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Background

Caxton FXCaxton FX is a leading foreign exchange and international payments provider, offering unparalleled value and service to clients since 2002. From its London Headquarters, Caxton FX provides a full range of currency solutions for private and corporate clients and in 2014 boasted an impressive turnover in excess of £ 760m.

The business prides itself on the quality of its products and the high standards of service that it delivers to its clients, so much so that these efforts have been independently recognised by them being awarded many industry awards from the likes of ‘Which?’ and ‘Consumer Moneyfacts’

Challenge

With a strong demand from its corporate customer base CEO Rupert Lee Browne recognised an opportunity to invest for growth. In April 2014, the company engaged Sales+Profit to conduct a strategic review of their Sales operations.

Our subsequent report highlighted a number of areas that could be developed

  • Clearer communication of the Corporate strategy
  • Issues with the incumbent Sales Leadership
  • The need for a formal Sales Process
  • Increased clarity on the Corporate identity
  • Review of Sales personnel including team planning, recruitment and inductions
  • Improved organisation of the Sales division and implementation of key reporting structures

Implementation

Once the Strategic Sales Review had been completed a further session was arranged to enable the business to prioritise the recommendations in the report and plan the implementation of change. Sales+Profit provided one it its highly experienced and commercially astute Sales Leaders to spearhead the change alongside the Board of Caxton FX in a structured and sympathetic way, so as to ensure all existing stakeholders were onboard and aligned.

Results

Within a period of 5 months, Sales+Profit had not only implemented all of the desired changes but were even able to make recommendations and introduce a high-quality Marketing Director to the business avoiding recruitment costs. A delighted Mr Lee Browne commented ‘It became clear from a very early time that Sales+Profit were able to address so many of the challenges that our previous sales director was simply unable to deal with. Their experience and their willingness to fully immerse themselves in understanding our business has been very impressive’.

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