Navigating Vendor Lock in Philippines
In Latin America, the trajectory of small and medium-sized businesses (SMEs) is undergoing a major transformation—one that relies on the force of digitalization. As global markets go towards a digitally-centered era, the significance of adopting technological advancements resonates deeply, particularly for SMEs aiming to thrive and compete in an ever-evolving marketplace.
In this dynamic environment, the integration of digital tools, technologies, and processes isn't merely an option but a strategic imperative. Because of this, our client, Banco Promerica, reached out to Adastra Business Consulting (ABC) for our extensive experience across the region. We offer invaluable insights into the Costa Rican market, which enabled a deep understanding of the dynamics unique to Banco Promerica's operations, fostering a more informed and targeted approach to addressing their needs.
Working closely with the bank, we were able to drive a significant positive impact on the lending experience for small and medium-sized enterprises. From the initial process and technology review to the design of future-state processes and the creation of innovative SME scoring models, this project has set the groundwork for digital transformation of servicing the SME segment.
We identified gaps in loan origination process and formulated recommendations, designed AS-IS and TO-BE processes, and curated a roadmap with 25 initiatives. These initiatives target:
These measures aim for a holistic transformation, prioritizing efficiency, growth, and comprehensive operational oversight.
We also tailored several scorecards specifically for SMEs with GINI exceeding 50%: catered to existing and new clients. Detailed documentation encompassed descriptions and the methodology behind scorecard development. Our roadmap seamlessly integrated short and long-term solutions.