SEP - Insights
In our experience a key reason for process under performance is the lack of performance measures, including industry benchmarks and best practices. SEPSM diagnoses value-leaking process gaps and makes relevant recommendations to plug these leakages. It also unearths key business insights through sophisticated process data analysis and decades of process experience which then enable a business to compare its processes to industry benchmarks. These insights we provide to clients, along with our deep execution expertise including change management, can deliver differentiated outcomes to out-compete others.
Some of the industry benchmarks are mentioned below:
An insurance provider can release up to 50% of claim handler capacity & reduce overall settlement cycle time by 40% by enhancing claims segmentation and the adjudication process
- Customer Service
A 30% reduction in call volumes can be achieved through analytics of customer calling behavior, effective usage of IVR & improving first time resolution.
- Order to Cash
By cutting down on spoilage, pricing errors, fines and fuel surcharges by 50% to 75%, a $5 Billion CPG company can increase its annual earnings by $15-$20 Million.
- Commercial Lending
A commercial lending organization can eliminate about 1/3rd of early stage delinquencies through focused early stage collections and eliminate administrative delinquencies by reducing booking, billing and cash errors.
For a typical $40-50 Billion in asset credit card issuer, analytics around agent measurement systems and customized training plans can impact losses by US$100 Million.
Genpact, its logo and “SEP” are service marks of Genpact Limited.