Enabling a world class sales function for a global FinTech business
As Rapyd has quadrupled its revenues in 2021 and aspires to continue its growth, the company valuation is steeply increasing. With a new investment and a recent M&A, the business has focused on transitioning from a young start-up company to a process driven company, partnering with SBR to ensure its sales function is in a correspondence with their growth strategy.
Rapyd is a Venture Capital funded global fintech-as-a-service business, with a B2B product range that enables their customers to collect, hold and disburse funds globally through a single API integration. Rapyd’s customers range in size from small online-only merchants in a single country through to globally recognised brands.
“We needed a more defined, sustainable and scalable sales process to aid both onboarding and existing commercial team members. SBR offered a comprehensive solution with a Sales Enablement programme, onboarding process, Sales Playbook to define each stage of acquisition to onboarding; including the entry and exit criteria, workshops, competency frameworks, and aligned sales processes and methodologies into the Salesforce function.”
Kevin Carey Head of Sales Enablement of Rapyd
SBR’S APPROACH
SBR offered a comprehensive solution, we shaped, trained and delivered a Rapyd Sales Methodology across multiple global regions, created and delivered a robust Sales Enablement programme for existing teams and a sales Onboarding Process for new hires. We also supported the creation of a Sales Playbook to define each stage of acquisition to onboarding; including the entry and exit criteria, buyer and salesperson activities and give the business a common framework / language to work from. We ran workshops on Pipeline Acquisition, and on how to instill a more rigorous Qualification discipline. Moreover, SBR analysed engagement scores across historical CRM data, incorporated, and aligned sales processes and methodologies into the Salesforce function. SBR delivered a series of a Rapyd Sales Competency Frameworks and created recruitment process to recruit top talent, reduce ramp-up, and aid leadership support.
WHAT DID THE CLIENT WANT TO ACHIEVE?
To protect Rapyd’s current and forecasted growth, the leadership felt a need for a more defined, sustainable and scalable sales process to aid both onboarding and existing commercial team members. As one of the Rapyd’s goals was to double commercial team headcount within a year, there was a requirement to support ramp reduction and increase productivity per person. Rapyd’s leadership was also looking for more control and process around pricing and when to say yes or no to an opportunity.
WHAT ISSUES WHERE THEY FACING?
Due to Rapyd’s fast-paced growth and recent M&A, there was a degree of inconsistency across regions. Rapyd was aware of a fact, that a long sales cycle can create inefficiency and risks towards projected growth and pipeline depth, therefore they understood that pipeline assurance was critical. Imminent integration of Salesforce (CRM) and the potential challenges of adoption and change management risking quota attainment were potential business threats as well.