JUNE 2019 UPDATE:
Process Enhancements & Data Analytics
Sheena Wedderburn-Reid AVP Digital Transformation
DIGITAL TRANSFORMATION:
THE JOURNEY TO DIGITAL MASTERY
Hi Team! We shared with you the vision and aspiration for the VM Digital Transformation Journey at the 2019 Business Conference. Since then, the team has been busy executing on the initiatives of the digital roadmap. Here are a few highlights on how we have been doing to enhance our processes and with the utilisation of data within the organisation, using our collaboration tools on the O365 platform. You may recall that the 2018 winner of Innovation Award – Department went to Group HR (pictured above).
to digitally approve and store general ledger and maintenance journals processed by the Accounting and Support Unit. The previous standard required the printing, signing and retention of the journals upheld in physical paper form. A successful journal has at least three sheets of printed paper and is physically signed six times by authorised officers. The system was built using the O365 platform and hosted on SharePoint allowing quick reporting and visibility across team members. This platform has now been deployed to the Insurance Unit and other key capabilities will soon be rolled out to other key units.
They have been able to transform several of their processes using the O365 tools of SharePoint, Planner and Flow. They have been able to make the following processes digital using the O365 platform: »» »» »» »»
Training Registration Training Evaluation Online Platform for the Provision of Training Materials Interview Evaluations
The unit has great plans to further digitalise processes such as the Overtimes Claims System in very short order. Other departments such as the Accounting and Support Unit (ASU) have also been reaping significant benefits from the Posting Management System. The system was built
Digital Transformation Officer (centre), Anika Crawford with the ASU team
Client Requests Manager VMWM Client Services - Deployed This system was built to track requests received from VMWM Clients currently being utilised by Client Services and Wealth Operations team. The requests are broken into tasks required to
complete the transaction at each stage. Communication of receipt, completion and an attached survey is sent to the clients allowing for the tracking of the NPS Score and running sentiment analysis on the responses to identify critical responses. Reports are also gathered from the data captured from the system.
Similar capabilities are to be extended to the Insurance unit, in other units of the VM Wealth team Other key processes digitalised include: »» Team Member Requests – Requests for IT Services »» VM Pensions Document Repository »» VM Pensions Automation of Delivery of Pensions Statements »» VM Wealth Trader’s Lime - Registration »» Innovation Portal And there are many more in the pipeline, so stay tuned! Our Digital Strategy includes the roll-out of cutting-edge Business Intelligence tools that put data and analytics about the performance of our business at your fingertips. Even most recently at the AGM our president was able to give real, live feedback on data gathered on the attendees at the AGM. Amazing, right? For 2019 the Business Intelligence team has been undertaking initiatives aimed at improving
the analytics capabilities of the VM Group. The team has been working assiduously on a set of dashboards that will add value in analysing some of the work we are doing within the branch network, specifically in the Teller and CSR spaces. These initiatives include the creation of dashboards and analytics to assist our teams in monitoring the Key Performance Indicators (KPIs) and metrics that drive the business. The Branch Activity Data dashboards are specifically related to: 1. Loans Monitoring: An analysis of the loan disbursement and tracking process across all branches of the Group 2. Teller Activity: An Analysis of the number and type of transactions done in the branch network 3. CSR Analysis: An analysis of the customer experience with our CSRs with respect to the time spent in our locations for various activities 4. Onboarding Analysis: An analysis of our team’s interaction with the onboarding solution
LOAN MONITORING DASHBOARD
The loan monitoring dashboard provides an overview of the loan business. While previous loan dashboards had maintained a focus on mortgage disbursements, the new loan dashboard provides additional monitoring capabilities for the complete loan portfolio such as:
Disbursements for other loan types such as auto loans, unsecured loans and cash secured loans »» Loan portfolio growth over time »» Loan payment and payoff tracking »» Sales officer analysis with respect to loan disbursements »»
TELLER ACTIVITY DASHBOARD
The Teller Activity dashboard provides branch teams with the ability to analyse teller activity as it relates to transactions being processed in branch. With this tool, branch leaders can evaluate previous activity and make informed decisions about the deployment of team members in service of our Members. Analytics include: »»
Number of transactions processed by individual tellers and branches over time
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Number and types of transactions being processed in branch over time
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What if analysis (what if each teller was processing at an average of a certain number of transactions daily?)
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Various branch and teller comparative metrics
CSR ACTIVITY DASHBOARD The CSR activity dashboard provides a detailed analysis of the activities of the Customer Service Representatives (CSRs) across the VMBS branch network as they serve the members. It provides several analytics which include: »» »» »» »»
How long our members are waiting to be seen or served in our branches Types and volumes of activity that CSRs are responding to The ratios of CSRs to customers and customer transactions by location Wait time and service time comparisons
COMPLAINTS DASHBOARD
The Complaints dashboard provides in-depth analysis of the complaints received across several VM Group entities. It provides quick overviews of our members priority concerns and pain points while allowing for quick drill downs into the details of individual member complaints. The dashboard provides analysis by: »»
Location (local or overseas)
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Adherence to service level agreements (SLAs) with our members
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Resolution status
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Service delivery channels
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Complaint categories
ONBOARDING
PERFORMANCE DASHBOARD
The Onboarding Performance dashboard provides our teams with targeted evaluation of our member onboarding processes within the branch network. With this tool our teams can analyze the onboarding process along various dimensions. The analytics on the dashboard include: »» Average time to onboard by location and CSR »» Processing speed analysis by case complexity »» Processing speed trends over time »» CSR and Branch leaderboards
IN THE PIPELINE Several initiatives are currently underway to provide increased visibility on various aspects of the business at various levels. Key processes for which the analytics capabilities are currently being enhanced include: »»
Fee collection and management
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Transaction migration to electronic channels
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Balanced scorecard automation
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Foreign exchange transactions
We are just at the tip of the iceberg, team! We have accomplished a great deal so far, and we have much further to go on our digital transformation journey. We will keep you updated as we make advancements on our goal of becoming a digital master, and a radically transformed Modern Mutual by 2023.