Business Development

Business Development

Business Development

Business development is about pursuing opportunities so as to attain long-term growth from markets, customers, and relationships. Focusing on ways to develop business is necessary to increase the profits of a company by attracting new customers and also by increasing the spending of existing customers.

Issue

The service delivery process of a leading IT service company was not well defined. Additionally, not having an effective knowledge management system further had a negative impact on the overall delivery of the services to the customer. This resulted in,
  • Low customer satisfaction scores.
  • Risk of losing the customer.
  • Revenue loss.

Solution

We developed a strategy making the customer experience the core focus area. The plan focused on improving operational efficiency through process improvement initiatives, enhancing team capabilities, implementing a knowledge management system, and a robust operating model. This resulted in consistently meeting the SLA and improving the customer service and experience.

Result

The strategy helped retain the customer and increased their annual spending. Annual revenue increased by US$ 500K, improved customer satisfaction scores from 3.5 to 6.0.
0 K
Annual revenue increased
0 %
Improved customer satisfaction scores
strategic-plan-2

Strategic Plan

Strategic Plan

Strategic planning is important to an organization because it provides purpose, direction and outlines measurable goals. The plan enables organizations to set priorities, and to focus on resources and energy to achieve and maintain an organization’s competitive advantage.

Issue

The existing strategic plan of the client was created for the fiscal year 2015 through 2017. To stay competitive in the market, a long-term strategic plan was required to meet the need of customers and build organizational capabilities.

Solution

We developed a customized strategic planning process that included strategic visioning, reviewing organization health through SWOT analysis, developed new strategies, focused discussion ensuring consensus and to capture key success factors and identifying metrics to measure organizational performance.

Result

The strategic planning process helped the customer to create a core framework and direction in designing its future establishing realistic goals and objectives consistent with organizational mission. The growth and operational strategies identified enabled the customer to develop a clear path to keep pace with changing client needs, funding and have a sustainable competitive advantage.

robot-hand-2

Automation

Automation

Managing data is crucial for any organization as accurate data enables effective decision making and keeps their business floating with a competitive market.

Issue

A leading hi-tech company’s master data management process involved high manual intervention for data entry in SAP, which led to,
  • Delay in turnaround time.
  • Risk of SLA breach due to low output quality.
  • Increase in customer escalations.

Solution

In order to simplify the complex process, a detailed study was done to understand and evaluate the existing process. The root cause and complexities in the process were identified. We came up with a solution to develop an automated tool to address this issue. This tool eliminated manual data entry into SAP enabling fast processing of transactions, eliminated errors, decreased operational costs, and significantly increased productivity and efficiency.

Result

The result of this new solution was a more efficient workflow with a 60% shorter turnaround time, a 20% increase in productivity, a 6% reduction in operational costs, and US$ 55k annual savings.
0 %
Shorter Turnaround Time
0 %
Increase In Productivity
0 %
Reduction In Operational Costs
US$ 0 K
Annual Savings
Map lying on wooden table

Operations

Operations

Operations is one of the major functions and is vital to the success of every organization irrespective of the size and sector. A strong operations management enables an organization to effectively and efficiently utilize the resources (people, process & technology) to provide quality products/services and successfully deliver it to the customers. A well planned and robust operations is necessary to achieve the goals and objectives in the strategic plan.

Issue

An IT service company had challenges to drive seamless operations within the technical support team due to poorly defined processes, inadequate knowledge management systems, knowledge gaps within the team, untimely sending of progress updates to the customers and lack of coordination between the onsite and offsite team members. This led to having an adverse impact on business operations due to the delay in restoring normal operations in time resulting in increased customer escalations and high risk of SLA (Service Level Agreement) breach.

Solution

The objective was to improve customer experience and create value for the customer. To address the issue, the focus was to develop and execute strategies to build an efficient processes, a robust knowledge management system, training to fix the knowledge gaps, implement a communication process to ensure timely progress update to all the customers impacted and effective collaboration between the onsite and offsite team. A detailed process mapping was done to identify loopholes and bottlenecks affecting the result. Revised process flow was designed to eliminate the risks and to fulfill the needs of the customers and internal team members.
  • A training program was developed and conducted to fix the knowledge gaps among the team members.
  • An effective knowledge management system was implemented to promote knowledge sharing and faster resolution of the requests.
  • Automated tools were implemented to eliminate the inefficiencies and further enhance the process.
  • A systematic workflow plan and communication channel were implemented to balance the workload and effective collaboration within the onsite/offsite team members.
  • KPI’s (Key Performance Indicators) were identified and a reporting dashboard was created to measure performance.
  • Automated reports were created to keep track of pending requests (critical/non-critical) for timely processing of the requests.
  • A BCP (Business Continuity Plan) was implemented to ensure the availability of continued operations.

