SlideShare a Scribd company logo
Front workplaces in
financial services companies:
an industry view

               Stefan Leuthold | stefan.leuthold@stimmt.ch | September 17, 2009
Contents


   Motivations and attitudes regarding front workplaces
   Different user groups with different tasks, motivations and attitudes
   can be efficient and effective with a single front workplace

   Front workplaces study 2007
   Roughly one third reach their goals, but certain user groups are not
   well supported, and many front workplaces are rather hard to learn

   Current front workplaces, their advantages and problems
   Choosing the right depth of integration is key to efficiency and
   effectiveness




                           Stimmt AG | Front workplaces in financial services companies – an industry view   2
Different users of front workplaces in the financial services
industry have different motivations and different attitudes

    User           Motivation in everyday work                                Attitude towards front workplace
                                                                                Data storage ok, but it‘s too slow
 Relation-   Respected professional
                                                                                Makes me look (and feel) stupid
   ship      Proactive for clients I know well
                                                                                Don‘t need the tool for CRM!
 manager   Recognition
                                                                                Admin stuff hinders my work

  Back                                                                          I see all client data
           No errors in execution
 office                                                                         It‘s too slow
           Pile of work gone
employee                                                                        I don‘t need most of it


     CA                                                                         «Focus on reaching your goals!»
                    Optimise team output
    head                                                                        My main work is not supported


 As seen in a study with 16 financial services companies, most companies‘
 front workplaces have the same history: Many different (expert) tools
 were integrated into a front workplace that is the same for every user.
 Will the same tool be able to make those different user groups efficient?
Source: 381 qualitative interviews with front employees, their heads, and back office employees in three different companies
                                              Stimmt AG | Front workplaces in financial services companies – an industry view   3
Different users of front workplaces in the financial services
industry have different motivations and different attitudes

    User           Motivation in everyday work                                Attitude towards front workplace
                                                                                Data storage ok, but it‘s too slow
 Relation-   Respected professional
                                                                                Makes me look (and feel) stupid
   ship      Proactive for clients I know well
                                                                                Don‘t need the tool for CRM!
 manager   Recognition
                                                                                Admin stuff hinders my work

  Back                                                                          I see all client data
           No errors in execution
 office                                                                         It‘s too slow
           Pile of work gone
employee                                                                        I don‘t need most of it


     CA                                                                         «Focus on reaching your goals!»
                    Optimise team output
    head                                                                        My main work is not supported


 As seen in a study with 16 financial services companies, most companies‘
 front workplaces have the same history: Many different (expert) tools
 were integrated into a front workplace that is the same for every user.
 Will the same tool be able to make those different user groups efficient?
Source: 381 qualitative interviews with front employees, their heads, and back office employees in three different companies
                                              Stimmt AG | Front workplaces in financial services companies – an industry view   4
To make the different user groups efficient and effective, a
 front workplace has to present itself differently to every group




Push structured
products for
PCS.

     Top              CA              Backoffice             Relationship              Call center
  management         head             employee                 manager                   agent

          Front workplace captures interactions, knows relevant data

                        Corporate
                          client            Private Client
                                             Switzerland




                            Stimmt AG | Front workplaces in financial services companies – an industry view   5
To make the different user groups efficient and effective, a
 front workplace has to present itself differently to every group

                                    Competitor is main bank: Lowest I can offer is
                  Goals 2009:       2.05% if you consider us as main bank, else
                 Call center ok.    2.25%... Rest of the money: Structured products?
                CAs pushing the
                  right things.                              Tell you typical ranges – 
Push structured                                              or transfer you to an CA
                              Ah, I see another mort-
products for                                                 or specialist?
                              gage case got delegated.
PCS.

      Top                CA              Backoffice             Relationship              Call center
   management           head             employee                 manager                   agent

          Front workplace captures interactions, knows relevant data

                           Corporate
                             client            Private Client                  Doesn‘t sound
                                                Switzerland                    bad. ..


                                                                       We have mortgage to
                                                                       refinance: Conditions?
                                                                       Former CA left.
                               Stimmt AG | Front workplaces in financial services companies – an industry view   6
To make the different user groups efficient and effective, a
 front workplace has to present itself differently to every group

                                    Competitor is main bank: Lowest I can offer is
                  Goals 2009:       2.05% if you consider us as main bank, else
                 Call center ok.    2.25%... Rest of the money: Structured products?
                CAs pushing the
                  right things.                              Tell you typical ranges – 
Push structured                                              or transfer you to an CA
                              Ah, I see another mort-
products for                                                 or specialist?
                              gage case got delegated.
PCS.

