“It has meant the difference between certain death and survival for Inoxico by helping us address critical issues proactively. We love using this tool.”
Dom Pitot explains how NXT-9 helped improve Inoxico’s sales performance.
Growing a business is always a challenge, growing a business without quality solutions, even more so. Fortunately, NXT-9 offers a world-class product that assesses businesses’ scalability. The NXT-9 X-Ray is a user-friendly tool that quickly and accurately diagnoses the most important growth constraints across a business’ key areas. It’s digital and the interactive report provides practical, prioritised recommendations for scaling effectively, so that one can act with immediate know-how.
To explore how the NXT-9 assessment tool is implemented with success in the real world, we interviewed Dom Pitot, CEO of Inoxico Data Powered Risk Solutions.
Who is Inoxico?
Inoxico is a provider of business-to-business credit risk solutions. The business utilises quality data and cutting-edge technology to deliver predictive analytics, also focusing on trade credit analytics. Basically, our solutions provide businesses with vital information in order to make sound credit limit decisions. Our mission is to improve and increase trade credit profitability for our clients.
How did the NXT-9 X-Ray diagnostic tool work for Inoxico?
The tool offered discernible and concrete support for our business. Its survey helped us to foresee, with pinpoint accuracy, the pinch points within the business and its recommendations were spot-on. Our leadership team was honest enough to recognise where our weaknesses are and what we needed to do to take fast action. It also allowed us to address issues prior to the possible onset of a crises.
Was there one particular area of the business that you felt the NXT-9 X-Ray redefined your strategy?
Sales for the business is a particularly challenging environment. Most of our previous feedback was received through anecdotal reporting. Sales success was slow and often desultory. Our method was not defined, and we had not thought about accurate processes. The NXT-9 X-Ray highlighted priorities which were implemented quickly and without huge disruptions to the business. By systemising the sales system and then applying these systems, the change was immediate and quite dramatic. It impacted the business in such a noticeable way, honestly it was a revelation. We love this tool.
How easy is it to use the X-Ray?
Time is always the most pressured commodity for any business. You will have to commit and carve out some time to use the X-Ray to its fullest potential. That was the most challenging aspect. We found it guided us along the way and gave us the opportunity to look at our business holistically. It’s the ideal tool to give you a big picture overview.
It’s important to realise that you don’t need to have the answer and that by utilising the X-Ray with a systematic approach, one is led to avoid uncalled for mistakes.
DOM’S QUICK TIPS ON HOW TO GET THE NXT-9 X-RAY WORKING FOR YOUR BUSINESS
- You have to be all in!
- You need to be invested in the process 100% – even when it shows weaknesses or errors in current systems – and especially when it makes you slightly or even very uncomfortable.
- The X-Ray focuses your attention on the important issues and gives you the opportunity to address these concerns prior to them becoming insurmountable obstacles to success. This way, you avoid time consuming blunders.
- The diagnostic report must be the benchmark for the executive team.
- You receive best practice recommendations guidelines to implement.
- Management teams are able to find – and use – the best possible ways of working to achieve business goals. This includes measuring how you work and charting the best course forward.
- You must ensure that the recommendations are implemented and followed. And, importantly for any business, these can be measured.
Systematic Is The Way:
- The X-Ray must apply to all parts of the business and used for all functions throughout your business: Finance, HR, Sales, Operations, etc. The tool assesses business scalability across eight business building disciplines.
- We saw that it is important that our team members work through each discipline in a step-by-step manner to ensure that everyone is part of the process, no matter what their title.
Pathfinder to Growth:
- Once you’ve committed and then implemented, growth follows.
- The X-Ray is able to be a pathfinder for your business to make improvements immediately.
- It also means that your strategy becomes more mature and shows the way.
- NXT-9 offers a clear understanding of your positive journey to scale your business.