KPIMinds was set up to work with back offices to optimize efficiency and reduce operational costs, improving profit margins of ‘revenue-generating’ departments. We recognize that benchmarks between firms don’t fully reflect differing corporate objectives and infrastructure; thus we focus our activities upon improving relative performance. The back office often picks up the mistakes of other departments, and we see part of our role is to help articulate these issues and improve the operational efficiency of the firm.
Operational Collaboration as a Service (OCaaS):
KPIMinds’ unique algorithm exposes parts of the operational infrastructure where additional effort or delays in processing are found while articulating these in cost terms within easy-to-digest reports and dashboards. Coupled with this, we produce a series of recommendations, whether these relate to front office booking processes, an optimized workflow, training or threshold reporting, for consideration, and time-based trends analysis.
We are data-driven, using the output from your systems as inputs to our analytics engine. We can cater for all major vendor packages as well as those that are developed internally. And as we see the symptoms and then the causes, we ensure our messages are simple and clear to enable us to work together with you to come up with improvements. And finally, our sophisticated algorithm places a cost value on effort spent, which can be used to place a financial benefit for investment into the operational infrastructure.
How It Works:
We keep things simple. We have extensive software and banking experience and recognize the need for our software to be light-touch and external to the organization. All we ask is that – once a month – you populate the predefined structure using existing audit logs from your transaction processing systems. We perform all the data cleansing, aggregation, and calculations, ensuring minimum IT commitment on your part.
Using our proprietary software, we prepare a detailed report of our findings, which we cover with you, allowing a practical dialogue highlighting real issues relating to actual transactions. Together we agree upon a remedial plan and track its implementation. And over time, through monitoring trends and continually updating our findings and activities, your operational costs will reduce.
If reducing bank's costs is your focus, please do not hesitate to connect with us to discuss how KPIMinds can help you achieve your cost reductions.