Result

Implementation of robust operational controls helped in consistently meeting the SLA’s and enhanced customer experience. Achieved a 40% reduction in turnaround time. Improved transaction quality to 100% with process automation. 43% reduction in critical requests. Reduced customer escalation by 15% and improved customer satisfaction.
0 %
Reduction in turnaround time
0 %
Improved transaction quality
0 %
Reduction in critical requests
0 %
Reduced customer escalation
Blog-Operational Excellence

Why Operational Excellence is important?

"Speed is everything. It is the indispensable ingredients to competitiveness."

Jack Welch

 

Today the business landscape is altering at a very fast pace. Growing and sustaining a business has become difficult due to changing customer needs and competition. This is the age of the customer- customer service and customer experience can make or break a business. Organizations must have an effective and efficient operation to gain a competitive advantage. Hence, it is imperative that organizations make operational excellence as a key deliverable and align it to their strategic goals, resulting in long term sustainable growth.

 

Seamless operations are vital to keeping up with market demands. Organizations with strong operational capabilities have a direct impact on their overall performance. As per research by Harvard Business Review, organizations that achieve operational excellence saw a 25% faster annual growth rates and 75% higher productivity.

 

Poor operations have a negative impact on overall organizations performance. As per research by Wrike Inc., only 32% of the leaders were very satisfied with their team’s ability to plan, manage, and complete the work. The research also highlights a big concern about the difference of opinion between management and non-management on how well their company’s operations run. Achieving operational excellence continues to be a major challenge for most organizations. As per the BTOES research report, 35.6% of the respondent mentioned executing operational excellence programs as a top critical challenge.

 

Focus on the following areas to build a strong foundation to successfully execute the operational excellence program.

 

Leadership Involvement 

Business leaders should focus on making operational excellence as a culture and a key driver for top-line growth. Operational excellence is an organization-wide change and resistance to change among employees can derail the program. Leaders should proactively communicate and help employees understand the need for operational excellence, to achieve its strategic goals. Leaders should empower employees, and focus on building an environment of trust & transparency to drive collaboration & commitment.

 

People & Processes 

Business leaders focusing on people and processes run high performing organizations. Leaders need to continuously focus on building a cohesive team with versatile skill sets by continuously investing in robust training programs, and strengthening the hiring and on-boarding process. Process excellence is an essential factor to achieve operational excellence. The objective should be to build effective and efficient processes keeping in mind the customer’s need. Leaders at every level should ensure employees recognize the importance of the processes and the value delivered to the customers by adhering to the processes.

 

Governance and Communication 

As per research conducted by Mckinsey & Company, the failure rate of organizational transformation like operational excellence is more than 70%, hence governance is important. Leaders should implement governance in order to effectively manage people and processes. A clearly defined organizational structure, roles & responsibilities, policies, and, procedures will smoothen the journey towards operational excellence. Building a governance framework is the first step, however, if not clearly communicated and understood by the employees, the risk of the program failing is high. Effective and consistent communication will ensure employees follow the guidelines, reinforce collaboration, and work towards a common goal of achieving operational excellence.

 

Measuring performance 

If you can’t measure it, you can’t improve it – Peter Drucker. Organizations that do not measure performance fail to operate effectively and efficiently. Business leaders should implement robust performance management systems to track progress and achieve superior results. The goals of the operational excellence program should be defined in terms of metrics to evaluate performance periodically. It is equally important to regularly communicate the progress with the employees to keep them focused and engaged.

 

Operational excellence is the key to gain a competitive advantage and continuous business growth. It helps organizations to add continuous value to the customers and boost organizational flexibility to stay competitive in the market.

demo-attachment-128-Intersection-6

Get your free guide on "improving business process."

    Customer-Review

    How important is customer retention?

    "Profit in business comes from repeat customers, customers that boast about your product and service, and that bring friends with them."

    W. Edwards Deming

     

    Today the world of business has become fiercely competitive. Organizations are continuously looking to differentiate themselves to gain competitive advantage and increase their market share. In this race to increase the customer base, organizations are focusing more on sales and marketing activities. However, a sale is just the beginning and not the end. What the customer experiences throughout the delivery process are important. The on-boarding experience, product/service experience, fulfilling value contract, customer success, and delight are critical factors that will have a positive or negative impact on the customer retention rate.

