Commercial Credit aims higher, retains MTI for strategising

Monday, 21 July 2014 00:00 - - {{hitsCtrl.values.hits}}

Commercial Credit (who announced a profit after tax of SLR 1 billion for 13-14), has signed up with MTI Consulting to develop its Corporate Plan, consecutively for the second time after the successful implementation of the organisation’s three year Corporate Plan that was developed with MTI’s expertise and inputs in 2011.

“The Corporate Plan we developed with MTI Consulting in 2011 has been the basis of many strategic pursuits that the company has undertaken during the last three years and has significantly contributed towards the improved performance of Commercial Credit over the last three years. More importantly, MTI’s approach on getting the full management team actively involved throughout the planning process has made a significant impact on achieving results even above our expectations,” stated Commercial Credit CEO Roshan Egodage. Commercial Credit is the fastest growing finance company in the country and has achieved 24 billion total asset base by end of December 2013 and 2.8 billion net interest income for nine months to that date. Commercial Credit’s Corporate Planning process is based on MTI’s 8S Model – a robust framework that has been used in over 25 countries, across diverse industries. This strategic planning framework starts with the scope of the business, scans the operating environment, sets the sights, formulates strategies and extends to systems (implementation). The discipline also encompasses structure, staff and social responsibility and sustainability. The plan will be developed through a series of Consulting Workshops, where cross-functional teams are empowered and guided by MTI’s Consultants and taps into the insights and innovations of the team, ensuring ‘ownership of the plan and its implementation’. It begins with a clean slate and encourages radical re-thinking instead of incrementalism. Each of the 8Ss start with a strategic audit as the basis of strategic planning. The strategic audit efficiently extracts relevant insights. The process encourages cross-industry / cross-border learnings that come from MTI’s global experience.