This Fortune 500 company, a leader in the retail financial advice market, supports more than 21,000 financial advisors. The client provides them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices.
The client's analysis revealed considerable volatility in the process, which contributed to service level agreement (SLA) violations. There was inadequate transparency into case volumes and types from various subscribers, resulting in ineffective resource allocation. Moreover, limited visibility into operations metrics such as wait times and cycle times restricted the impact of training initiatives. Enhancing process visibility and aligning operations and training could improve results.
Skan AI generated actionable insights on critical issues affecting service levels. By pinpointing SOP breaches that led to unacceptable turnaround times, Skan AI paved the way for systems improvements to better enforce SLAs. Diving into the data, Skan AI uncovered patterns of switching between participants that correlated with longer turnaround times (TAT), and subscriber segments and case types dragging down admin support performance.
Armed with these insights, Skan AI conducted multi-month trend analysis to track the impact of process changes. Skan AI's unit cost analysis identified opportunities for process optimization. Through meticulous analysis and a solutions mindset, Skan AI empowered the team with the information needed to enhance operational efficiency.
With insights from Skan AI, turnaround times (TAT) improved remarkably by eliminating process bottlenecks. Skan AI conducted a thorough unit-cost analysis, providing a clear picture of the average cost-per-case for each subscriber and participant. This has allowed the client to allocate resources more strategically. With comprehensive media events tracking, the client was able to quantify the impact of collaboration and training. By identifying and eliminating bottlenecks, optimizing costs, and capturing key activities, Skan AI helped the client work smarter and more efficiently.