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Global Outsourcing Solutions Provider
Global BPO Operations
CEO / Division President
BPO / Transaction Processing Operations, Contact / Call Center Operations, Technology
A business process outsourcing firm providing direct to Consumer and Business- related contact center and back-office processing solutions for major global brands needed to re-structure its organization and rationalize its processes, with the objective of developing a “best- in-class” operating model across its global outsourcing network.
LoBue conducted a comprehensive analysis, redesign, and implementation initiative for the organization, covering operations consisting of over 3,000 management and staff across eight facilities in the United States, Canada, and India.
The initiative resulted in direct savings of over $10 million in annual operating costs for the organization. In addition the program yielded the following key achievements across the business globally.
Delivery Model Enhancement
Organizational Alignment and Staffing Enhancements
Performance Measurement and Management
Technology Infrastructure Evaluation and Implementation
U.S. Office of a European-based Bank
International Trade Services
Vice President and Manager, Transaction Processing
Trade Finance Operations
The Client needed to increase operating efficiency, improve MIS controls and develop a contingency (disaster recovery) plan for its Documentary Credit Processing Unit. Key goals were to eliminate paper document processing and increase workflow capacity. Additionally, the Client wanted to undertake the implementation of new technology that would include document imaging and control.
Implementation of the new system, based on revised process flows, expanded the Trade Finance Unit's processing capacity by 30% and reduced direct operating expense by 27%. In addition, the quality and timeliness improvements led to a 20% year on year increase in trade revenues.
Newly Merged Money Center Bank
Global Asset Management and Private Bank
Executive Vice President
Trust Services, Investment Services, Client Management
The merger of two Global Banks required the integration of the respective Investment & Private Banking divisions. Significant differences in client focus, sales programs, systems and operations existed at the time of the merger. The "Street" committed savings from the merger strategy required the integration of the Investment & Private Banking Divisions to reduce direct expenses by $80 million.
Twelve months into the merger there was no progress on the integration. As a result LoBue Group was engaged to resolve issues and achieve the committed integration goals.
All Investment & Private Bank processes and operations were redesigned and a new management system was established. Client segmentation resolved differences in Product vs Client sales processes and improved Product Management results. Best practices were implemented across the organization and best of available systems in use were chosen and redundant systems eliminated. The field sales network was redesigned, eliminating redundant facilities and personnel. At the conclusion of the 16 month program a direct cost savings in excess of $110 Million was achieved.
Large US Bank
Wealth Management, Customer Contact Center, Trust Services, Investments
A merger between two large U.S. Banks had taken place. As part of this merger, the Client had to consolidate the two Wealth Management functions at an annual cost savings of $80 million. The two entities employed about 3,100 professionals and the merger had to be completed within 16 months. The lack of organization was causing serious service issues across all products and processes.
LoBue had recommended a total re-examination of all customer facing and operational activities, to re-engineer all processes and develop a combined organization structure to yield the targeted cost reduction while improving the service provided to its wealthiest customers.
The Relationship Manger role was designed to focus on meaningful customer interaction and operational activities were stripped away.
A focus was placed on improving the processes in operations in order to reduce operational errors at the root of service issues. At the same time, the capabilities of the dedicated customer care center were expanded to quickly handle service requests and improve first time resolution on inquiries.
The organizational consolidation was achieved in 12 months, with an approximate annual savings of $110 million while the staff requirements were reduced by 512 FTE (full time equivalent).
Approximately 600 processes were re-engineered or eliminated and service standards were improved.
First call resolution in the Contact Center improved from 76% to 89%.
Relationship Managers were relieved from non-customer related activities, allowing for a more efficient account loading.
By the end of the program, (sixteen months), the single Wealth Management Organization was fully operational with measurable improvement in client satisfaction.
Large Credit Rating Firm
Credit Information Services and Contact Center
Credit Activities data base, Credit Information Services, Credit Rating Services
One of the largest U.S. based credit information services firm managed a consumer credit activity data base consisting of 400 million client folders which included in excess of 6 billion records of credit activities. The firm received 20 million plus inquiries and disputed information activity per year. LoBue Associates was engaged to recommend programs to reduce the electronic data load and to minimize the incoming call volume.
The cleaner client data and the lower call volume significantly reduced the firm’s legal exposure and the potential litigation cost.
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