Business Process Improvement Study for a Money Management Firm
Business Problem:A fast growing independent provider of money management services, with current assets under advisement of over 2.8 billion, recognized the need to automate and integrate their information systems.
The company was supported by various and disparate information systems and applications. These systems were built or implemented to facilitate specific operational tasks and were never integrated into an enterprise or strategic model.
Consequently, these systems and applications reside as “islands of automation” and do not provide such fundamental benefits as limited data entry points, readily verifiable data and information across the organization, standardized reporting, integrated workflow and processing, etc.
As a result, the systems do not support or enhance their business model and will not allow them to recognize any significant benefits related to improved processing, workflow, and more extensive analysis as the business continues to grow.
The company desired that new processes and systems be developed that would:
- Provide more efficient processing of key business functions (invoicing, commissions, and reporting)
- Deliver accurate and timely access to information for decision-making and business support
- Provide for the electronic capture, distribution and collaboration of all customer specific information
Solution:
RESolutions Consulting conducted a business process improvement study to re-engineer the company’s account management and supporting processes to leverage the company’s investment in its people and systems.
Return on Investment (ROI):
The following is a partial list of the improvements expected as a result of the study and plan:
- Overall quality and corporate performance will be dramatically improved
- Improved capacity to manage additional account without additional head count
- High degree of customer satisfaction
