CONSULTANCE ET DÉVELOPPEMENT - ITnation

ineum consulting
Lean Six Sigma
applied to the
Financial Services
Industry : deliver
better, faster
and cheaper
The economic conditions are changing the rules of the
financial game, creating opportunities for those that are able
to manage costly problems, the subsequent uncertainty
and complexity of financial organizations. Even if the key
words “cost cutting” are more than trendy, it has to be
approached in a different strategic way, focusing on “how”
to better manage cost reduction, capital efficiency, customer
satisfaction, flexibility and adaptability.
Financial companies have become more complex and multifaceted
organizations in which services to customers tend to be delivered by
a series of stand alone silos creating an inward focus and preventing
the creation of value for customers.
The concurrent market pressures,
the high impact processes and
many out-of control symptoms are
the main opportunity areas for which
Lean Six Sigma can offer its contribution.
It allows reducing running costs
of financial companies by simplifying
product portfolio, organization
and processes to what is required
by the customer and it also permits
to manage significantly complexity.
The most usual case faced by businesses
is proposing more services
than customers are willing to pay
for it. Simplifying that complexity not
only contributes to eradicate a root
of wasted costs, but can also lead
to an attractive competitive position.
The reduction of complexity needs
to be an operational and strategic
priority for banks who intend to keep
their cost structures in line with their
revenue growth.
Lean Six Sigma helps clients transform
operations and services by
removing waste and driving highquality
business processes through
the integration of confirmed and
proven improvement methodologies :
Lean reduces waste and increases
process speed, Six Sigma improves
performance and quality on critical
customer requirement. Thanks to
the combination of both concepts,
processes become faster (20-70%
improved lead times), better (20-40%
improved services) and cheaper (10-
30% more efficient).
Lean Six Sigma, by achieving operational
speed, quality, cost reduction
and customer satisfaction in the
delivery of products and services, is
definitely a key ingredient to achieve
high performance and sustain competitive
advantage in organizations.
Understanding what services are
valued by customers, assessing the
real cost of providing those services,
designing processes to handle more
variety of value-added services, and
innovating around those services are
the success key factors for operational
excellence.
12 2010