Fondia Plc is an innovative legal services company that manages sales with data – the modern way. Old-fashioned Excel files and manual reporting procedures were let go as Fondia adopted a real time sales dashboard from Dear Lucy.
Fondia is a legal services company that offers its customers ‘legal department as a service’ (LDaaS). Listed on the First North, the growth minded company has 105 employees in Finland, Sweden and Estonia, and its revenue in 2016 amounted to 15 MEUR.
STARTING SITUATION IN FEBRUARY 2017
Before implementing Dear Lucy’s service, Fondia was struggling with a very typical challenge: Managing sales did happen quite systematically and transparently, yet it required a whole lot of tedious manual work each month to put the correct figures together and make them available to the key persons.
Examples of the data that was collected included sales in euros, customer meetings, cases won, cases lost, the hottest prospects, and average customer size in euros. It was particularly demanding to calculate the recurring revenue brought by new customers per each reporting period.
“We have a very non-hierarchical organisation where practically everyone has some sales responsibility. Hand in hand with the sales responsibility goes the need for transparency: Our decision makers need to have visibility to the key figures and their development almost real time”, says Tanja Piha, Growth Booster at Fondia and responsible for developing everything related to both the sales figures and the sales organisation.
“However, we had to spend a great deal of time and effort to regularly dig up data from CRM and other systems – and even then, our decision makers would only have an up-to-date view on our key figures once every month. That’s simply too infrequently given our aspiration to lead the company in a fluid, data-driven fashion. Plus, quite frankly, manual data processing is downright boring”, Piha continues.
ADOPTING THE DEAR LUCY SALES DASHBOARDS
In spring 2017, Dear Lucy was selected as a solution to Fondia’s challenge with manual collection and processing of sales data. Dear Lucy’s merits that brought it out on top among the competing solutions included a multi-channel interface to data, a smooth implementation process, and the possibility to later on expand the system’s coverage, to also present other data than sales figures.
”Dear Lucy solved our most pressing – and boring – problem, which was the manual processing of data. Naturally, some work was required with definitions and data processing while we were adopting the system. However, now that it’s done, we have our sales figures available to our key personnel almost real time”, Tanja Piha says.
”Dear Lucy works smoothly and is easy to read on mobile devices, too. Few vendors have realized just how important it is.”
“I’m saving an entire day of my time in a month now – the day that I used to spend collecting and processing data”, Tanja Piha says. “As for our management team, they no longer need to go to our CRM and other systems to search for data; instead, the important figures are available to them through Dear Lucy, real time. We are particularly happy that Dear Lucy also looks pretty and works smoothly on mobile devices. In our experience, few vendors have realized just how crucial it is that graphical elements and other content are easy to read and interpret also on a small mobile screen. Dear Lucy really has nailed it with its mobile interface”, Piha describes.
“I’m saving an entire day of my time each month, and our management team now has real time visibility to the figures they previously had to wait for as long as a month.”
THE END RESULTS AND FUTURE PLANS
Fondia’s management team now uses a Sales Dashboard that enables them to monitor the development of sales real time. Separate Excel files are history. Between meetings, the management team uses the sales dashboard with their laptops, tablets and smartphones.
“Wow, that’s one good looking user interface!”
Asked about the future plans with Dear Lucy’s dashboards, Tanja Piha smiles: “Absolutely! Now that we’ve seen how well this sales dashboard works, our appetite has naturally grown and we’re thinking of other potential figures that we could present with Dear Lucy dashboards. The Dear Lucy team are experts in business metrics, so we’re looking forward to receiving good advice and tips for how to present data in an illustrative fashion”, Piha says.