Working Solutions - Work System Analysis

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Presentation delivered March 8, 2012

Working Solutions, located in San Francisco, is a nonprofit organization focused on providing entrepreneurs with an alternative access to financial resources. In addition to capital, Working Solutions assists entrepreneurs with business development, resources, and mentoring.

Our objective was to review an existing work system, consider some issues with it, and make some recommendations. Additionally, we felt this was a worthwhile project because Working Solutions is currently in the process of updating their website.

We recommended that the following three improvements be integrated into the work system: 1) Implementation of marketing campaign; 2) providing loan applicants with the opportunity to complete their eligibility application independent of staff; 3) the option of filling out the application electronically, ideally online. A comprehensive marketing campaign will significantly increase Work Solutions’ presence resulting in an influx of potential loan applicants. Furthermore, removing some of the coordination between staff and applicants around the eligibility process may reduce current intake time. Finally, the option of an electronic loan application will assist in expediting the overall process by allowing loan applicants to complete the application on their own time, possibly mitigating against the amount of “fall-out” currently experienced with traditional hard-copies due to time constraints. Eventually such data, may lead to the development and implementation of an analytics department, or partnership with an MBA program, for quantitative and qualitative insights into the success of the new system.

Our recommendations were extremely well received by Working Solutions and are currently being implemented to streamline the application process while simultaneously increasing efficiency.

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  • Alfred
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  • Cole = First 3 BulletsSara = 3 types of clients
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  • Regan & Sara
  • Working Solutions - Work System Analysis

    1. 1. +MBA 6113Tech Innovation Cole Cannon Alfred Dang Sara Razavi Regan Sweeney
    2. 2. + Executive Summary  Company Background  Current System  4 Recommendations to current system  Marketing Campaign  Multiple Entry Points  Electronic Form  Analytics/Customer Survey  New System  Conclusion
    3. 3. + Company Background  Nonprofit Microfinance  $5,000 - $50,0000 Loans  Viable Alternative  Up to 5 Year Terms  Fixed Interest Rate  Business Development, Advising, Coaching  Genuine Altruism
    4. 4. + Why We Chose WS?  Increase Loan Applicants  Streamline & Expedite Loan Process  WS is Looking for External Suggestions Due to System Upgrade
    5. 5. +
    6. 6. + Current System
    7. 7. + Analysis & Possibilities  Increase Presence, Higher Volume of Loan Applicants  Large “fall-out” Due to Time Constraints  Expedite & Facilitate Application Process  3 Types of Clients:  Organized  Motivated  “Mission client”
    8. 8. + Recommendations  Marketing Campaign  Multiple Entry Points  Electronic Form  Autonomous Eligibility Form  Applicant can Schedule Appointment with Intake Specialist  Soft Copy  Analytics/Customer Survey Department*
    9. 9. + Snapshot of Our Snapshot
    10. 10. + New System
    11. 11. + Internal Performance Gaps Aspect of Source of data Metric (specific measure of Current Goal: performance for calculating performance in this situation) numerical Realistic numerical value value of desired value of metric metric of metric Customer Internal database Average number of potential 180 (3 per 300 (5 per work volume of applications applicants referred per month work day) day) Quality of Internal database Percentage of referred applicants 60% 90% referrals of applications that are loan eligible as explanation understood to partner institutions Efficiency Employee time Average time spend by intake 20-30 minutes 10 minutes system and specialist for eligibility Internal database assessment completion of applications Speed / Internal database Average internal loan application 20 hours 10 hours turnaround time of applications completion time Internal process Internal database Percentage of eligible applicants 50% 85% completion rate of applications submitting an application Primary Internal database Total number of approved loans 7 loans 12 loans objective of applications per quarter success
    12. 12. + External Performance Gaps Aspect of Source of data Metric (specific measure of Current Goal: performance for calculating performance in this situation) numerical Realistic numerical value value of desired value of metric metric of metric Ease of Loan officer Average time required to 20 hours 10 hours completion meeting complete application form by applicants Speed / Internal database Average time from application 14 days 10 days Turnaround completion to submission of loan time summery to loan committee by loan officer Speed / Internal database Average time from start of 4 weeks 3 weeks Turnaround process to loan disbursement time Success rate Internal database Percentage of applicants that 80% 95% complete application who are approved for a loan
    13. 13. + Conclusion  Practical Application for Team  Moving Forward Thank You & Questions

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