Case Study: Improve turnaround time and eliminate duplication of effort A large financial services company had a substantial backlog with processing their incoming business. The company was creating a new automated system to assist them with their processing. However, the system would not be available for 2 years and their backlogs were getting worse. They asked to provide them with interim solutions until their system was implemented. evaluated the processes of all the departments within the incoming business division, including multiple work shifts. Time studies were performed on the existing work effort and the inefficiencies identified. Numerous processes were created to streamline their existing workflow, including eliminating unnecessary steps. Examples of these included: Two steps were eliminated in one department that created a savings of 1½ staff resources. Since the department was already understaffed, these resources were utilized to improve their turnaround time. A centralized distribution center was established to manage and maintain all work within the division. This allowed staff and management to better assess their work effort, eliminating the need for someone to do daily counts for management reports. Controls and standards were established, eliminating audit exposures. A new form was created that eliminated the duplication of effort within a department. Contact us at Questions@aldridgekerr.com for more information on how we can assist you with improving your turnaround time.
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