      Top                CA               Backoffice             Relationship              Call center
   management           head              employee                 manager                   agent

          Front workplace captures interactions, knows relevant data

                           Corporate
                             client             Private Client                  Doesn‘t sound
                                                 Switzerland                    bad. ..
      Why isn‘t my             Often one and the same
     company using                                                      We have mortgage to
       this bank!?                                                      refinance: Conditions?
                                                                        Former CA left.
                                Stimmt AG | Front workplaces in financial services companies – an industry view   7
Contents


   Motivations and attitudes regarding front workplaces
   Different user groups with different tasks, motivations and attitudes
   can be efficient and effective with a single front workplace

   Front workplaces study 2007
   Roughly one third reach their goals, but certain user groups are not
   well supported, and many front workplaces are rather hard to learn

   Current front workplaces, their advantages and problems
   Choosing the right depth of integration is key to efficiency and
   effectiveness




                           Stimmt AG | Front workplaces in financial services companies – an industry view   8
Most company representatives believe their front workplaces do
not achieve their goals (more efficiency, more revenue, less cost)

«The front-workplace-related goals have been achieved.»

  1. Efficiency gains in
  marketing and sales         3         2                    9                                 7
                 (n=18)

 2. Increase in revenue
                 (n=16)           5             2                      9                           5

  3. Less cost thanks to
            IT synergies                  10                       1            4                  5
                  (n=10)

                    Scale                                            Neither disagree
                            No answer       Disagreement                                 Agreement
                                                                     nor agree




 Only a minority of company representatives say that the front workplace
 really delivers on the originally intended goals.

                                Stimmt AG | Front workplaces in financial services companies – an industry view   9
Most front workplaces provide good task support only for front
employees – management and back office are not well supported

«Our front workplace supports the tasks of our employees well.»

                Front
               (n=21)     1                 7                                    13

         Management
              (n=21)          4                        9                                   8

            Backoffice
               (n=20)     1       1                         13                                  6

                  Scale                                            Neither disagree
                          No answer     Disagreement                                   Agreement
                                                                   nor agree


 The front workplaces‘ potential is not fully tapped – although data would
 be available, front workplaces lack data aggregation and/or functionality
 needed on the management and backoffice level.

                              Stimmt AG | Front workplaces in financial services companies – an industry view   10
According to study participants, the harder to front workplace is
to learn for front employees, the less it is accepted
                                                                                           Legend
                                                                                             Answers from
                 6
                                                                                             study
                                                                                             participants
 «Acceptance 5
 for our front
workplace is 4
                                                r= –.7
                                                (significant
          high»                                 correlation)
6: «fully agree», 3
 1: «completely
      disagree» 2


                 1

                                                                                                  n=19
                            1          2            3            4             5            6
                      «completely «disagree» «somehow «somehow «agree» «fully
                       disagree»              disagree» agree»         agree»
                            «Our front workplace is hard to learn»

  Resistance against changes and future developments stems in part from
  users‘ fear of new features making the front workplace harder to learn.

                                Stimmt AG | Front workplaces in financial services companies – an industry view   11
Contents


   Motivations and attitudes regarding front workplaces
   Different user groups with different tasks, motivations and attitudes
   can be efficient and effective with a single front workplace

   Front workplaces study 2007
   Roughly one third reach their goals, but certain user groups are not
   well supported, and many front workplaces are rather hard to learn

   Current front workplaces, their advantages and problems
   Choosing the right depth of integration is key to efficiency and
   effectiveness




                           Stimmt AG | Front workplaces in financial services companies – an industry view   12
If one size does not fit all – how to build a front workplace that
is efficient, increases revenue, saves costs and is easy to learn?

    Top                   CA              Backoffice             Relationship              Call center
 management              head             employee                 manager                   agent

     Manage access and aggregation, provide the right user interfaces

        Front workplace captures interactions, knows relevant data
  Manage and track sales                                                                  Store and track
  and marketing effort                     Deliver                                       customer needs
                                         products or
                                           services
  Evaluate and display                 (or initiate delivery)                         Store and manage
  real-time data                                                                          customer info


                           Corporate           Private Client
                             client             Switzerland

 Current front workplaces integrate five (for historical reasons different)
 components into a seamless solution – often with a distinct focus on a
 set of components that has its own strengths and weaknesses.

                                Stimmt AG | Front workplaces in financial services companies – an industry view   13
Most current front workplaces have all/many of the necessary
components in place – but depth of integration does not fit

                                                                Manage/track
   Scope                                                        sales/marketing
                                                                effort


                                                     Real-time
                                                     customer data



                                           System
                                           integration
                                           for service
                                           delivery
                       Store
                       and
                       track
    Store and manage   customer
    customer info      needs                                                                  Time


 Individual parts must «fit» together. This is very difficult to achieve and
 needs consistent program management over five to ten years.

                          Stimmt AG | Front workplaces in financial services companies – an industry view   14
Most current front workplaces have all/many of the necessary
components in place – but depth of integration does not fit


   Scope




              Manage/track Real-time
              sales/marketing customer data
              effort


                                System
           Store and track
                                integration
           customer needs
                                for service
                                delivery

    Store and manage
    customer info                                                                                Time


 Individual parts must «fit» together. This is very difficult to achieve and
 needs consistent program management over five to ten years.

                             Stimmt AG | Front workplaces in financial services companies – an industry view   15
An efficient and satisfactory front workplace
does not happen by accident.

Stimmt.




