Case Study: Optal and Mastercard
Client IssueOptal in one of the fastest growing businesses in the UK with a highly successful and innovative B2B payment technology which uses virtual account numbers (VANS). They wanted to identify new sectors to target and demonstrate to finance directors and accounts teams the value of its technology. Mastercard is a close partner of Optal.
Our project approach required a combination of market research data and financial modelling. The first point of call was to complete desk research to understand common problems with B2B payments, a massive part of the UK economy. This was used to frame the financial modelling in terms of cost drivers and savers. We used the modelling to complete a telephone survey with 100 senior finance executives in different sectors across the UK. The results were used to create a white paper, presentation and social media communication which identified:
- Millions of pounds lost due to inefficient B2B payments in the UK each year
- Concerns about the volume of mistakes caused by some payment systems
- Sectors showing the most interest in VANS payments
The results of the project have been used by Optal in their marketing and sales activity. A new website, white paper, social media communication and PR releases were created to communicate the results. In sales, the data was used to ‘open doors’, build business cases and enhance buyers’ engagement with well-recognised payment issues. Optal continues to be one of the fastest growing companies in the UK, winning awards and regularly featuring in top performing business lists.