Financial Services Company Radically Reduces Ongoing Operating Expenses From IT Process Re-engineering
Improved Customer Satisfaction Scores from 49% to 91%.
“In addition to improving our order delivery time to massively boost our customer satisfaction scores, Jackyl also delivered a single, referenceable view of all orders end-to-end.” CIO ~ Financial Services
Key takeaways:
- 38% reduction in costs to operate from $7.9M to $4.9M/annum
- 28% improvement in ticket order rejection rates
- Reduction in end-to-end execution lead times from 43 days to 10 days
- Improved efficiency of 70% on straight-through processing
Client:
This client is a leading provider of financial Services within the North American market with over 2,000 branch locations and services large multinationals and SMEs. Our client is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
Industry:
Financial Services
Region
North American presence servicing the needs of client across the globe.
Business Objectives:
- Improve customer experience on order delivery time
- Reduce in order processing and execution time
- Provide a single, referenceable view of all orders end-to-end
Project Goals
- Ensure alignment of relevant functions across the organization
- Maximize straight-through processing
- Radically improve order rejection rates
Results
Reduction In Operation Costs
improvement in Ticket Order Rejection Rates
Improved Efficiency on Straight-Through Processing
Improvement in Customer Satisfaction Scores
Overview of the Project
Providing a positive customer experience of connectivity services to our client’s end customers was an ongoing issue that needed to be addressed. It was not unusual for customers to experience multiple handoffs for a single order and up to a 35% rejection/reassignment rate of submitted tickets. The onus was on the requestor to navigate our client’s organization, and invariably one order generated multiple tickets across various technology groups.
Solution
Jackyl Consulting was engaged by our client to develop the business case to re-engineer their IT processes after conducting its Performance Enhancement Program (PEP). In conducting our audit we discovered where the bottlenecks and potential opportunities existed. It was clear from the outset that no single order view existed thereby creating a fragmented and undesirable outcome. Each of the 7 hand-offs was a manual effort through a ticketing system and at times email exchanges.
The solution involved several steps:
- Optimize by reengineering the processing processes, decreasing the transition steps by 60%.
- Drive the process using automation and achieve straight-through processing on the reengineered process with workflow and provisioning automation.
- Implement a simplified user experience by creating a portal to easily place orders using an online catalogue, track a customer’s order status and delivery times against an ‘expected’ delivery timeline.
Get In Touch
Address
100 King Street W. Suite 5700 Toronto, Ontario M5X 1C7
Business Hours
Monday - Saturday (9am – 5pm)
Jackyl Consulting Partnership specializes in Program Management and Delivery for Infrastructure and Security Enabling Technologies in high intensity, complex, and time sensitive situations. Contact us if you want your IT program back on track or if you are embarking on a Business Transformation journey.