SUCCESS STORIES

Trade Services Business Rationalization

"We must reduce our operating costs and improve client retention"

- SVP Operations processing

SUCCESS STORIES

Increasingly high processing costs had caused the client to lose nearly 4% of its market share to lower priced competitors. In order to regain its competitive position, the client needed to significantly reduce its operating costs and improve customer service.

LOBUE RECOMMENDATIONS

  • Centralized the trade services operations from 14 branches into one center. This significantly reduced the high premises costs and operational expenses associated with having multiple locations.
  • Streamlined and standardized operational processes and procedures by identifying and implementing over 50 recommendations.
  • Improved customer service significantly by:
    • Establishing priority trade services for high revenue customers.
    • Creating an extended late shift to process more transactions.
    • Centralizing staff in one location to better support and standardize product delivery.
  • Implemented MIS measurements to enhance control of operations.

REAL RESULTS

Implementation of the recommendations resulted in sustainable annual cost savings of $21.5 million and a 33% increase in productivity. The project was acclaimed in a regional publication and won the Chairman’s Award for best project of the year.

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