Trust

Without trust, you can’t create value.

In the Transformative Age, with more data changing hands and more technology used in decision-making, trust is more important than ever. It’s trust that enables organizations to create value and capital markets to function properly.

With richer insights from deeper data analysis, you can look at risk afresh. You can make smarter choices, from what you should mitigate to what you can embrace. With trust comes the confidence to make bolder strategic moves. It’s trust that will help you seize the upside of disruption.

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The better the question. The better the answer. The better the world works.

How building trust is crucial for business transformation

We worked with Usha International to help them revamp their DNA and transform into a modern organization.

The better the question. The better the answer. The better the world works.

Is trust your most important deliverable?

True transformation requires trust.

Usha International (UIL), one of India’s best recognized brands of home appliances, hired us to help management revamp their business model and build out best-in-class practices across its value chain.

But our Advisory business transformation team knew that to transform the 70-year-old behemoth into a modern organization, they needed to build lasting relationships with the UIL team.

So they asked: “Is trust our most important deliverable?”

The better the question. The better the answer. The better the world works.

Close collaboration

Making trust the whole-hearted driver of wholesale change.

In order to transform UIL, the Advisory teams in EY member firm offices in Mumbai and Delhi had to earn the trust of the Distributor, CEO and employees of UIL. The EY team worked closely with UIL’s management and employees to help them understand changing market dynamics and co-design their new strategy and process backbone. They also helped bring about a company-wide consensus and enthusiasm to drive the strategy shift.

The success of the three-month pilot program led to a request from the client to reconfigure the approach of each individual business unit. And, the work the EY team did in the distribution arm of UIL’s business had a big impact. UIL had traditionally sold their products to wholesalers, who would then distribute the products to individual retailers in remote areas. EY and the UIL sales team instead went directly to these rural retailers to understand their expectations, constraints and needs, and developed an inexpensive and efficient system to help retail stores get the products that their customers did not have access to before.

The business started to turn the corner as a result of these changes, from a loss-making business to industry-leading growth in recent years.

The better the question. The better the answer. The better the world works.

Trusted and profitable growth

Trust ultimately helps to drive growth and innovation.

Not only did the EY team transform UIL’s value chain, they also enabled the path for future profitable growth and built a high level of trust with people at all levels of the company. EY is now part of the CEO’s “think-tank” and he consults them on all critical aspects of the business.

Beyond the numbers, the impact of these changes is visible in the greater reach of Usha’s products, reaching down to small villages that were earlier being accessed through urban wholesalers.

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