Thanks to its purely on-line operational mannequin, BDSwiss Group has been in a position to reply rapidly and effectively to the ongoing COVID-19 disaster
Author: Alexander Oelfke, Group CEO, BDSwiss
July 21, 2020
As COVID-19 continues to wreak havoc on hundreds of thousands of lives, worldwide economies are being devastated and companies – each massive and small – throughout the globe are being pressured to bear radical adjustments. Leading economies have been placed on standstill as extended lockdowns designed to cease the unfold of SARS-CoV-2 have pushed inventory markets decrease, inflicting mass unemployment and rising fears of a worldwide recession. Given the severity and unpredictability of the scenario, many corporations had been removed from ready to cope with the slew of challenges triggered by the pandemic.
While some companies have benefitted from main shifts in client behaviour – together with a flip in the direction of on-line companies – all corporations have been compelled to make swift and infrequently important adjustments to their operational fashions. BDSwiss Group, a worldwide monetary companies business, is one of the corporations that – thanks to its purely on-line operational mannequin – has been in a position to reply rapidly and effectively to the ongoing disaster. Importantly, it has accomplished so with out compromising its shopper expertise. Moreover, the firm has managed to develop its shopper base throughout this era by regularly onboarding new expertise and tripling its common buying and selling quantity.
Established in 2012, BDSwiss affords retail foreign exchange and contract for distinction (CFD) funding companies to greater than 1.three million purchasers from 180 totally different nations. Having acquired a number of licences, it now operates on a near-global scale, delivering world-class on-line buying and selling experiences in a regulated and clear surroundings. BDSwiss’ progress projections for 2020 stay promising regardless of extended lockdowns.
All corporations have been compelled to make swift and infrequently important adjustments to their operational fashions
Putting folks first
Like all corporations in these instances, BDSwiss finds itself in an unprecedented scenario. Nevertheless, its method to the COVID-19 disaster has enabled it to climate the storm. As a web based funding companies firm, its product supply and distribution channels have remained unaffected. Still, there was so much to be accomplished on an operational degree; due to the manner its groups and operational techniques are arrange, BDSwiss was in a position to make quick and decisive adjustments to guarantee business continuity.
Unlike many industries, funding companies and different monetary companies corporations have the benefit of predominantly providing their merchandise on-line. Even so, the sector has had to transition from staffed workplaces to a work at home (WFH) ecosystem. With virtually 200 staff and workplaces in a number of nations, BDSwiss rapidly and effectively pivoted to a WFH system, prioritising its staff’ well being and security whereas doing so. The firm cancelled all worker journey and seminars, adhering to the directions of native well being authorities. On March 13, BDSwiss was in a place to enable all staff to WFH – thanks, in massive, to the agency’s infrastructure, automation and firm tradition.
Ensuring the security of the workforce was paramount – understandably so, given staff are unable to carry out their obligations when their wellbeing is at stake. Having established an operational mannequin that helps telecommuting, BDSwiss staff had been in a position to profit from distant working early on. The firm addressed its staff’ issues and ensured that they had entry to all the needed gear and help required to have the opportunity to ship an amazing buyer expertise in a WFH surroundings. In addition to its technological capabilities, the firm’s robust company tradition facilitated the transfer to WFH – at BDSwiss, staff are trusted to ship an expert degree of service, whether or not working in the workplace or remotely.
By adjusting its management method to higher information staff via the disaster, BDSwiss maintained a clear and worldwide communication channel with all its groups, offering clear directions and tips. It has motivated groups by giving assurances of help all through the disaster and providing step-by-step plans to work collaboratively and handle the challenges introduced when working at residence.
Notably, BDSwiss additionally safeguarded all of its staff’ jobs – no person was furloughed or made redundant. In truth, the business welcomed new staff all through the disaster, and continues to achieve this. It additionally carried out frequent assessments, suggestions periods and worker evaluations to guarantee excessive employees productiveness and efficiency.
