One of the world’s top ten largest banks by market capitalization.
Continue delivering exceptional service while reducing operating costs within the customer service center.
- Identified first year cost savings in excess of $1,000,000; 14% direct labor savings (against 205 agents)
- Developed an 18-week project plan and savings schedule with guaranteed first year ROI of 3.5:1
As one of the world’s premier financial institutions, this multi-national bank with 40 million customers in more than 50 countries was constantly balancing operating costs, service quality, customer satisfaction and shareholder approval. As part of a continuous improvement initiative, the consultants at Major Oak were retained to conduct a comprehensive Operational Analysis of the cardholder service center, which handled 30,000 calls weekly by 200+ agents.
In two weeks, a team of consultants at Major Oak conducted a comprehensive 15-point operational assessment of the service center. Areas of focus included: organizational design, management discipline, management behavior, interval level management, capacity utilization, call handling best practices, time management, performance management, process evaluation and the company’s centralized service delivery model. During the Analysis, our team interviewed 41 supervisors and managers, conducted more than 300 side-by-side observations and analyzed data from dozens of management reports in order to highlight our client’s most critical improvement opportunities. Fifteen significant opportunities were identified, representing a savings opportunity exceeding $1 million. During the Analysis, our team developed a statement of work, an 18-week project timeline and a robust savings schedule that guaranteed a 3.5:1 ROI within the first year. The savings was tied to employee productivity gains, process improvements and improved management discipline. The Operational Analysis led to a Performance Management Project led by Major Oak consultants. During this PM Project, all of the opportunities identified during the Analysis were fully implemented, generating first year hard dollar savings of $1,175,000.
The Major Oak Difference:
Using our proven methodology, Major Oak’s consultants led the center through a two-week discovery process, pinpointing and quantifying specific improvement opportunities. Our team worked alongside senior leadership to develop a statement of work and project schedule, enabling our team to fully implement all of the improvements identified during the Analysis, thus achieving the cost savings guaranteed. Major Oak has a passion for adding value and an enthusiasm for helping our clients.