A financial services client approached us to complete an urgent diagnostic review and redesign of their core revenue-producing products. We worked with their financial planning team over a period of just 7 weeks to achieve truly dramatic improvements in performance using the Six Sigma DMAIC method.
Extended customer wait times and limited client on-boarding capacity were creating poor customer experience, leading to lower than industry sales conversion rates, flight of customers to other providers, and high cost of customer acquisition.
End-of-year requirements and market opportunities created urgency to have highly-practical, compliant, and sustainable solutions deployed in minimum elapsed time.
Key Aspects of Process2Customer's collaboration with the client
Rapid engagement with stakeholders across the business including operations, front-line, compliance, finance and IT.
Conducted a DMAIC project on the financial planning process
Conducted manual data collection including DILO (day in the life)
Collected and analysed data sets from different systems
Constructed a staff capacity and forecasting tool
Fishbone and 5 Whys root cause analysis workshop
Highly-facilitated and focused Lean Kaizen solution workshops
The new process was capable of reducing process times by 30% and increasing conversion rates by 5%.
This created additional capacity to convert an additional 750 clients per month (or 4.4 days effort saved per resource, per month)
Client: Financial Services
Problem: Poor customer service and limited on-boarding capacity
30% Reduction in Processing Time
5% Increase in Conversion Rate
Additional 750 clients per month
4.4 days effort saved per resource, per month
Process2Customer combines a unique set of team performance and process excellence skills to help you create a 'plan to win'. We provide low-cost / high-impact services to really get your leadership team and staff team performing.
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