Centric

Business is Good; Could Be Great

A $300 million provider of short term loans operates more than 1,000 retail locations across 35 states. But management saw an opportunity to expand its business and reach new customers via an online business.

A Strategic Approach

The Company sought to establish and quickly grow market share in the online lending market. Management set forth several key objectives:

• Develop a vision for the online business model to guide investment over a three year period while minimizing capital investment risk
• Design, build and deploy a scalable operating model to support future growth in the online business
• Enable the convergence of retail operations, telephone operations and the new online business to enhance customer service

The Centric Connection

Company management partnered with Centric to develop the online business model from the planning stages to full deployment. This approach included several key steps, including:

• Conduct competitive analysis of the online lending market
• Develop the strategy and vision for the new business model
• Design and build an operating model which defined the organizational structure, and outlined customer service and other business processes, performance management metrics and the supporting IT architecture
• Develop both short-term and long-term strategies to deploy the operating model
• Launch the pilot business model
• Assist with overall deployment of the new online business

Powerful Results

The team from Centric helped the Company launch the new online business in less than four months. After the successful launch of the pilot online business model, the Company moved to full deployment and achieved tenfold growth in online revenues within the first year of operation.