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Finance, Technology & Recruitment

Change Management – Fortune 500 Recruiter

Background

  • We have worked with a Fortune 500 recruiter, one of the largest in the world. Their global
    success team looks to shape and sustain contracts across many geographies.

Deliverable

  • We were asked to facilitate a diagnostic of operational processes, coach 21 staff in change skills and launch change projects.

Activities

  • We facilitated an operational diagnostic for the end-to-end process of managing global clients.
  • We ran several workshops using a ‘Learning by Doing’ methodology to help the team identify new opportunities and leverage capabilities in change.
  • We provided 1-1 coaching to the individuals supporting them in expanding their thinking.

Specific Benefits

  • Our work ignited cross-cutting themes around boarding processes for global clients and alignment of local and global contracts.

Business Process Innovation – Investment Bank

Background

  • We worked with a well-known and fast-growing investment bank in Sri Lanka to help them improve their operational processes

Deliverable

  • We were asked to facilitate a diagnostic of operational processes, train 15 staff in Lean based continuous improvement and launch 4 projects

Activities

  • We facilitated an operational diagnostic for the end to end process of Fund Management. Including interviewing staff, reviewing data and carrying out analysis from our cloud-based insight too
  • We worked with the client team to identify substantial opportunities to improve valuation errors, duplicated activities, root cause for system bugs and cross functional capability
  • We ran a 3-day training/workshop event using a ‘Learning by Doing’ methodology
  • We worked with the client to launch 4 projects using the ‘A3’ lean approach, which was fully completed within 4 months

Specific Benefits

  • The organisation leveraged our intervention to create an internal business process improvement team. This will act as a foundation for continuous improvement in process and IT improvements

Business Process Innovation – Life Insurance Business

Background

  • We worked with a well known life insurance organisation in Sri Lanka to help ignite their transformational change programme

Deliverable

  • We were asked to facilitate a diagnostics of operational processes, train 18 staff in lean and to identify a road map for a 2 year transformational plan for the business

Activities

  • We facilitated an operational diagnostics for the end to end process of new quotations and proposals, covering all stakeholders (customer, agent, branch and underwriting)
  • We identified substantial opportunities to improve turn around time, reduce rework, improve value to the customer as well as automate parts of process
  • We ran a 5 day training event using a ‘Learning by Doing’ methodology
  • We launched 7 projects to make improvements using the ‘A3’ lean approach
  • We created a transformational plan for change over 2 years with the leadership team, focusing on 24 specific interventions

Specific Benefits

  • The organisation extensively launched ‘Day Starts’, a method of daily continuous improvement to ‘fix today’s problems today’
  • The organisation is on track to reduce 10-25% in rework for key operational processes, with subsequent cost reductions
  • The organisation’s customers will benefit from an improved experience in two specific areas of administrative process

Business Process Innovation – Finance Business

Background

  • Kinetik Solutions was engaged to deliver work for a subsidiary of a well known and fast growing  ‘super brand’ in Sri Lanka.  The client primarily runs a vehicle and motorcycle leasing business in a competitive but fast growing market

Deliverable

  • Our goal was to create a 3-year roadmap for change in the organisation while transferring Lean based methodology to the senior managers of the organisation including the CEO and help the client innovate a part of the leasing process identifying opportunities

Activities

  • We worked directly with the CEO and a senior director to carry out a diagnostic of the operations of the business and run a 1-day workshop on the roadmap for change
  • We carried out data analysis and stakeholder interviews across the core lease process, to identify key bottlenecks and opportunities
  • We designed and delivered a four-day process improvement event to 25 senior staff in the organisation, transferring Lean knowledge with 15 tailored modules of training and structuring projects
  • We helped identify and support 7 projects (for new lease process) which consisted of looking at demand variation, cycle time, customer complaints, standardisation of documentation

Specific Benefits

  • The client reduced cycle time for new leases by 50% (for specific districts), reduced serious complaints by over 60%, reduced amount of documentation for new leases by 30%, reduced registration of vehicle time by over 50% and ensured that all 100% of leases (was at 92%) had relevant insurance
  • The client had integrated it’s technology/Lean Rollout, put in process measures for key processes and is on track to enhance its reputation significantly

Igniting Process Improvement – Retail Bank

Background

  • The Bank is one of Sri Lanka’s fastest growing licensed commercial banks, offering a multitude of solutions across Sri Lanka’s consumer, SME, corporate and institutional markets. Lean based Operational Excellence has become one of the five core pillars of strategy in 2014, with executive commitment

Deliverable

  • Training of around 100 core staff in operational excellence skills over 3 years
  • Launch of a self sustainable Green Belt Programme based on learning by doing
  • Helping the organisation in developing a change roadmap

Activities

  • Launch of operational improvement projects in new account opening and inventory management of consumables.
  • Data analysis & focused stakeholder meetings as part of insight work
  • Intensive engagement with the Leadership Team to demonstrate the power of Operational Transformation and leadership required for success

Specific Benefits

  • 20M rupees within first 12 months, with another at least 100M rupees validated savings accounted for 2017
  • In its 2017 annual report the Bank stated “Ongoing focus on automating processes, lean initiatives and productivity improvements have borne fruit and the Group’s cost-to-income ratio improved to 52% from 56%”
  • 14 days to 8 hours for new account process. 70% defects in new account data entry reduced to 0%, by cellular working

Business Process Innovation – Finance Business

Background

  • Kinetik Solutions was hired to deliver work for one of the fastest growing and innovative banks in Sri Lanka. It has a strategic plan on driving growth using digital innovation and process excellence

Deliverable

  • We trained 18 people in over 20 Lean tools and launched 5 Lean based projects that would enable the client to deliver process excellence

Activities

  • We worked directly with the COO and her team to plan a highly tailored event specifically for the bank, choosing modules and an approach which suited the client
  • We carried out stakeholder interviews, review of current operational data and the creation of a model process for the training
  • We conducted an intensive 5 day training event for 18 people, with clear buy in from senior directors of the organisation who came to the ‘report out’ on the last day

Specific Benefits

  • The client has started to use the newly trained Lean Champions to improve return on assets
  • Our training was one of the prime enablers of a clear strategic plan and helped to identify clear goals to grow revenue
  • We helped identify 5 change projects, which could yield up to a 10% reduction in cost. This rework also improved the quality of the product and related service

Business Process Improvement – Global Outsourcer

Background

  • Kinetik Solutions was hired to deliver work for a Fortune 500 outsourcer in more than 125 countries with a turnover of over $10B. As part of the company’s core strategy Kinetik Solutions was taken on to deliver Business Process Innovation (BPI) across its whole non-US business units

Deliverable

  • Our goal was to create sustainable change across the organisation by supporting its rollout strategy and coaching over 200 change leaders across the globe

Activities

  • We worked directly with the Vice President and Senior Director to set out the roadmap of strategy, including detailed options and opportunities
  • We carried out operational data analysis to better understand the core areas of process improvement and set out a path for timing of interventions
  • We designed and delivered tailored training and coaching across 9 of the company’s core countries (in multiple languages), including: Brazil, Australia, and China

Specific Benefits

  • The client delivered $8.5M within 2 years, with a payback of only a year. The cost improvement and cultural change has continued in year 3 and beyond, with bottom line results surpassing expectation

Find out more about Kinetik Solution’s organisational values