Post by Lorna Beaton on Jul 28, 2021 11:39:50 GMT
Salesforce: How do we use it as a tool?
Salesforce is not a tool I use. However, my understanding is that Salesforce drives business development. It illustrates and tracks contract pipelines and helps the business predict growth, win-ratios and highlights any lost contracts. Salesforce in turn helps the business with short, medium and long-term business development planning. For example, we may see growth as too fast in one area and decide to concentrate resources on developing a lagging area.
What is a "pipeline" and how might it impact your work?
Pipeline is a tool that helps The Fedcap Group see business development contract wins and opportunities against the strategic goals set. Pipeline allows us to see clearly see where we are against the 5 bold goals and highlights opportunities and where we perhaps need to focus more resource with Business Development. The pipeline could help me utilise resources where they are needed as a priority. For example the recent DWP contract win in the UK has meant flexing some resources for the implementation of that contract whilst driving business development in other areas of the business such as the take over of Kennedy Scott.
What did the pipeline report tell you?
• FY21 qualified pipeline as of 31st March 2021 is $227,808,540 ACV, $808,782,809 TCV
• New win rate of 14% ($8.7MM annual)
• Renewal rate of 9% ($4.1 MM annual)
• International growth has been fast and ahead of goals. Specifically, 176% over 100% ($300MM) goal. International business accounting for 78% (8 opportunities) of the qualified pipeline vs 22% (59 opportunities) coming from the Domestic pipeline. There are not as many International contacts in the market but come with larger revenue potential making them more efficient and valuable contracts to help Fedcap Group Growth.
• FY21, Q1 is the most successful quarter since FY20, Q1. There has been significant growth since FY19 in both committed and qualified pipeline. 3 key DWP contracts in the UK accounted for much of this significant steep growth and accounting for $173MM of qualified pipeline. This also made The DWP our most successful funder in 2021. That said, Fedcap Group is 38% behind FY21 ACV, pipeline target. Fedcap Inc, 31% behind FY21 ACV, pipeline target and CWS 21% behind FY21 ACV, pipeline target.
Review the two Metrics that Matter
What surprised you?
Despite growth in contracts generated staff numbers have significantly dipped albeit staff numbers are set to increase again by end of FY21. Despite COVID average wages and job outcomes have increased. I also found the gender split of staff interesting as in the UK it has at times been challenging to recruit males. In Q2, FY21 staff gender split reported at nearly 50/50.
What trends do you see?
Real consistent improvement in numbers of people moving into employment and improvement in average wage earnings. 5,808 people employed Q2, FY2021 beating previous best Quarter of 4,027 into work. 28% of those employed now earning $17.01 per hour against our goal of 25% this is really promising to see as improved earnings coupled with improved retention rates will truly make a difference to bringing people out of poverty.
Are there any trends that cause you concern?
The biggest concern would be the total number of people we are serving consistently decreasing albeit again with significant contact wins people served data should significantly increase by end year FY21. Despite the health challenges COVID has presented our communities our wellness service took a further outcome dip since its peak in outcomes back in Q4, 2017.
How will you use MTM in your own work?
I will be able to reinforce the use of MTM at strategic level and reinforce the value that our 5 bold goals are given by The Fedcap Group. More specifically the steep financial growth and continuous ambition to grow further will also help highlight the ambitious global growth plans in our 5 bold goal areas of The Fedcap Group. The Fedcap Scotland figures of customers into employment have been particularly positive aspect of the big picture so this will be participially motivating for staff to hear.