Project Details
Context
The Client is a multinational financial services company and a leading provider of long term savings and investments to around 6 million customers worldwide for nearly 200 years. Increased competition caused by market deregulation means that shorter lead times, cost efficiency and improved customer responsiveness have become critical.
Efficiency Improvement
Lead Time Reduction
Total Annualised Savings of Over €1,000,000
Return On Investment After One Year12:1
- Clients: Multinational Financial Services
- Solution:Lean & Six Sigma Training, data input redesign, process optimisation, standardisation and streamlining
- Date:2018
- Sector:Finance
Objectives and Scope
- A full review of the existing systems and processes with clear and specific improvement recommendations
- Process flow maps which reflect the changes to be implemented within the company to enhance operational efficiency
- A value stream map reflecting how information will be input and flow
- Development of document templates, including customer input forms
- Tools to monitor KPIs arising from the Lean Process so that continual improvement can be driven after the conclusion of the project
Tecknic's Role
- Project management, planning and communication
- Lean process improvement in associated service transactions
- Reduce processing time and improve transaction accuracy
- Manage all stakeholder relationships
- Current state value stream map development
- Future state value stream map development with stakeholder engagement
- Risk management
Achievements
- Improved understanding of business by entire team
- Identification and minimisation of poor quality inputs to the system
- Understanding of Work volume patterns for optimal resource scheduling
- Streamlining of approval process to remove duplicate/redundant steps
- Standardisation of company training procedures and methods
- Development of Document templates, including customer input forms
- Top class Change & Programme management throughout the entire process.
- Employee development
- Development, management and hand over of a sustainable Continuous Improvement Programme