Stimmt AG | Korneliusstrasse 9 | CH-8008 Zürich | +41 (0)44 562 10 10

More Related Content

What's hot

Offshore Cost Relief
Offshore Cost ReliefOffshore Cost Relief
Offshore Cost Relief
rpboulan53
 
White Paper : Why Outsourcing Fails
White Paper : Why Outsourcing FailsWhite Paper : Why Outsourcing Fails
White Paper : Why Outsourcing Fails
ISHIR
 
Cloudnition dr plan template fillable form
Cloudnition dr plan template fillable formCloudnition dr plan template fillable form
Cloudnition dr plan template fillable form
Cloudnition Web Development & Online Marketing
 
Freelance computer programmer slide show
Freelance computer programmer slide showFreelance computer programmer slide show
Freelance computer programmer slide show
Ryan Blanchard
 
Infact Insight on Presentations
Infact Insight on PresentationsInfact Insight on Presentations
Infact Insight on Presentations
Infact Insight
 
Req Pro - Andreas gschwind
Req Pro - Andreas gschwindReq Pro - Andreas gschwind
Req Pro - Andreas gschwind
Roopa Nadkarni
 
Richard Smeltz Linkedin Presentation Rev A
Richard Smeltz   Linkedin Presentation Rev ARichard Smeltz   Linkedin Presentation Rev A
Richard Smeltz Linkedin Presentation Rev A
Richard Smeltz
 
Select integrated with TBE
Select integrated with TBESelect integrated with TBE
Select integrated with TBE
sarahcallery
 
Avanulo White Paper 446 Relentless Achievement An Effective Defense Agai...
Avanulo White Paper  446   Relentless Achievement   An Effective Defense Agai...Avanulo White Paper  446   Relentless Achievement   An Effective Defense Agai...
Avanulo White Paper 446 Relentless Achievement An Effective Defense Agai...
mstxbusiness
 
Accenture TM Nillezen Sustainable Performance Improvement V1 [Compatibility ...
Accenture TM Nillezen  Sustainable Performance Improvement V1 [Compatibility ...Accenture TM Nillezen  Sustainable Performance Improvement V1 [Compatibility ...
Accenture TM Nillezen Sustainable Performance Improvement V1 [Compatibility ...
tmnillezen
 
Utility AP - Best Practice, out of the box with Maximo Asset Management
Utility AP - Best Practice, out of the box with Maximo Asset ManagementUtility AP - Best Practice, out of the box with Maximo Asset Management
Utility AP - Best Practice, out of the box with Maximo Asset Management
Vincent Kwon
 
White paper options for handling your hr function[1]
White paper  options for handling your hr function[1]White paper  options for handling your hr function[1]
White paper options for handling your hr function[1]
ReadWrite
 
Options For Handling Your Hr Function
Options For Handling Your Hr FunctionOptions For Handling Your Hr Function
Options For Handling Your Hr Function
tonylaporte
 
The True Value Of Customer Service
The True Value Of Customer ServiceThe True Value Of Customer Service
The True Value Of Customer Service
1001tech IPvox
 
White paper -employee_retentionwhitepaper
White paper -employee_retentionwhitepaperWhite paper -employee_retentionwhitepaper
White paper -employee_retentionwhitepaper
Confidential
 
Richard Smeltz Linkedin Presentation
Richard Smeltz   Linkedin PresentationRichard Smeltz   Linkedin Presentation
Richard Smeltz Linkedin Presentation
Richard Smeltz
 

What's hot (16)

Offshore Cost Relief
Offshore Cost ReliefOffshore Cost Relief
Offshore Cost Relief
 
White Paper : Why Outsourcing Fails
White Paper : Why Outsourcing FailsWhite Paper : Why Outsourcing Fails
White Paper : Why Outsourcing Fails
 
Cloudnition dr plan template fillable form
Cloudnition dr plan template fillable formCloudnition dr plan template fillable form
Cloudnition dr plan template fillable form
 
Freelance computer programmer slide show
Freelance computer programmer slide showFreelance computer programmer slide show
Freelance computer programmer slide show
 
Infact Insight on Presentations
Infact Insight on PresentationsInfact Insight on Presentations
Infact Insight on Presentations
 
Req Pro - Andreas gschwind
Req Pro - Andreas gschwindReq Pro - Andreas gschwind
Req Pro - Andreas gschwind
 
Richard Smeltz Linkedin Presentation Rev A
Richard Smeltz   Linkedin Presentation Rev ARichard Smeltz   Linkedin Presentation Rev A
Richard Smeltz Linkedin Presentation Rev A
 
Select integrated with TBE
Select integrated with TBESelect integrated with TBE
Select integrated with TBE
 
Avanulo White Paper 446 Relentless Achievement An Effective Defense Agai...
Avanulo White Paper  446   Relentless Achievement   An Effective Defense Agai...Avanulo White Paper  446   Relentless Achievement   An Effective Defense Agai...
Avanulo White Paper 446 Relentless Achievement An Effective Defense Agai...
 
Accenture TM Nillezen Sustainable Performance Improvement V1 [Compatibility ...
Accenture TM Nillezen  Sustainable Performance Improvement V1 [Compatibility ...Accenture TM Nillezen  Sustainable Performance Improvement V1 [Compatibility ...
Accenture TM Nillezen Sustainable Performance Improvement V1 [Compatibility ...
 
