The Client’s Financial Services organization is a wholly-owned subsidiary exclusively focused on leasing its equipment to customers.
Challenge + Opportunity
The Client had an urgent need to better understand their current end-to-end core processes, and ultimately, implement sustainable improvements that would deliver an enhanced customer experience while positively impacting business performance and profitability. In order to deal with anticipated growth and organizational changes the business also needed to have access to current and credible process documentation.
TayganPoint used a proven multi-faceted approach: People, Process, and Technology.
People: This highly collaborative approach focused heavily on the Risk Associate, the primary consumer of processes and systems being examined during this project After extensive desk-to-desk interviews, the TayganPoint team gained a deep appreciation for the tasks as well as barriers to success that these individuals faced on a daily basis. Open relationships were formed as associates sensed TayganPoint’s genuine desire to help improve the processes they relied on to satisfy their customers.
Process: Detailed mapping of the current state (>900 steps) allowed the TayganPoint team to partner with the Client’s subject matter experts across the organization (SME’s) to isolate and then eliminate unnecessary components in re-engineered leasing transaction workflows.
Systems: Performance data was captured and analyzed, and measurement gaps were identified. Recommendations were made for technology updates and modest functionality enhancements which would have significant impacts on the ability to analyze and measure key work flow elements.
The project culminated in a series of facilitated meetings where senior management reviewed and refined the process recommendations, setting the stage for moving forward with implementation.
Approach + Solution
- TayganPoint delivered a set of strategic, associate-centric, corporately-aligned recommendations the Client could readily implement; something they had been unable to do previously.
- The key deliverable was a detailed process map containing over 900 steps. An estimated 30% of these steps were categorized as “value-added” activities. Two thirds of the steps were slated for elimination, creating large scale efficiencies and positioning the organization to easily accommodate growth.
- TayganPoint delivered a predictive model for aligning staff with highly variable work volumes. As the Client made the required system modifications to capture the data drivers, the tool became fully operational.
TayganPoint is a management consulting firm focused on dynamic business transformation. Aligning people, process, culture and technology, they combine deep experience in strategy alignment, process improvement, change management and program management with extensive industry knowledge in Life Science, Financial Services, Healthcare and Energy. TayganPoint delivers high value operations solutions that improve performance, delivering measurable and sustainable results to clients. Learn more at www.tayganpoint.com.
Download a pdf of the Full Case Study here.
Like what you read? Follow us on LinkedIn or Twitter for even more great content and ideas for how you can make strategy happen.