This whitepaper discusses quantifying soft cost savings from implementing a vendor management system (VMS) or managed services program (MSP) for contingent workforce management. Soft savings include efficiency gains, reduced risks and legal liabilities, improved quality, and other benefits. The paper provides two methods for unearthing tangible elements of soft savings: 1) Identifying the nearest related tangible benefit and quantifying associated cost/revenue drivers, and 2) Examining the chain of actual measures leading to the end benefit and quantifying each step. Implementing an effective VMS/MSP program can result in total savings of 10-25% of spend within the first 18-24 months through both hard and soft savings.
The document summarizes the business case for implementing a workforce management (WFM) system. It outlines common problems contact centers face like inefficient scheduling, high costs, and missed service levels that WFM can address. Metrics are provided showing typical unsatisfactory vs best practice performance. Case studies demonstrate how WFM increased productivity and reduced expenses. The benefits of WFM for agents, supervisors, and the overall business are described. Best practices in flexibility, analytics, and change management are recommended to avoid pitfalls and maximize ROI.
An interim manager is a temporary manager hired by an organization to manage a department or complete a specific project for a set period of time. Interim management requires experience in both technical skills and people/change management. Interim managers are independent consultants focused on furthering the client's interests through durable change and a successful project handover. Their independence and experience managing change makes interim managers well-suited for situations requiring reorganization, recovery from past issues, or expertise in special projects.
Buyers Guide To Temporary Employee Servicesjeffmonaghan
This document provides guidance on choosing a temporary staffing firm. It discusses how temporary employees are commonly used to address fluctuations in workloads, fill temporary vacancies, find permanent employees, and provide immediate expertise. It also outlines the types of positions temporary employees typically fill and key factors to consider when selecting a staffing firm such as their candidate screening processes, pricing models, guarantees, and specializations. Choosing the right staffing firm requires understanding these criteria to find candidates that meet needs cost effectively.
The Business Case for Workforce Management Solutions - White PaperInfor HCM
The widespread adoption of dedicated Workforce Management (WFM) solutions continues to gain momentum as organizations increasingly recognize that the level of control and visibility needed in managing their workforce resource is rapidly outstripping the capabilities provided by existing HR applications and processes. Unlike many other areas of their operations that have for a long time seen the adoption of sophisticated solutions to optimize value (such as Enterprise Resource Planning, Supply Chain Management, Customer Relationship Management, Business Intelligence, Business Process Management and so forth) - the management of the underlying human resource has remained a largely administrative, and often manual, undertaking. In our view this is a situation that has to change if organizations are to maximize the value from their workforce resources, while at the same time minimizing its cost and risk. To achieve this, organizations need to have a much greater level of visibility and control of their workforce resources and workforce processes. Without the underlying support that a capable Workforce Management Solution can provide, this can be difficult, if not impossible to achieve. As a result, the demand for Workforce Management Solutions is growing rapidly as organizations increasingly turn their attention to the ability of their workforce management processes to support some of their most pressing operational and strategic challenges.
This trend is also being driven by the evolving role of HR within organizations. What was traditionally regarded as purely an administrative function, HR teams are now being required to take a more strategic position as organizations increasingly recognize the impact of their workforce and its activities on their operational and strategic performance. As a result, HR responsibilities are extending beyond their traditional boundaries and are now becoming closely involved in helping to drive greater value from their workforce operations. Yet just as the role of HR is evolving, so too does the need for the IT solutions and service capabilities which are required to support, or even enable that transition to happen. If HR is able to successfully fulfill this new mandate, they must also take a fresh look at the tools and methods which are currently available to them.
The document discusses outsourcing as a business strategy that can provide significant cost savings. It summarizes the results of a survey of 100 companies that found 50-60% savings for large companies and 20-30% savings for small companies when outsourcing back office functions like accounting, payroll, and vendor management. The document then outlines various outsourcing models and functions that are good candidates for outsourcing as well as criteria for determining what to outsource. Both advantages and disadvantages of outsourcing are presented.