     

    Providing great customer experience and value is important for customer retention and growing the business. Customer experience is an important competitive advantage to drive sales and increase revenue. It is predicted that in 2020, customer experience will surpass price and products as the primary brand differentiator. Customers today have plenty of options to choose from to meet their demands. A single poor experience is enough for customers to decide to look for alternate options. As per research,

     

    • 32% of all customers would stop doing business with a brand they loved after one bad experience. (PWC)
    • 42% of respondents have left a business due to poor customer service. (New Voice Media)
    • A customer is 4 times more likely to defect to a competitor if the problem is service-related than price- or product-related. (Bain & Company)

     

    “Customer is King”, an age-old business mantra is about understanding the importance of customers and providing exceptional service to the customers. Every organization should implement plans to deliver superior customer service and experience. Additionally, focus on delivering extraordinary value to the customers. More the value the customers get, the less is the risk of churn percentage. As per statistics,

     

    • Brands with superior customer experience bring in 7 times more revenue than competitors that lag in customer experience.
    • Customer-centric companies are 60% more profitable than companies that don’t focus on customers.

     

    As per Bain & Company, the cost of acquiring a new customer is 6-7 times more than retaining an existing one. Organizations investing in customer retention have benefited immensely and successfully grown their business. It is a no-brainer that customer retention is a key revenue driver that cannot be ignored by organizations. As per research,

     

    • Increasing customer retention by just 5% boosts profits by 25% to 95%. Harvard Business school
    • The probability of selling to an existing customer is 60%-70%. The probability of selling to a new prospect is 5%-20%. Marketing Metrics
    • 65% of a company’s business comes from existing customers. Customer Service Institute

     

    Most often, organizations are so focused on acquiring new customers that they fail to effectively fulfill the needs of existing customers. Focusing only to acquire new customers and not investing in customer retention will only increase the customer churn rate and can lead to the downfall of any organization. Investing in customer retention should be an integral part of organizational strategy to have a greater impact on the top-line & bottom-line revenue. Leaders should become the catalyst for change in implementing systems, procedures, and processes that lead to customer retention.

     

    The simplest way to increase your customer base is not to lose them. Here are 5 ways to improve customer retention.

     

    Expectations – It all begins with setting realistic expectations with the customer. It is important to know your limits. Winning a customer by over-committing on the deliverables will only lead to double trouble. Doing so will create tremendous pressure on the team to meet the deliverables, leading to an unpleasant environment within the organization. Situations like these lead to customer dissatisfaction due to poor quality of the product/service or unable to deliver as promised. Hence, it is imperative that organizations have a clear understanding of their capabilities and capacity. This will help in setting clear and realistic expectations with the customers and avoid any impact on service delivery.

     

    Relationship – According to Marketingwizdom, the average business loses around 20% of its customers annually simply by failing to attend customer relationships. The process of building a relationship starts at the very beginning of the sales process. The objective here should be to create a positive first impression. The next step is to gain the confidence and trust of the customers by consistently delivering quality products and services as promised. Continue to strengthen the trust factor by collaborating and engaging regularly to show them that you care, build connections, and strengthen the relationship. Above all, it is important to understand your customer value. Always listen to what the customer is saying or asking for and change your strategy to meet their expectations.

     

    Value – Understanding customers is the first step to consistently be successful in adding value to your customers. Knowing customers in-and-out enables organizations to enhance the customer journey and experience. Focus on the quality of the product or service that is exceptionally better than the competitors. Quality of the product or service is a critical element that the customer perceives. Invest in enhancing the product or service that benefits the customer to improve their organization’s performance. Go all-out and implement a robust process to provide superior customer service to resolve customer issues. In today’s fast-changing marketplace, organizations are focusing on improving customer service to gain a competitive advantage. Consistently keep a tab on the customer needs by soliciting their feedback and use the information to continue to add value to the customer. The key to adding value is to always consider the customer’s perspective and focus on customer needs.

