Digitisation/ automation of end of month reporting workflows
- Client sector: Financial Services
- Client sub sector: Banking (retail, commercial, investment)
- Summary results of the Lean Ireland engagement: 58% reduction in report processing time from 60 hours to 25hours monthly. €40K annual labour hours saved.
Problem statement
The monthly financial reconciliation process is manual, time consuming, not detailed enough and at times miss deadlines. This manual process requires investigation & explanation for any variances that occur between 6 separate datasets supplied by 3 teams. This results in delays, overtime, and occasional missed monthly deadlines.
Objective
To simplify and error proof the the end on month reporting.
Lean Ireland consulting/training work
This project was completed by certified lean six sigma green belt (CLSSGB) candidates who undertook a customised in-house online training programme facilitated by Lean Ireland. The training involved interactive webinars, academic assignments and team-based project work within the organisation. The project team was mentored at regular intervals by a Lean Ireland black belt certified consultant. Certification was achieved by completing the two academic assignments, and presenting to a certification review board comprising organisation managers, certified green belts and the Lean Ireland black belt assessor.
Detailed results of the client work
The project team standardised data base templates and report formats across teams. They eliminated manual SQL queries, reduced the movement of data between different systems and automated the process of identifying exceptions.
Consulting/training nature of engagement
Certified lean six sigma training course facilitated by Lean Ireland to ISO 13053-1 standards. Project completed by GB candidates.