example of Impact - STRATEGY, DIGITAL & INNOVATION
Reimagining a global in-house centerdetails
Client background and situation:
Company had created a "global in-house center" that housed shared services and operational teams
Company had created a "global in-house center" that housed shared services and operational teams
Center was not meeting expectations and received negative feedback from clients and internal complaints
Center was not meeting expectations and received negative feedback from clients and internal complaints
Risk of losing some client revenues and inviting regulatory scrutiny/fines
Risk of losing some client revenues and inviting regulatory scrutiny/fines
Needed to urgently transform it into a center of high value that is integrated with the home office and not seen as a second class citizen
Needed to urgently transform it into a center of high value that is integrated with the home office and not seen as a second class citizen
THe past
Prior approach & challenges:
Creation of center was done rapidly and without empowering teams
High turnover, low morale and inefficient processes
Cultural issues with a lack of trust between home office and in-house center leadership
Creation of center was done rapidly and without empowering teams
High turnover, low morale and inefficient processes
Cultural issues with a lack of trust between home office and in-house center leadership
solutions
Coppertree Partners approach:
conducted diagnostic and identified key issues
Documented current state for the core processes of the business such as client onboarding and mapped process steps along customer journey. This revealed key issues: people were working in silos (steps 1 & 2 of 5 step process without knowing end-to-end), work was being done that was unnecessary or redundant with similar teams (could eliminate or consolidate) and work was being done manually with limited technology
led innovative new future state design
Eliminated siloed teams and handoffs and implemented technology to free up people for higher valued tasks and needs like building up analytics capabilities. Reused activity wherever possible (such as authentication and document scanning) and used robotic process automation for standardized tasks and optical character recognition to lift text from PDF attachments and into systems
designed complete change management program
Educated staff on why changes were being made and addressed concerns – this included putting in place cross-training programs, improving internal mobility process and appointing digital champions and change agents
enhanced management reporting and KPI’S
Improved progress tracking and highlighted issues for quicker resolution
Impact:
- $50M in savings and higher client and employee satisfaction
- $10-$15M increased revenues through speedier client onboarding process
- Sped up the process with dramatically reduced cycle times while building quality into the process
Additional insights and takeaways
It was easier here to redesign a customer journey from scratch than incrementally improve suboptimal processes. This can be challenging as the current structure might be tough to dislodge and you face resistance from leaders who fear the personal implications from greater use of technology & automation. Data was key – showing that the current state was unacceptable and not sustainable long term. Using benchmarks and examples from other organizations was useful as competitors were racing to improve their processes.
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