What do you do when your world becomes larger overnight?
A Fortune 250 company operating in the financial services space recently came to Pariveda with a situation. They acquired a firm that included an operating subsidiary with a network of medical offices, which created an opportunity to consolidate a fragmented industry through additional acquisitions. The client needed a consultant that could help them identify best practices for operational excellence and customer intimacy, particularly as they were about to expand their total number of offices.
Link priorities to best practices & goals
The Pariveda team got to work on a multi-leveled approach to managing the client's corporate strategy. We began with program prioritization, which, through a series of executive workshops with client leadership, allowed for critical initiatives to reveal themselves at a corporate level and regional level to drive improvement. Process assessment was also a priority — using internal best practices and linking these to industry experience helped us to identify common approaches for improving revenue and providing a strong customer experience; no exceptions.
Activity baselining involved an extensive survey of all offices and business functions to provide better insight into how tasks and workflows were being managed. All of this was judged against a KPI scorecard, providing the client's executive team with the ability to track the results of strategic initiatives with improved visibility into overarching operations.
Prioritization provides growth across the board
Pariveda's work allowed the client to leverage internal best practices at a critical time and allowed the company to build on what was already in place and standardize work across all offices. This provided a greater level of flexibility for moving staff between locations while preserving the customer experience, which would be important as the client base continued to grow.
Using this type of activity baselining and a metric-based measurement system allowed the client's staff to free up valuable time from low-value opportunities and focus more directly on high-value tasks, all while helping with revenue growth and margin improvement across the board.