| Management Challenges |
First Data Corporation built a large merchant processing
business through a series of acquisitions in the 1990s.
This new group was an incongruent, non-integrated organization
that distributed products and services via two channels,
resulting in marketplace conflict. It also faced pricing
pressure from bank clients. Executives turned to Weinstein
to address these critical issues. |
| Solutions Delivered |
Weinstein led the development of the Group’s
Strategic Plan. Weinstein led executive team discussions,
investigated and proposed ideas, options, and strategies
to meet self-imposed aggressive objectives and to resolve
issues. The plan document was prepared and presented
for approval. |
| Results Achieved |
The Chairman and Executive Committee of First Data
resoundingly approved the Strategic Plan, which focused
on growth and investment to create superior products
and services. Priorities shifted and resources reallocated
(some of the $800 million approved budget) to:
- Integrate the organization.
- Consolidate account processing and migrate customers.
- Create common, robust processing platforms.
- Develop new value based, highly differentiated services
in e-commerce, information distribution, and debit.
- Improve service quality.
Today First Data retains its #1 market rank and excellent
financial performance. |
Service
Description: Improving Corporate Performance