TAM Faktoring

Istanbul-based TAM Faktoring is an innovative new company that specializes in providing fast, high-quality factoring services to Turkish micro businesses, and small and medium-sized enterprises. TAM is an agile and flexible provider that can deliver reliable working capital solutions to business owners looking for partners who understand and can effectively support their growth.

The Challenge

Having received authorization from the Banking Regulation and Supervision Agency (BRSA), Turkey’s relevant regulatory body, TAM commenced operations in June 2012. Starting wıth its head office, the company rapidly expanded to six branches by the end of 2012 and continues to expand into major industrial centers nationwide.

To maintain a competitive edge during their rapid growth, TAM sought to ensure the highest levels of product and market knowledge within its 250-member sales team, many of whom are not multi-lingual.

The Solution

Early last year, TAM Faktoring turned to Qstream’s partner, SIMGROUP, to design and implement their sales training program. A professional development solutions company, SIMGROUP provides customized content and other services for developing stronger managers and salespeople with a focus on skills transfer and a wide variety of flexible delivery options.

As part of their program, SIMGROUP launched a series of simulations for TAM based on common sales scenarios. To ensure that their new skills would be put into practice, and to maximize the ROI of their training investment, the simulations were followed by an innovative mobile reinforcement program using Qstream’s sales capabilities platform.

Qstream delivers a powerfully simple, highly scalable and clinically proven approach to boosting sales performance. Unlike sales enablement solutions that automate or tether client conversations to rote presentations or processes, Qstream’s software guarantees that reps are ready for personalized, value-added business conversations that drive revenue and keep pace with market change – in minutes a day.

Using Qstream, reps respond to brief, scenario-based challenge competitions pushed to their mobile device. The platform’s onboard analytics engine captures critical data points from participant responses and instantly transforms them into actionable sales management insights, including targeted coaching opportunities.

The Results

With nearly 200 participants in each of eight programs, TAM achieved 96% average engagement as their reps competed for points on the leaderboard while strengthening their knowledge of critical topics related to regulation, processes, collection techniques, and customer service. By the end of the first six months, TAM’s sales reps achieved 96% mastery of their new skills on average, and were actively applying them on the job.

Available in 16 languages without any additional programming, Qstream enabled the reps to participate in the reinforcement challenges using the mobile app in their native language, further increasing user satisfaction. “The greatest challenge with any large sales force is finding a solution that can scale efficiently. With Qstream, we’re able to reinforce the right messages across our diverse sales team, ” said Kunter Kutluay, CEO of TAM Faktoring.

“Our reps find the scenario-based challenges delivered through their mobile devices very convenient, which is why engagement levels are so high. In addition, sales managers like Qstream because it instantly and consistently identifies knowledge gaps that help to make their coaching more efficient and effective.”