Expanding Our Programs with the help of NxtStep

How Compass Working Capital saved tens of thousands of dollars and moved much faster at bringing their successful programs to a much wider audience with NxtStep.

Industry: Nonprofit – Financial Services

Location: Boston, MA

Focus: Low income families

Specialties: Saving and Asset Building

Company Bio:
Compass Working Capital provides incentive-based savings and financial coaching programs that empower working, low-income families to build assets, achieve their financial goals, and become financially secure. Our broader vision is to build a leading, nonprofit financial services organization that promotes economic mobility and financial security for working poor families by influencing field-related practice and policy.

Overview

Compass Working Capital had helped empower numerous families with their respective financial challenges, but they needed to reach a wider audience so they could help more people. They tried exploring software and technology solutions on their own, but struggled to gain real traction.

When Compass Working Capital decided they wanted their great programs to reach a wider audience they hired NxtStep to help.

Sean and NxtStep helped make our products awesome so we could start bringing value to our clients faster and more cost effectively than we even thought possible.

George Reuter
Director of Learning and Knowledge Management, Compass Working Capital

Quantifiable Results

$100K+

 Budget Saved

3+ Months

 Time Saved

3 Weeks

 Product Time to Market

The Challenge

Compass Working Capital had a great program, but they lacked the product expertise to leverage software and technology to scale their program to reach a wider audience. Markita, their Chief Strategy Officer, knew software and technology could help solve their problem, but she also knew they needed the help to do it properly.

The Approach

Over the course of 6 months working with Compass Working Capital, we’ve helped manage or build 3 different products to help the team improve their reach with clients and the company’s operational efficiency.

Each product has its own unique requirements that we’ve uncovered through a series of interviews with the Compass clients and team members to uncover the biggest challenges that need to be solved by the respective Compass products.

With our help, Compass was able to bring new products to market much faster and more cost effectively. We were able to save the Compass team months in delays and development efforts and tens of thousands of dollars in budget. All while bringing effective products to market for their clients and team members.

The Solution

NxtStep has provided Compass Working Capital with full-service product strategy and operation support, taking care of everything they might need to ensure their products achieve the goals necessary to further the incredible mission of their empowering organization.

This enables the Compass team to focus on strengthening their team and developing even more outstanding programs to help their clients with their respective financial challenges.

Since working with NxtStep, we’ve been able to take products from idea to the hands of our customers in weeks, not months. We work with plenty of clients, but armed with the products that NxtStep helped us build, we have now we can reach an audience that is a multiple of the number of people we were previously able to help.

We are now enrolling people into our program faster than ever and much more prepared to scale.

Besides the obvious results, it has been a pleasure to work with Sean and his team at NxtStep. They bring tons of valuable knowledge to our team and always share it when necessary so we can not only advance our mission, but further our own education about the process.

George Reuter
Director of Learning and Knowledge Management

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