     

    Experience – Customer expectations are skyrocketing, and they expect the best experience every time. As per statistics, customers that rate organizations with high customer experience score spend 140% more and remain loyal for up to 6 years. Hence it is imperative to develop a customer experience strategy that is customer-focused and communicated clearly within the organization. Providing an unforgettable and positive experience is essential to build a brand reputation and gain more business. Take customer feedback on every interaction. These inputs are critical to identifying gaps and building a robust customer-facing team. Make effective use of tools and technologies to increase efficiency and customer engagement. Another key element is to create an emotional connect and create a bond.

     

    Track – It is important to keep track of key metrics to measure performance for customer experience and retention to know if all the investments in people, process & technology are paying off. Without monitoring the metrics, there is no scope of improvement. Use metrics viz. NPS (Net promoter Score), CSAT (Customer Satisfaction Score), and CES (Customer Effort Score) to track customer experience. Some of the key metrics to track customer retention are viz. customer churn rate, retention rate, average customer life, revenue churn rate. Additionally, track metrics to gauge operational performance that influences the customer experience.

     

    Irrespective of the industry, your customers are the most valuable stakeholders. It is essential to invest in building a sustainable long-term relationship with the customer. Customer service and experience without any doubt are the key factors to retain customers. Hence, it is important for organizations to make customer satisfaction as part of their strategy and constantly improve business operations to have higher customer retention.

    demo-attachment-128-Intersection-6

    Get your free guide on "improving business process."

      business-meeting-over-coffee-scaled

      Five essential steps to improve organizational capability

      "The high-mature organizational capability is the digital business differentiator, to keep the business unique, competitive, innovative, and improve the overall business maturity significantly."

      Pearl Zhu

       

      Every organization or business has these goals in common; scale performance, make sales, and exceed customers’ satisfaction. This, however, is not an easy process as it requires leading and managing effective teams that ensure the overall outstanding performance of an organization. The outbreak of Covid-19 and more unpredictable global trends will continue to reshape and introduce new trends to the workplace, especially in the business sector. It, however, becomes imperative for business leaders and key team members to build resilience and improve organizational capability.

      Here are five essential steps business leaders can adopt to improve their organizational capability.

      1: Invest in digital transformation

      In order to stay competitive and relevant in the industry, organizations need to prioritize digital transformation, as the world will continue to evolve with new technological trends designed to transform businesses. Gaining insight into the emerging technology trends like Artificial intelligence, machine learning, cloud computing among several others will set the pace for transformation and help organizations derive lasting exponential growth. By investing in these technological trends, workplace productivity will be effortlessly achieved.

      Findings from the 2020 Digital Transformation survey by Deloitte LLP revealed that organizations that invest in digital transformation were three times more likely to achieve revenue growth. This, however, is not surprising given the increase in artificial intelligence and other recent technology trends.

      Therefore, investing in digital transformation should be one of every organization’s top priorities.

      2: Robust Operations

      In achieving improved organizational capability and productivity business owners and key team members need to put in place an effective and efficient operation process.

      It is important to invest in having a strong business operational strategy to make organizations more adaptive. Organizations that invest in having strong business operations are more likely to make better use of automation technology to increase their efficiency and overall performance, which allows seamless and effortless delivery of products and services, as it makes organizations to prioritize customer service and satisfaction.

      Also, a robust business operation enables organizations to sustain and compete in the ever-changing business climate. While having a robust business operation is important, effective communication plays an indispensable role in the overall performance of these business strategies. Dawn Brown, a Forbes Business Council Member, reinforced the importance of communication noting that, effectively communicating the vision and idea of new business operations and processes to the employees at all levels in the organization, goes a long in determining the attitude and inputs of employees in achieving the proposed business operations and processes.

      3: Learning and Development

      Training and developing the skills and competence of employees at all levels in an organization is another effective strategy to improve organizational capability and competence. While it is important to hire the best talents, it is also imperative to train employees in an organization.

      To achieve organizational goals and objectives, employees must be trained and developed throughout their stay in the organization. For this to be achieved, business owners and top leaders need to prioritize learning and development as it an indispensable strategy in achieving organizational growth.

      Findings from a survey by the go2HR society indicate that 40% of employees leave their jobs or position within the first year as a result of poor training opportunities. Prioritizing learning, training, and development is vital in achieving organizational growth and productivity as trained employees are more efficient.

       4: People management

      In the past few months, leading and managing highly effective teams have been challenging, as the new trend of working remotely has placed a new burden on business leaders and human resource managers on both small scale and big scale businesses.

      Ensuring effective people management is crucial in optimizing employee’s performance and productivity, as it involves creating a positive work environment and prioritizing the health, social, and mental wellness of employees in the workplace. This, however, goes a long way in improving organizational capability.