Utility AP - Best Practice, out of the box with Maximo Asset Management
Utility AP - Best Practice, out of the box with Maximo Asset ManagementUtility AP - Best Practice, out of the box with Maximo Asset Management
Utility AP - Best Practice, out of the box with Maximo Asset Management
 
White paper options for handling your hr function[1]
White paper  options for handling your hr function[1]White paper  options for handling your hr function[1]
White paper options for handling your hr function[1]
 
Options For Handling Your Hr Function
Options For Handling Your Hr FunctionOptions For Handling Your Hr Function
Options For Handling Your Hr Function
 
The True Value Of Customer Service
The True Value Of Customer ServiceThe True Value Of Customer Service
The True Value Of Customer Service
 
White paper -employee_retentionwhitepaper
White paper -employee_retentionwhitepaperWhite paper -employee_retentionwhitepaper
White paper -employee_retentionwhitepaper
 
Richard Smeltz Linkedin Presentation
Richard Smeltz   Linkedin PresentationRichard Smeltz   Linkedin Presentation
Richard Smeltz Linkedin Presentation
 

Viewers also liked

Ppt0000000
Ppt0000000Ppt0000000
Ppt0000000
alisond10
 
Ppt0000000
Ppt0000000Ppt0000000
Ppt0000000
alisond10
 
Stimmt Customer Experience
Stimmt Customer ExperienceStimmt Customer Experience
Stimmt Customer Experience
Helmut Kazmaier
 
Zenmail
ZenmailZenmail
Zaptext
ZaptextZaptext
Komera
KomeraKomera
Brief Prosperity Profile of Kitchener, Ontario
Brief Prosperity Profile of Kitchener, OntarioBrief Prosperity Profile of Kitchener, Ontario
Brief Prosperity Profile of Kitchener, Ontario
mpian
 
Zapshot
ZapshotZapshot

Viewers also liked (8)

Ppt0000000
Ppt0000000Ppt0000000
Ppt0000000
 
Ppt0000000
Ppt0000000Ppt0000000
Ppt0000000
 
Stimmt Customer Experience
Stimmt Customer ExperienceStimmt Customer Experience
Stimmt Customer Experience
 
Zenmail
ZenmailZenmail
Zenmail
 
Zaptext
ZaptextZaptext
Zaptext
 
Komera
KomeraKomera
Komera
 
Brief Prosperity Profile of Kitchener, Ontario
Brief Prosperity Profile of Kitchener, OntarioBrief Prosperity Profile of Kitchener, Ontario
Brief Prosperity Profile of Kitchener, Ontario
 
Zapshot
ZapshotZapshot
Zapshot
 

Similar to Front workplaces in financial services companies: an industry view

Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...
Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...
Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...
NTEN
 
Deltek First Cloud Solutions for PS Firms
Deltek First Cloud Solutions for PS FirmsDeltek First Cloud Solutions for PS Firms
Deltek First Cloud Solutions for PS Firms
Brian LaMee
 
Intuit Transforms HR - HR Technology Conference 2011
Intuit Transforms HR - HR Technology Conference 2011Intuit Transforms HR - HR Technology Conference 2011
Intuit Transforms HR - HR Technology Conference 2011
Workday
 
The Evolution Of Agile Business Analystv2
The Evolution Of Agile Business Analystv2The Evolution Of Agile Business Analystv2
The Evolution Of Agile Business Analystv2
alstonhodge
 
Creating Learning Performance
Creating Learning PerformanceCreating Learning Performance
Creating Learning Performance
Bullseye_Evaluation
 
Mod 1 and 2
Mod 1 and 2Mod 1 and 2
Mod 1 and 2
rheaverma
 
Getting Management Buy In Your Top 7 Actions
Getting Management Buy In   Your Top 7 ActionsGetting Management Buy In   Your Top 7 Actions
Getting Management Buy In Your Top 7 Actions
AndrewLi
 
Lean kanban university presentatie tri ict Hartman & Stroo
Lean kanban university presentatie tri ict Hartman & StrooLean kanban university presentatie tri ict Hartman & Stroo
Lean kanban university presentatie tri ict Hartman & Stroo
ajhartman
 
WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...
WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...
WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...
Dubai Quality Group
 
Making Architecture Business Value Driven
Making Architecture Business Value DrivenMaking Architecture Business Value Driven
Making Architecture Business Value Driven
IASA
 
itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...
itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...
itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...
Arno Kapteyn
 
My strategicplan.strategyhuddle.022410
My strategicplan.strategyhuddle.022410My strategicplan.strategyhuddle.022410
My strategicplan.strategyhuddle.022410
M3Planning
 
Impact 2012 1640 - BPM Design considerations when optimizing business process...
Impact 2012 1640 - BPM Design considerations when optimizing business process...Impact 2012 1640 - BPM Design considerations when optimizing business process...
Impact 2012 1640 - BPM Design considerations when optimizing business process...
Brian Petrini
 
Client event november 2011 timesheets
Client event november 2011   timesheetsClient event november 2011   timesheets
Client event november 2011 timesheets
CIPHR
 
FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...
FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...
FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...
LKS, S. Coop.
 
