Step Advisory assisted Capital Appreciation’s Payments Division (CPD) with a refresh of their 5-year strategy, including a research exercise to validate core elements of strategy.
The Fintech landscape has seen rapid evolution over the past decade. In order to remain competitive, players must ensure they stay ahead of any major shifts. Having recently gone through a strategy formulation process, CPD required assistance from an independent third party to test core assumptions of the strategy surrounding the longevity of the POS terminal market. Additionally, CPD also required a focusing of the broader strategy into specific into strategic themes and objectives to provide clear direction to the internal team and shareholders.
CPD consists of two subsidiaries, African Resonance and Dashpay, as well as other business operations that run across the subsidiaries. In order to understand the strategic priorities of the division as a whole, Step conducted interviews with the leadership team. Step refined the strategy in place at the time from 34 initiatives down to 5 prioritised strategic themes with cascading objectives and measures of success. Additionally, Step workshopped a purpose statement and ambition for CPD as a whole for the next 5 years.
Concurrently, Step conducted secondary research to understand the present and future state of Fintech payment landscape (both locally and globally). Step interrogated the findings from interviews and desktop research and compared them with the new strategic themes and objectives.
Through iterating with the executive team, Step was then able to objectively validate the strategy with strong research to support the strategic themes chosen. The work performed ensured that the direction of the business was laser-focused and succinctly articulated, which will enable the leadership team to communicate the strategy to shareholders and to practically drive the the execution of this strategy.