Sbi Cards

SBI Cards

Mr Yashwant Goel was appointed the new ASM of the Kolkata territory for SBI cards. Kolkata already had 2 ASMs managing the sales in the city.

SBI cards operated under the SSP system (Sales Service Provider), wherein instead of using direct sales agencies they tied up with entrepreneurs as channel partners who provided them with infrastructure and manpower in return for a retainer fee.

An ASM headed each SSP and was responsible and accountable for the performance and productivity of the SSP.

Kolkata had two SSPs running by the name of Ivangel and Capricon. Ivangel was the oldest of its SSPs, which started out in 1999 since the inception of the company and commencement of operations in the city. Currently Ivangel contributed the lions share in the number of cards sold per month with was almost 55%. It had the largest share of sales force under it with 45 SEs (Sales Executives).

Capricorn was incepted in August 2001 and had been consistently increasing it numbers both in terms of FOS (Fleet on Street) and number of cards sold. At present it contributed to almost 30% of the number of cards sold in Kolkata whereas the strength of its FOS was 23. The other contributors in the sales pie were from other channels like branch sales (from the Bank’s branches) the Internet, the Helpline and existing customer base through various sales promotion schemes.

The company SBI Cards was a joint venture between GE Capital and SBI whose only business was selling credit cards. The other players in the market were all banks who didn’t have dearth of funds to invest and pump into another of its product line extension. SBI Cards on the other hand, though belonging to cash rich parent companies had to depend for its own funds which is why all its marketing, sales and operational activities had been at a frugal scale and it was known to be a highly cost conscious organisation.

As has been the case with other organisations’ geographical source of revenue...