White Paper Driving Higher Performance American Society For Quality 2009
White Paper   Driving Higher Performance   American Society For Quality 2009White Paper   Driving Higher Performance   American Society For Quality 2009
White Paper Driving Higher Performance American Society For Quality 2009
Bruce_Ennis
 
Big Data, Analytics, and Social Good - The Challenges, The Opportunity
Big Data, Analytics, and Social Good - The Challenges, The OpportunityBig Data, Analytics, and Social Good - The Challenges, The Opportunity
Big Data, Analytics, and Social Good - The Challenges, The Opportunity
Jaime Fitzgerald
 
Agile needs resurgence of visual modeling
Agile needs resurgence of visual modelingAgile needs resurgence of visual modeling
Agile needs resurgence of visual modeling
Russell Pannone
 
QuantumRisk Media Kit
QuantumRisk Media KitQuantumRisk Media Kit
QuantumRisk Media Kit
solomon7
 
The ROI of Talent Management
The ROI of Talent ManagementThe ROI of Talent Management
The ROI of Talent Management
Human Capital Media
 

Similar to Front workplaces in financial services companies: an industry view (20)

Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...
Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...
Implementing CRM: What Works, What Doesn't and How to Make Your Project a Suc...
 
Deltek First Cloud Solutions for PS Firms
Deltek First Cloud Solutions for PS FirmsDeltek First Cloud Solutions for PS Firms
Deltek First Cloud Solutions for PS Firms
 
Intuit Transforms HR - HR Technology Conference 2011
Intuit Transforms HR - HR Technology Conference 2011Intuit Transforms HR - HR Technology Conference 2011
Intuit Transforms HR - HR Technology Conference 2011
 
The Evolution Of Agile Business Analystv2
The Evolution Of Agile Business Analystv2The Evolution Of Agile Business Analystv2
The Evolution Of Agile Business Analystv2
 
Creating Learning Performance
Creating Learning PerformanceCreating Learning Performance
Creating Learning Performance
 
Mod 1 and 2
Mod 1 and 2Mod 1 and 2
Mod 1 and 2
 
Getting Management Buy In Your Top 7 Actions
Getting Management Buy In   Your Top 7 ActionsGetting Management Buy In   Your Top 7 Actions
Getting Management Buy In Your Top 7 Actions
 
Lean kanban university presentatie tri ict Hartman & Stroo
Lean kanban university presentatie tri ict Hartman & StrooLean kanban university presentatie tri ict Hartman & Stroo
Lean kanban university presentatie tri ict Hartman & Stroo
 
WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...
WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...
WQD2011 - INNOVATION - Mashreq Bank - Improving the on-boarding experience fo...
 
Making Architecture Business Value Driven
Making Architecture Business Value DrivenMaking Architecture Business Value Driven
Making Architecture Business Value Driven
 
itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...
itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...
itSMF IT Service Portfolio Management - What IT needs to do to avoid cost cut...
 
My strategicplan.strategyhuddle.022410
My strategicplan.strategyhuddle.022410My strategicplan.strategyhuddle.022410
My strategicplan.strategyhuddle.022410
 
Impact 2012 1640 - BPM Design considerations when optimizing business process...
Impact 2012 1640 - BPM Design considerations when optimizing business process...Impact 2012 1640 - BPM Design considerations when optimizing business process...
Impact 2012 1640 - BPM Design considerations when optimizing business process...
 
Client event november 2011 timesheets
Client event november 2011   timesheetsClient event november 2011   timesheets
Client event november 2011 timesheets
 
FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...
FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...
FORO_FINANCIERO: Rolling Forecasts como alternativa a la planificacion tradic...
 
White Paper Driving Higher Performance American Society For Quality 2009
White Paper   Driving Higher Performance   American Society For Quality 2009White Paper   Driving Higher Performance   American Society For Quality 2009
White Paper Driving Higher Performance American Society For Quality 2009
 
Big Data, Analytics, and Social Good - The Challenges, The Opportunity
Big Data, Analytics, and Social Good - The Challenges, The OpportunityBig Data, Analytics, and Social Good - The Challenges, The Opportunity
Big Data, Analytics, and Social Good - The Challenges, The Opportunity
 
Agile needs resurgence of visual modeling
Agile needs resurgence of visual modelingAgile needs resurgence of visual modeling
Agile needs resurgence of visual modeling
 
QuantumRisk Media Kit
QuantumRisk Media KitQuantumRisk Media Kit
QuantumRisk Media Kit
 
The ROI of Talent Management
The ROI of Talent ManagementThe ROI of Talent Management
The ROI of Talent Management
 

More from Helmut Kazmaier

Eine kurze Customer Experience Reise
Eine kurze Customer Experience ReiseEine kurze Customer Experience Reise
Eine kurze Customer Experience Reise
Helmut Kazmaier
 
Customer Experience Forum 3, 1. Dezember 2010
Customer Experience Forum 3, 1. Dezember 2010Customer Experience Forum 3, 1. Dezember 2010
Customer Experience Forum 3, 1. Dezember 2010
Helmut Kazmaier
 
