Competitive Intelligence and Process Benchmarking
About Fenix International
Fenix International is a next-generation energy company with a mission to transform its customers’ quality of life through disruptive innovation in energy and financial services.
With headquarters in San Fransisco, CA (USA) and offices in Uganda, Kenya, and Zambia, Fenix International’s flagship product, ReadyPay Power, is an expandable, lease-to-own home solar system financed through affordable installments from just $0.15 per day over Mobile Money.
- Industry: Renewables & Environment.
- Fenix’s Goals: Engaged KPA to understand possible vetting processes needed to determine the creditworthiness of its prospective target base in Nigeria.
- Results: Detailed report with transcribed interviews that allowed benchmarking against competitors, providing possible vetting processes necessary serve its prospective customer base in Nigeria.
Fenix had already established a presence in East Africa and wanted to conduct some initial market assessment about the West African market, particularly Nigeria, where a good amount of their addressable market resides.
Due to its unique business model, the somewhat financial complexity involved in financing the purchase of its products (Fenix’s customers paid for its products through recurring payments charged either through mobile money or airtime credit), and a lack of consumer credit history in Nigeria, Fenix wanted to determine the vetting process used to determine creditworthiness of its prospective customers in Nigeria.
KPA developed a one-week market intelligence project that involved market scenario-playing and interviewing of industry experts, competitors and service agents to determine the process used to verify the creditworthiness of similar customers in Fenix’s target base.
- Competitive Intelligence to Build Vetting Process
Through a detailed report and transcribed interview, Fenix was able to benchmark its process against competitors and understand how to build a vetting process for its product in Nigeria. This included advisable steps required to mitigate any risk involved with product sales in the Nigerian, assisting future expansion plans into the market.