Volvo 2014 Annual Report Download - page 27

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A GLOBAL GROUP 2014 STRATEGY STRATEGY FOR THE PERIOD OF 2013–2015
Strong relationships, integrated offerings, increased opportuni-
ties for growth, a culture built around high performing employees,
and profi tability remain cornerstones in the VFS Strategy for
theperiod 2013–2015. Many positive steps were taken towards
achievement of VFS’ strategic and fi nancial objectives in 2014,
according to President Scott Rafkin.
During the year VFS captured additional profi table growth
opportunities by strengthening its customer and dealer relation-
ships, service levels, and growing market shares. VFS also
expanded its reach in Eastern Europe during the year and is well
underway to provide a full range of fi nancial services in India during
2015. Higher levels of operational excellence were achieved in
2014, primarily as a result of further standardization of core busi-
ness processes, stronger integration of point-of-sale capabilities
and a keen focus on cost control. As a result, VFS achieved better
levels of operational effi ciency and corresponding profi tability.
VFS adds value to the Volvo Group by supporting Group sales
while also managing risk and achieving fi nancial targets. After two
years of the strategic period, VFS is on target to meet its strategic
and fi nancial objectives. Many more opportunities exist for VFS to
maximize its full potential in support of Volvo Group sales. Cus-
tomer value and ease of doing business are at the heart of such
initiatives and will continue to shape VFS’ activities throughout
the strategic period.
Volvo Financial Services
Volvo Financial Services’ focus areas
• Strengthen customer and dealer partnerships throughout
product lifecycle.
• Capture profi table growth opportunities.
• Drive operational excellence in support of effi cient customer
solutions.
• Attract, develop and retain high-performing employees.
• Optimize shareholder return on equity.
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