Innovation and growth
In instances of disaster, a buyer’s expertise of an organization dramatically impacts their sense of belief and loyalty in the direction of it. When it comes to on-line foreign exchange and CFD buying and selling companies, purchasers rightly anticipate the similar platform responsiveness, high quality circumstances, pricing, execution velocity and help. Addressing purchasers’ issues, BDSwiss continued to present an distinctive degree of service, totally operational platforms and buyer help. At the similar time, the firm delivered clear and useful cross-channel shopper communications by way of electronic mail, social posts, firm newsletters and updates. In a pre-emptive effort to counteract potential cyberthreats, BDSwiss additional strengthened its cybersecurity controls, taking all needed precautions and informing purchasers of how most desirable to maintain their accounts safe.
While COVID-19 has had a devastating influence on worldwide monetary markets, it has additionally inadvertently created alternatives via market volatility, encouraging extra folks to make investments. As a outcome, some monetary companies companies have confronted an surprising inflow of new purchasers. To onboard them successfully with out interrupting or impeding operations – and to deal with the sudden improve in buying and selling volumes and buyer help enquiries – best-in-class brokers comparable to BDSwiss have had to make essential funding choices and allocate new funds for server capability, onboarding procedures and employees sources.
The firm not solely invested in higher server infrastructure, but in addition upped its growth and innovation efforts, enhancing its purchasers’ expertise even throughout the pandemic. Compromising buyer expertise was by no means an possibility. BDSwiss noticed elevated demand and acted quick, investing in extra servers, hiring new expertise and dealing relentlessly to refine its merchandise and platforms.
BDSwiss’ dedication to increasing its companies was on present throughout its seventh annual kick-off assembly, which was held in late February earlier than many lockdowns had been put in place. During the occasion, administration shared key metrics and achievements from the earlier yr, together with the opening of 5 new workplaces and the doubling of BDSwiss’ worldwide workforce to handle the sizeable inflow of new merchants.
Monitoring prospects’ altering preferences in actual time has enabled BDSwiss to pivot intelligently and adapt to new market circumstances
Even contemplating the disruption brought on by the COVID-19 pandemic, the firm’s multistep course of for worldwide growth continues to stand it in good stead. BDSwiss stays dedicated to investing in worker coaching, interdepartmental communication and operational excellence, and believes remaining true to these values will convey extra success in 2020.
Leading the discipline
Working intently and intelligently with companions has been one other very important part of BDSwiss’ profitable response to COVID-19. Its associates have additionally had to cope with rising shopper volumes, amplifying the want for brand new advertising and marketing supplies and novel methods of partaking with audiences. BDSwiss was fast to handle its companions’ wants, engaged on new methods to talk with prospects via localised on-line promotions, schooling and help.
Introducing brokers (IBs) confronted a totally totally different set of challenges that demanded a extra proactive method. Given that IBs historically undertake an offline business mannequin, the strict lockdown measures pressured them to set up new communication channels with their audiences. BDSwiss’ business improvement managers labored intently with IBs, serving to them to discover methods of protecting in contact with purchasers. They launched rewards on high of their present payouts and aligned the firm messaging with their affiliate and IB companions, offering new methods of informing prospects and prospects, together with the use of regional promotions.
As a outcome, the business was in a position to develop its worldwide community of companions and preserve a profitable progress trajectory. Adapting to the operational challenges introduced on by COVID-19 has additionally enabled the firm to mitigate danger and switch issues into constructive change. For instance, BDSwiss managed to reply successfully to the surge in demand for on-line buying and selling companies by investing in the needed infrastructure.
Monitoring prospects’ altering preferences in actual time has enabled BDSwiss to pivot intelligently and adapt to new and unsure market circumstances. In gentle of excessive volatility, extra individuals are eager to capitalise on important worth traits via on-line CFD buying and selling, because it affords fast and quick access to monetary markets. This, in flip, calls for extra brokers to present high quality help, a wonderful person expertise and aggressive circumstances. It’s why BDSwiss has continued to make investments in its buyer expertise, progress and innovation. During this horrible disaster, the firm has been extremely proud of all its staff for his or her wonderful efforts. Throughout all of it, the business has managed to do extra, not much less, and stays dedicated to delivering worth for all its prospects and stakeholders.