      Peter Drucker, a profound thought leader in modern management, made it known that 60% of an organization’s issues stem from faulty communication or poor people management.  Prioritizing employees’ opinions ensures transparency and also gives the employees a sense of belonging in the organization as they will feel seen, heard, appreciated, and highly valued.

      5: Prioritize Sound Decision-Making

      Every organization’s success, performance, and growth thrive squarely on the daily decisions employees at all levels make, and what makes the difference is how sound and strategic those decisions are. Every organization should develop a sound decision-making ability in their employees because having good judgment and the skill to convert this into profound decision-making are imperative in achieving organizational growth. To improve organizational capability and productivity business leaders should ensure that sound decisions are made at all levels of the organization, especially among key team members.

      According to a recent study by the Harvard Business Review, 87% of organizations affirmed that their companies will achieve more success if frontline workers are empowered to make quality on-the-spot decisions. Findings from this study further reinforce the importance of making sound decisions across all levels in an organization.

      Final Thoughts:

      It is essential for organizations to consistently focus to improve their capability. Doing so will immensely help to improve performance and build resilience in this ever-changing global market.   

      demo-attachment-128-Intersection-6

      Get your free guide on "improving business process."

        Unique2

        Five effective ways to differentiate your business

        "In order to be irreplaceable one must always be different."

        Coco Chanel

         

        The business industry is a very competitive ecosystem to survive and be productive. However, organizations can effectively make an impact and build a reputation in a competitive marketplace by reinforcing strategic objectives that promote their business uniqueness. While creating and sustaining uniqueness is crucial in determining success, organizations tend to struggle with crafting strategies that will reinforce their uniqueness in the industry.

        Every leader’s goal in any industry is to be regarded as one of the best. This common drive makes the environment very intense as organizations are constantly improving their infrastructures to effectively compete and scale performance. In the process of competing with top organizations, effective differentiation is one of the main challenges most organizations face.

        Here are five effective ways organizations can adopt to create and sustain business uniqueness in a very competitive environment.

        1) Focus on WHY:

        It is very easy to lose sight of the significance of why an organization exists, given the hectic and demanding nature of running a business. While keeping track of the spreadsheet and improving revenue is important, understanding why a business exists is of greater importance. This is so because it is the “Why” that helps create a strong unique value proposition that powers business uniqueness and performance.

        Findings from a survey on over 12,000 employees conducted by an engagement and performance firm Energy Project, revealed that 50% of its respondents felt their work lacked meaning and significance. This implies that clearly defining a ‘why’ also determines employees’ attitude to work. Also, findings from the study further reinforce why leaders need to define their “Why” and communicate them to their members of staff, to sustain uniqueness in the competitive environment.

        2) Build Brand Reputation

        Brand reputation plays an indispensable role in determining the overall success of any organization. Building a brand reputation is a crucial aspect of creating and sustaining business uniqueness, as a good reputation will further strengthen the organization’s performance against competitors.

        Organizations should build a strong brand reputation by sustaining brand consistency, in the product and services they offer to their customers. Organizations can also build their brand’s reputation by being an expert in their industry and sustain a good relationship with customers by ensuring customer satisfaction and loyalty remain their leading priorities.

        Nothing gives an organization a profound reputation amongst their competitors than gaining the confidence and loyalty of customers in the products and services they offer.

        3) Deliver extraordinary customer service and experience

        An effective way of sustaining business uniqueness whether it’s a small or a large enterprise is to provide exceptional customer service and experience. For any organization to stand out and yet be productive, it must make customer service and experience it’s leading priority.

        Prioritizing customer service and experience in an organization does not happen overnight, but if effectively implemented in an organization, it brings about delivering a very unique customer experience and in the long run build brand loyalty, trust, credibility, and most importantly establish brand’s or organization’s uniqueness.

        According to the survey done by PWC 73% of the people pointed out that customer experience is an important factor to make their purchasing decisions. Findings from the American Express survey revealed that 58% of customers will spend more with companies that provide excellent customer service.

        Organizations should offer one-of-a-kind customer service and experience by first identifying the need(s) of the customers, fulfilling them, addressing their pain points, and consistently providing value. This goes a long way to build a trustworthy relationship with customers. Organizations should perceive customer service and experience not just as a department, but as an attitude.

        4) Deliver fast and high-quality products/services.