Eine kurze Customer Experience Reise
Eine kurze Customer Experience ReiseEine kurze Customer Experience Reise
Eine kurze Customer Experience Reise
Helmut Kazmaier
 
WinterTour: Konzertreise mit alphacappella
WinterTour: Konzertreise mit alphacappellaWinterTour: Konzertreise mit alphacappella
WinterTour: Konzertreise mit alphacappellaHelmut Kazmaier
 
Hotels in der Nähe des BrandGym
Hotels in der Nähe des BrandGymHotels in der Nähe des BrandGym
Hotels in der Nähe des BrandGym
Helmut Kazmaier
 
Erfolgsfaktor Kundenerlebnis
Erfolgsfaktor KundenerlebnisErfolgsfaktor Kundenerlebnis
Erfolgsfaktor Kundenerlebnis
Helmut Kazmaier
 

More from Helmut Kazmaier (7)

Eine kurze Customer Experience Reise
Eine kurze Customer Experience ReiseEine kurze Customer Experience Reise
Eine kurze Customer Experience Reise
 
Customer Experience Forum 3, 1. Dezember 2010
Customer Experience Forum 3, 1. Dezember 2010Customer Experience Forum 3, 1. Dezember 2010
Customer Experience Forum 3, 1. Dezember 2010
 
Cx forum3
Cx forum3Cx forum3
Cx forum3
 
Eine kurze Customer Experience Reise
Eine kurze Customer Experience ReiseEine kurze Customer Experience Reise
Eine kurze Customer Experience Reise
 
WinterTour: Konzertreise mit alphacappella
WinterTour: Konzertreise mit alphacappellaWinterTour: Konzertreise mit alphacappella
WinterTour: Konzertreise mit alphacappella
 
Hotels in der Nähe des BrandGym
Hotels in der Nähe des BrandGymHotels in der Nähe des BrandGym
Hotels in der Nähe des BrandGym
 
Erfolgsfaktor Kundenerlebnis
Erfolgsfaktor KundenerlebnisErfolgsfaktor Kundenerlebnis
Erfolgsfaktor Kundenerlebnis
 

Recently uploaded

Pitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deckPitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deck
HajeJanKamps
 
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & InnovationInnovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Operational Excellence Consulting
 
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdfThe Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
thesiliconleaders
 
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
BBPMedia1
 
3 Simple Steps To Buy Verified Payoneer Account In 2024
3 Simple Steps To Buy Verified Payoneer Account In 20243 Simple Steps To Buy Verified Payoneer Account In 2024
3 Simple Steps To Buy Verified Payoneer Account In 2024
SEOSMMEARTH
 
2022 Vintage Roman Numerals Men Rings
2022 Vintage Roman  Numerals  Men  Rings2022 Vintage Roman  Numerals  Men  Rings
2022 Vintage Roman Numerals Men Rings
aragme
 
Digital Marketing with a Focus on Sustainability
Digital Marketing with a Focus on SustainabilityDigital Marketing with a Focus on Sustainability
Digital Marketing with a Focus on Sustainability
sssourabhsharma
 
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
hartfordclub1
 
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
APCO
 
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
Stephen Cashman
 
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
 
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
my Pandit
 
The latest Heat Pump Manual from Newentide
The latest Heat Pump Manual from NewentideThe latest Heat Pump Manual from Newentide
The latest Heat Pump Manual from Newentide
JoeYangGreatMachiner
 
Top 10 Free Accounting and Bookkeeping Apps for Small Businesses
Top 10 Free Accounting and Bookkeeping Apps for Small BusinessesTop 10 Free Accounting and Bookkeeping Apps for Small Businesses
Top 10 Free Accounting and Bookkeeping Apps for Small Businesses
YourLegal Accounting
 
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Stone Art Hub
 
一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理
一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理
一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理
taqyea
 
DearbornMusic-KatherineJasperFullSailUni
DearbornMusic-KatherineJasperFullSailUniDearbornMusic-KatherineJasperFullSailUni
DearbornMusic-KatherineJasperFullSailUni
katiejasper96
 
Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)
Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)
Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)
Lviv Startup Club
 
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Neil Horowitz
 
How MJ Global Leads the Packaging Industry.pdf
How MJ Global Leads the Packaging Industry.pdfHow MJ Global Leads the Packaging Industry.pdf
How MJ Global Leads the Packaging Industry.pdf
MJ Global
 

Recently uploaded (20)

Pitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deckPitch Deck Teardown: Kinnect's $250k Angel deck
Pitch Deck Teardown: Kinnect's $250k Angel deck
 
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & InnovationInnovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & Innovation
 
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdfThe Most Inspiring Entrepreneurs to Follow in 2024.pdf
The Most Inspiring Entrepreneurs to Follow in 2024.pdf
 
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
 
3 Simple Steps To Buy Verified Payoneer Account In 2024
3 Simple Steps To Buy Verified Payoneer Account In 20243 Simple Steps To Buy Verified Payoneer Account In 2024
3 Simple Steps To Buy Verified Payoneer Account In 2024
 
