Singer to focus on team efficiency and tighter credit approval in 2009
Company makes clear of its 6 core businesses
Singer, leader in home electrical appliance hire purchase, is prepared to handle poorly projected economy in 2009 with a strategy that focuses on "work efficiency, human efficiency and company efficiency". The strategy will also focus on preventive moves, while strengthening revenue and reducing cost through system and process enhancement.
December 12, 2008 - Singer Thailand Public Company Limited, leader in hire purchase of home electrical appliances and sewing machines under the brand name of SINGER, announces its readiness for next year by strengthening the efficiency of the system through human resource enhancement and clearer core business classification. The country anticipates that the economic situation in 2009 will be affected by the recent and current political instability.
Boonyong Tansakul, Sales and Marketing Director of Singer Thailand PLC, disclosed Singer had given importance to human resource development as means to upgrading the entire business operation and preventing some of the problems that may arise. "Operating a hire purchase business with major customers being grass root consumers requires excellent relationship between the 2 parties - customers and Singer staff. We can detect a sign of trouble before an account turns into bad debt," he said.
"Singer understands the importance of capable staff and is trying to do everything to raise their efficiency in all aspecvs namely sales, credit inspection, debt collection and after-sales service as they are key factors for the company's foundation and success," he explained.
"As for the sales aspect, Singer is preparing to combine poor performing branches to increase productivity. The use of Balanced Scorecard will come in to play as Key Performance Index (KPI) for our employees at all branches in every district and zone. Those without adequate performance for 2 consecutive months will have to undergo a training process for improvement. Failing to improve the status will mean demotion from full-time staff to part-time and eventually dismissal. Singer will be spending 50 million baht for a below-the-line recruitment campaign nationwide for new employees and start up of Singer Academy to establish effective programs for new generation of quality sales personnel and Singer sales staff," he said.
"As for other relevant concerns, Singer is preparing for the projected economic downturn with tighter measures in credit approval such as higher down payment, stricter regulations and tighter screening criteria, along with increasing number of staff, adjusting the operating hours of the credit center and approval process that reflects more to the sales situation. Singer will also set up credit inspection team by going to the homes of new customers for actual proof. Debt collection process will be enhanced with aims to reduce the number of non-performing debts by as much as possible," he added.
As for the after-sales service, Singer is setting up a proper Customer Relationship Management (CRM) unit to take care of customers. A budget of 5 million baht is earmarked to purchase equipment and upgrade software to improve the service of the existing Call Center, where it will be divided into 4 teams, each assigned specific task namely - pampering customers, providing after-sales services, alerting the installment payment and enhancing debt collection.
"As for the plan for next year, Singer will divide its core businesses into 6 separate areas namely electrical appliances, sewing machines, computers, insurance products, motorcycles and wholesale business, in order to better indentify the strategy. However, the main focus remains on home electrical appliances. Best selling products this year include washing machine, refrigerator, freezer, sewing machine and air-conditioner," he said.
"Singer is expecting serious economic downturn for next year due to severe impact on the country's export operation, which resulted in greater unemployment figures within the industrial sector. Workers without jobs relocate to their homes in the provinces and that could mean independent occupation like direct selling may be the popular choice of career. We are preparing to accommodate these people and training them about sales so that they could be of great service to Singer in their native provinces," he concluded.