Billmonitor has teamed up with the Oxford Consulting Initiative (OCI) to give six students from Oxford University who are interested in consulting the opportunity to work on real business solutions for existing challenges.
The team, which has been tasked with creating and implementing a fresh marketing approach for the corporate market, began work with Billmonitor in November, and are due to begin implementing their bespoke solution in early 2018.
The OCI selected to work with Billmonitor due the company’s interesting application of mathematics to solve complex problems for consumers and businesses. The consultancy forms part of the Oxford Student Foundation, which consists of six autonomous initiatives that provide students with experience in six different career areas.
According to Tom Fabes, Managing Director of OCI, by working on the project the students get three things:
- Client exposure: It is unusual for students and even graduates to get any client exposure. In this way, we hope to build the OCI team members' confidence and employability.
- Strategic experience: The students get to experience a strategy consulting project from start to finish, including scoping the work, carrying out the work, and then presenting their findings. This gives them an insight into whether consulting is for them, as well as giving them some experience to draw upon in later life.
- Team work: Finally, the students get the chance to work with a diverse team of people whom they do not know. This helps to build on their interpersonal and team working skills.
In turn, Billmonitor is given the opportunity to engage with and draw inspiration from some of the country’s brightest students as they take their first steps into business consultancy.
Of the new endeavour with OCI, Billmonitor Managing Director Klaus Henke says:
One of the key benefits of working with a team of students is their ability to think outside the box without being hindered by the day to day business, developing tailor-made strategies for specific segments. And, being asked to implement their solution will allow them to see if their ideas actually work in a real-life situation.