        In a competitive environment reinforcing an organization’s uniqueness is very crucial, as it can forge a deeper connection with customers and improve brand and business credibility in the marketplace.

        Delivering high-quality products/services is important to create and provide value to customers. It is one of the most important tasks and plays a significant role in customer satisfaction and retention. According to a survey by Deloitte, 71% of people look for high-quality products when buying. Another survey by Yes Marketing found that 57% of Gen Z directly linked quality to brand loyalty. While delivering high-quality products is important, on-time delivery of products is also important in creating and sustaining business uniqueness. As per a recent study, 61% of people are willing to pay more for same-day delivery. Hence, organizations should prioritize and implement an efficient delivery system and deliver high-quality products/services to stand out from the competition.

        5) Be Innovative

        Whether an organization is into delivering products or offering services, being innovative is essential in creating and sustaining business uniqueness. By being innovative, organizations should continuously seek ways to innovate their products and services to suit customers’ needs and further drive innovative changes within the business industry.

        Findings from McKinsey research revealed that over 70% of top executives affirmed that innovation is one of the top three drivers of organizational uniqueness that help organizations to achieve strategic objectives. Organizations should also avoid a rigid business structure that will resist innovation and changes in the products and services the organization offers. An innovation-driven organization has more chances of succeeding and exceeding the organization’s performance and productivity.

        Final Thoughts

        The business environment can be a difficult ecosystem to thrive and compete effectively. Fortunately, organizations can optimize their performance by leveraging on the strengths of their uniqueness and effectively stand out in the marketplace. Therefore, leaders should design strategies to strengthen their business uniqueness and at the same time improve the organization’s capability and performance.

        demo-attachment-128-Intersection-6

        Get your free guide on "improving business process."

          manufacturing

          Process Improvement

          Process Improvement

          One of the key elements of the sales process is the quoting process. It is critical to prepare a quote in time and with accurate information to create a positive first impression among the customers. A streamlined quoting process enables organizations to quickly turnaround a quote that is accurate and easy to understand. Having a systematic quoting process further increases the opportunity to win more business with new or existing customers.

          Issue

          An aviation manufacturing company’s quoting process was complex and time-consuming. Quality of the quotes especially errors in product pricing was another challenge. Complexity and inefficiencies in the process had an impact on the turnaround time for generating the quote. The average time required to send a quote to the customer was 3 days, which lead to dissatisfaction among the existing customers and increased the risk of losing new business opportunities.

          Solution

          The objective was to implement a process that is efficient, accurate and fast. A process mapping was done to identify waste/inefficiencies in the quoting process. A centralized product & pricing catalog database was created for quick access to accurate product and pricing information to prepare the cost estimate. RFQ (Request for quotation) tracker was created to keep track of all the pending RFQ’s with the due date and the progress to ensure timely response to the customers. Eliminated pricing errors by creating customer-based quote templates with an automatic calculation. Additionally, a database to track customer purchase history was created to keep track of the purchase trend and for upsell opportunity by recommending an increase in order size while creating quotes.

          Result

          The solution implemented streamlined the quoting process resulting in an efficient quoting system. Reduced the turnaround time to send the quotation to the customer from 3 days to 1 day with 100% accuracy and increased the team capacity to process 20% additional quote volume.
          0 %
          Accuracy
          0 %
          Increased team capacity
          IT-consultant-2

          Standardization

          Standardization

          Process standardization is key to reduce variations and bring consistency in the process performance. It gives the organization a baseline to measure performance and enables the team to execute work efficiently with high quality.

          Issue

          An IT firm’s global process in the order management domain was redundant and different across regions, leading to an in-effective and in-efficient process and impacting service delivery to the global sales team.

          Solution

          Developed a framework to define the strategy and approach to standardize the process. Incorporated existing process documents, organizational goals and objectives and the impact of the inefficient process on key operational metrics. Additionally, a comprehensive study through process mapping was done to understand the global process and variations within each region, inputs from subject matter experts to develop a baseline. Breaking down the approach into phases helped to stay focused and accomplish standardization of the process resulting in enhanced operational efficiency.

          Result

          Standardization helped in having 20% shorter cycle time, a 15% reduction in errors, a 30% increase in productivity, organization capability to increase transaction volumes by 25% without any additional staff and annual savings of US$ 27K.
          0 %
          Shorter cycle time
          0 %
          Reduction in errors
          0 %
          Increase in productivity
          0 %
          Increase transaction volumes
          US$ 0 K
          Annual savings