2022 Vintage Roman Numerals Men Rings
2022 Vintage Roman  Numerals  Men  Rings2022 Vintage Roman  Numerals  Men  Rings
2022 Vintage Roman Numerals Men Rings
 
Digital Marketing with a Focus on Sustainability
Digital Marketing with a Focus on SustainabilityDigital Marketing with a Focus on Sustainability
Digital Marketing with a Focus on Sustainability
 
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf2024-6-01-IMPACTSilver-Corp-Presentation.pdf
2024-6-01-IMPACTSilver-Corp-Presentation.pdf
 
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
 
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
 
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
 
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
 
The latest Heat Pump Manual from Newentide
The latest Heat Pump Manual from NewentideThe latest Heat Pump Manual from Newentide
The latest Heat Pump Manual from Newentide
 
Top 10 Free Accounting and Bookkeeping Apps for Small Businesses
Top 10 Free Accounting and Bookkeeping Apps for Small BusinessesTop 10 Free Accounting and Bookkeeping Apps for Small Businesses
Top 10 Free Accounting and Bookkeeping Apps for Small Businesses
 
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
 
一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理
一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理
一比一原版新西兰奥塔哥大学毕业证(otago毕业证)如何办理
 
DearbornMusic-KatherineJasperFullSailUni
DearbornMusic-KatherineJasperFullSailUniDearbornMusic-KatherineJasperFullSailUni
DearbornMusic-KatherineJasperFullSailUni
 
Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)
Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)
Maksym Vyshnivetskyi: PMO KPIs (UA) (#12)
 
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
 
How MJ Global Leads the Packaging Industry.pdf
How MJ Global Leads the Packaging Industry.pdfHow MJ Global Leads the Packaging Industry.pdf
How MJ Global Leads the Packaging Industry.pdf
 

