-size-fits-all solution is not the way to operate. Nexizo's key strength is in offering customized solutions, but its power of is derived from the modular AI/ML-powered platform.

The bank now has a sharper focus in terms of sales leads with end-to-end visibility of the sales leads. This has built a brand new acquisition channel for the central marketing team and has resulted in additional revenue of INR 30 Crs. Not just this, they have also captured 12-15% additional market share for their target segment.