F500 Financial Services Provider Saves $4.2 Million with Skan

  • IndustryFinancial Services
  • Company Size 5,000+
  • Revenue $9B+
  • Location United States

Our Client

This Fortune 500 company, a leader in the retail financial advice market, supports more than 21,000 financial advisors. They provide them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. 



The client wanted to develop a deeper understanding of processes, operational inefficiencies, and cost-reduction opportunities through end-to-end process mapping. The goal was to discover process variants, calculate unit cost of processing, discover insights around Turnaround Time (TAT), and optimize workforce capacity through process improvement.

Cost Saving

identified from ~10% improvement in workforce capacity utilization.

Process Optimization

in savings identified from Process Intelligence insights.



In a matter of weeks, Skan’s platform was able to deliver insights into: 

●    End-to-end process mapping 
●    Workforce capacity utilization and productivity metrics
●    Variance analysis and process standardization
●    Root-cause patterns for rework loops
●    Application usage and automation discovery 

This operational data quickly generated improvement recommendations for workforce utilization. The customer gleaned an unparalleled look into their operations. They identified areas rife with non-process work and identified where too much downtime plummeted productivity.

Through this knowledge, they made key changes, like moving top-performing operators over to specific processes and revising SLA/OLAs on the same-day processing of wire transfers. Insights also provided the data they needed to rationalize adding multiple operators to upstream processes because they could clearly see how these changes led to improvements in downstream wait times.



Skan's insights identified $4.2M in savings, which included:

●    $2.2M in savings from ~10% improvement in workforce capacity utilization 
●    $1.8M in savings from Process intelligence insights
●    $0.2M in savings from a 30% improvement in processes through automation

The platform didn’t stop there. Skan's automation intelligence also identified ~30 new automation opportunities with a high degree of value and low degree of implementation risk. 

“We want our programs to generate measurable impact for internal and external stakeholders--the employees and advisers our technology and systems support. Skan is helping us achieve positive outcomes by quickly discovering our users’ interactions with our processes and systems and giving us an invaluable source of truth.” ​

SVP, Technology & Transformation

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