Leveraging On Strategic Partnerships For Continued Smooth Service Delivery In The COVID- 19 ‘Era’
Dear Reader, We trust that you and your wonderful family are all well and that you are keeping safe as we fight COVID -19. The COVID -19 pandemic and the toll it has taken on our way of life leaves one in awe of how life can suddenly change. It also reminds one of the facts that change is inevitable. Such times call for individuals and business organisations to be innovative and decisive in adopting ways of sustaining their livelihood. This week, we share our story of how we partner with organisations who share our passion for serving! Today’s world is global. We live in a global village which calls for combined efforts in getting things done at the individual, community, organisational and national levels. No single human being, community, organisation and country is an ‘island’. The very fact that we are all part of an ecosystem calls for organisations to make deliberate strategic decisions to co-exist. The adage that says ‘ two heads are better; one’ couldn’t be far from the truth. Today’s fast-paced, dynamic business environment calls for concerted efforts in getting things done. Successful companies recognise that a ‘ do it alone’ approach to conducting business is not ideal for growth. Collaborative innovation is the key to delivering great service to customers in today’s world. At Investrust Bank Plc (IBP), we have made deliberate decisions to co-exist with other organisations in order to continuously improve our service delivery - our customers and members of the general public deserve it and much more especially during this difficult time as we collectively fight COVID -19.
Purpose/Power Of Partnerships The
purpose of strategic partnerships is to allow two or more organisations to work toward common or correlating goals. Impressive and big breakthroughs in business do not happen in silos. It is organisations that are open to working collaboratively within business ecosystems that solve business challenges and generate the right energy which propels growth, creativity and innovation. Successfully creating value-aligned partnerships that focus on common goals and complementary strengths is the only answer to offering a great service to customers. Strategic Partnerships – Fundamental To Improving Business Outcomes The beauty of strategic partnerships and collaboration is that once well planned and implemented, all stakeholders benefit. Businesses, employees and more importantly, customers all enjoy the positive outcomes of partnerships. Businesses cement their relevance and broaden as well as strengthen their market. Employees, on the other hand, are accorded the opportunity of exposure to new expertise and perspectives. Customers ultimately benefit from the unique strengths brought to the table by companies in a partnership. Strategic partnerships lead to enhanced collaborations and longevity and allow organisations to offer services and solutions that help customers become successful.
Effective Management Of Partnerships - Key For Success It
is critical to note that the success of partnerships is dependent on well structured guiding principles which are to be strictly observed by stakeholders. This begins with identifying gaps and opportunities in whatever service you want to offer. When opportunity drives collaboration, magic happens! Organisations planning to work together must critically analyse their customer needs and carefully ascertain what their pain points are as well as what they need to help hasten their growth. Sometimes the best ideas come from combined solutions from different perspectives. Identifying and establishing shared goals in partnerships go a long way in making them worthwhile. It is critical that stakeholders in partnerships establish a common purpose which should ultimately benefit customers. When the opportunity has been identified and shared goals agreed, it is important to align communication needs to the objectives of the partnership/collaboration. Communication channels should be well established and defined. This is important because following laid down communication procedures will help to monitor partnership objectives agreed between partners. Every organisation has its unique strengths. Leaning into each other’s strengths leads to successful partnerships. When stakeholders strive to bring the best of their talent and strengths forward, success is guaranteed. This generates functional and creative solutions because key learnings that arise are shared and adopted for best practice. Deliberate monitoring and evaluation activities should be planned and strictly followed. This will help to keep the partnership objectives alive and to make relevant and appropriate changes in good time for the good of the partnership and customers.
Benefits Of Strategic Partnerships The
benefits of well-managed partnerships lead to the following positive outcomes for stakeholders: • A competitive advantage/edge and an opportunity to access a broader range of resources and expertise. • Access to additional resources. • Growth in customer base. • Access to new products and services. • Deepening reach of the market in instances where stakeholders do not have a presence in specific geographic locations where
• Investrust Bank Plc (IBP) Strategic Partners Celebrated At
IBP, we recognise that we cannot exist in isolation and that we are a part of the business ecosystem, comprising many players. We strongly believe that by working with organisations who share our passion for serving, we help to enhance and steer innovation in the right direction for the benefit of our customers, the general public and all stakeholders. We are ardent believers in the fact that there is strength in numbers and that success comes when we work together with others who share our passion for serving. We also believe that worthwhile strategic partnerships are greater than the sum of its parts and that together, we can reach new heights. This ultimately translates into a better Zambia for our and the future generation. We applaud all our strategic partners who help us to realise our business goals. The value they bring to our business is immense. We are grateful that together, we make conducting banking and other business easier for customers. We remain committed to partnering with organisations and individuals who are passionate about service and the execution of it. Some of our partners include the following: • Zamtel (app for Agent customers, *427#). • ZESCO (bill payments,* 427#). • MTN (data, talk time, *427#). • Airtel (airtime, *427#, app). • CEC (data on *427#). • ZRA (domestic and customs tax payment on InvestNet). • NAPSA (contributions through InvestNet). • VISA (2 prepaid and VISA classic cards - provision of easy access to financial services). • cGreat – (mobile banking hosts enabling cash withdrawals from merchants). • Agents (they help to bring banking services closer to the people, especially in areas where we do not have a presence). We continue to be proud of our latest partners, Lumwana based Farmers Business Advisors (BSAs), International Development Enterprise (IDE) and All-Terrain Services (ATS). We partnered with these organisations to bring hope to and change the growth narrative of more than 2000 small scale farmers based in Lumwana area of North-Western province. Together, we work at helping the farmers enhance their productivity through access to capital and capacity building. Together will all our strategic partners, we are well poised to continue to serve our customers and members of the public as we fight COVID – 19. We trust that this story has given you great insights into strategic partnerships and how we work with other organisations at IBP. Until next time, stay blessed and be a blessing to others and remember to keep safe as we fight COVID -19. Wash your hands thoroughly with water and soap for at least 20 seconds or use alcohol-based hand sanitisers, observe at least 1m of social/physical distancing, cover your mouth and nose with a mask or indeed any cloth when you step out of your home to go to any public places and more importantly, stay at home! the partners have a presence. Accomplishing economies of scale.