Front workplaces in financial services companies: an industry view

  • 1. Front workplaces in financial services companies: an industry view Stefan Leuthold | stefan.leuthold@stimmt.ch | September 17, 2009
  • 2. Contents Motivations and attitudes regarding front workplaces Different user groups with different tasks, motivations and attitudes can be efficient and effective with a single front workplace Front workplaces study 2007 Roughly one third reach their goals, but certain user groups are not well supported, and many front workplaces are rather hard to learn Current front workplaces, their advantages and problems Choosing the right depth of integration is key to efficiency and effectiveness Stimmt AG | Front workplaces in financial services companies – an industry view 2
  • 3. Different users of front workplaces in the financial services industry have different motivations and different attitudes User Motivation in everyday work Attitude towards front workplace   Data storage ok, but it‘s too slow Relation-   Respected professional   Makes me look (and feel) stupid ship   Proactive for clients I know well   Don‘t need the tool for CRM! manager   Recognition   Admin stuff hinders my work Back   I see all client data   No errors in execution office   It‘s too slow   Pile of work gone employee   I don‘t need most of it CA   «Focus on reaching your goals!»   Optimise team output head   My main work is not supported As seen in a study with 16 financial services companies, most companies‘ front workplaces have the same history: Many different (expert) tools were integrated into a front workplace that is the same for every user. Will the same tool be able to make those different user groups efficient? Source: 381 qualitative interviews with front employees, their heads, and back office employees in three different companies Stimmt AG | Front workplaces in financial services companies – an industry view 3
  • 4. Different users of front workplaces in the financial services industry have different motivations and different attitudes User Motivation in everyday work Attitude towards front workplace   Data storage ok, but it‘s too slow Relation-   Respected professional   Makes me look (and feel) stupid ship   Proactive for clients I know well   Don‘t need the tool for CRM! manager   Recognition   Admin stuff hinders my work Back   I see all client data   No errors in execution office   It‘s too slow   Pile of work gone employee   I don‘t need most of it CA   «Focus on reaching your goals!»   Optimise team output head   My main work is not supported As seen in a study with 16 financial services companies, most companies‘ front workplaces have the same history: Many different (expert) tools were integrated into a front workplace that is the same for every user. Will the same tool be able to make those different user groups efficient? Source: 381 qualitative interviews with front employees, their heads, and back office employees in three different companies Stimmt AG | Front workplaces in financial services companies – an industry view 4
  • 5. To make the different user groups efficient and effective, a front workplace has to present itself differently to every group Push structured products for PCS. Top CA Backoffice Relationship Call center management head employee manager agent Front workplace captures interactions, knows relevant data Corporate client Private Client Switzerland Stimmt AG | Front workplaces in financial services companies – an industry view 5
  • 6. To make the different user groups efficient and effective, a front workplace has to present itself differently to every group Competitor is main bank: Lowest I can offer is Goals 2009: 2.05% if you consider us as main bank, else Call center ok. 2.25%... Rest of the money: Structured products? CAs pushing the right things. Tell you typical ranges –  Push structured or transfer you to an CA Ah, I see another mort- products for or specialist? gage case got delegated. PCS. Top CA Backoffice Relationship Call center management head employee manager agent Front workplace captures interactions, knows relevant data Corporate client Private Client Doesn‘t sound Switzerland bad. .. We have mortgage to refinance: Conditions? Former CA left. Stimmt AG | Front workplaces in financial services companies – an industry view 6
  • 7. To make the different user groups efficient and effective, a front workplace has to present itself differently to every group Competitor is main bank: Lowest I can offer is Goals 2009: 2.05% if you consider us as main bank, else Call center ok. 2.25%... Rest of the money: Structured products? CAs pushing the right things. Tell you typical ranges –  Push structured or transfer you to an CA Ah, I see another mort- products for or specialist? gage case got delegated. PCS. Top CA Backoffice Relationship Call center management head employee manager agent Front workplace captures interactions, knows relevant data Corporate client Private Client Doesn‘t sound Switzerland bad. .. Why isn‘t my Often one and the same company using We have mortgage to this bank!? refinance: Conditions? Former CA left. Stimmt AG | Front workplaces in financial services companies – an industry view 7
  • 8. Contents Motivations and attitudes regarding front workplaces Different user groups with different tasks, motivations and attitudes can be efficient and effective with a single front workplace Front workplaces study 2007 Roughly one third reach their goals, but certain user groups are not well supported, and many front workplaces are rather hard to learn Current front workplaces, their advantages and problems Choosing the right depth of integration is key to efficiency and effectiveness Stimmt AG | Front workplaces in financial services companies – an industry view 8
  • 9. Most company representatives believe their front workplaces do not achieve their goals (more efficiency, more revenue, less cost) «The front-workplace-related goals have been achieved.» 1. Efficiency gains in marketing and sales 3 2 9 7 (n=18) 2. Increase in revenue (n=16) 5 2 9 5 3. Less cost thanks to IT synergies 10 1 4 5 (n=10) Scale Neither disagree No answer Disagreement Agreement nor agree Only a minority of company representatives say that the front workplace really delivers on the originally intended goals. Stimmt AG | Front workplaces in financial services companies – an industry view 9
  • 10. Most front workplaces provide good task support only for front employees – management and back office are not well supported «Our front workplace supports the tasks of our employees well.» Front (n=21) 1 7 13 Management (n=21) 4 9 8 Backoffice (n=20) 1 1 13 6 Scale Neither disagree No answer Disagreement Agreement nor agree The front workplaces‘ potential is not fully tapped – although data would be available, front workplaces lack data aggregation and/or functionality needed on the management and backoffice level. Stimmt AG | Front workplaces in financial services companies – an industry view 10
  • 11. According to study participants, the harder to front workplace is to learn for front employees, the less it is accepted Legend Answers from 6 study participants «Acceptance 5 for our front workplace is 4 r= –.7 (significant high» correlation) 6: «fully agree», 3 1: «completely disagree» 2 1 n=19 1 2 3 4 5 6 «completely «disagree» «somehow «somehow «agree» «fully disagree» disagree» agree» agree» «Our front workplace is hard to learn» Resistance against changes and future developments stems in part from users‘ fear of new features making the front workplace harder to learn. Stimmt AG | Front workplaces in financial services companies – an industry view 11
  • 12. Contents Motivations and attitudes regarding front workplaces Different user groups with different tasks, motivations and attitudes can be efficient and effective with a single front workplace Front workplaces study 2007 Roughly one third reach their goals, but certain user groups are not well supported, and many front workplaces are rather hard to learn Current front workplaces, their advantages and problems Choosing the right depth of integration is key to efficiency and effectiveness Stimmt AG | Front workplaces in financial services companies – an industry view 12
  • 13. If one size does not fit all – how to build a front workplace that is efficient, increases revenue, saves costs and is easy to learn? Top CA Backoffice Relationship Call center management head employee manager agent Manage access and aggregation, provide the right user interfaces Front workplace captures interactions, knows relevant data Manage and track sales Store and track and marketing effort Deliver customer needs products or services Evaluate and display (or initiate delivery) Store and manage real-time data customer info Corporate Private Client client Switzerland Current front workplaces integrate five (for historical reasons different) components into a seamless solution – often with a distinct focus on a set of components that has its own strengths and weaknesses. Stimmt AG | Front workplaces in financial services companies – an industry view 13
  • 14. Most current front workplaces have all/many of the necessary components in place – but depth of integration does not fit Manage/track Scope sales/marketing effort Real-time customer data System integration for service delivery Store and track Store and manage customer customer info needs Time Individual parts must «fit» together. This is very difficult to achieve and needs consistent program management over five to ten years. Stimmt AG | Front workplaces in financial services companies – an industry view 14
  • 15. Most current front workplaces have all/many of the necessary components in place – but depth of integration does not fit Scope Manage/track Real-time sales/marketing customer data effort System Store and track integration customer needs for service delivery Store and manage customer info Time Individual parts must «fit» together. This is very difficult to achieve and needs consistent program management over five to ten years. Stimmt AG | Front workplaces in financial services companies – an industry view 15
  • 16. An efficient and satisfactory front workplace does not happen by accident. Stimmt. Stimmt AG | Korneliusstrasse 9 | CH-8008 Zürich | +41 (0)44 562 10 10