Interim management involves hiring temporary managers to lead organizations for specific periods of time and missions. An interim manager is an experienced independent consultant chosen to lead change projects temporarily. They strive for durable change and a smooth handover when the assignment ends. Interim managers are hired for continuity when permanent managers depart or are absent, to lead reorganizations or recoveries, or to manage special projects requiring expertise not available internally. Their independence allows for neutral judgment, while their experience aids rapid understanding of new organizations.
Strategic staffing can help businesses cut costs and build a better bottom line in three key ways:
1) By reducing overhead through using temporary employees to handle extra workloads instead of overtime, converting fixed expenses to variable by minimizing direct staff, and outsourcing inefficient functions.
2) By decreasing employment costs such as lowering the cost per hire, reducing training costs by using skilled temporary workers, and eliminating benefits expenses for temporary employees.
3) By mitigating employment risks like unemployment claims, legal exposure, and the costs of a bad hire through temp-to-hire programs and replacement guarantees from staffing agencies. Developing a strategic staffing plan with a trusted partner can help businesses assess their needs and design
The document summarizes the business case for implementing a workforce management (WFM) system. It outlines common problems contact centers face like inefficient scheduling, high costs, and missed service levels that WFM can address. Metrics are provided showing typical unsatisfactory vs best practice performance. Case studies demonstrate how WFM increased productivity and reduced expenses. The benefits of WFM for agents, supervisors, and the overall business are described. Best practices in flexibility, analytics, and change management are recommended to avoid pitfalls and maximize ROI.
An interim manager is a temporary manager hired by an organization to manage a department or complete a specific project for a set period of time. Interim management requires experience in both technical skills and people/change management. Interim managers are independent consultants focused on furthering the client's interests through durable change and a successful project handover. Their independence and experience managing change makes interim managers well-suited for situations requiring reorganization, recovery from past issues, or expertise in special projects.
Buyers Guide To Temporary Employee Servicesjeffmonaghan
This document provides guidance on choosing a temporary staffing firm. It discusses how temporary employees are commonly used to address fluctuations in workloads, fill temporary vacancies, find permanent employees, and provide immediate expertise. It also outlines the types of positions temporary employees typically fill and key factors to consider when selecting a staffing firm such as their candidate screening processes, pricing models, guarantees, and specializations. Choosing the right staffing firm requires understanding these criteria to find candidates that meet needs cost effectively.
The Business Case for Workforce Management Solutions - White PaperInfor HCM
The widespread adoption of dedicated Workforce Management (WFM) solutions continues to gain momentum as organizations increasingly recognize that the level of control and visibility needed in managing their workforce resource is rapidly outstripping the capabilities provided by existing HR applications and processes. Unlike many other areas of their operations that have for a long time seen the adoption of sophisticated solutions to optimize value (such as Enterprise Resource Planning, Supply Chain Management, Customer Relationship Management, Business Intelligence, Business Process Management and so forth) - the management of the underlying human resource has remained a largely administrative, and often manual, undertaking. In our view this is a situation that has to change if organizations are to maximize the value from their workforce resources, while at the same time minimizing its cost and risk. To achieve this, organizations need to have a much greater level of visibility and control of their workforce resources and workforce processes. Without the underlying support that a capable Workforce Management Solution can provide, this can be difficult, if not impossible to achieve. As a result, the demand for Workforce Management Solutions is growing rapidly as organizations increasingly turn their attention to the ability of their workforce management processes to support some of their most pressing operational and strategic challenges.
This trend is also being driven by the evolving role of HR within organizations. What was traditionally regarded as purely an administrative function, HR teams are now being required to take a more strategic position as organizations increasingly recognize the impact of their workforce and its activities on their operational and strategic performance. As a result, HR responsibilities are extending beyond their traditional boundaries and are now becoming closely involved in helping to drive greater value from their workforce operations. Yet just as the role of HR is evolving, so too does the need for the IT solutions and service capabilities which are required to support, or even enable that transition to happen. If HR is able to successfully fulfill this new mandate, they must also take a fresh look at the tools and methods which are currently available to them.
The document discusses outsourcing as a business strategy that can provide significant cost savings. It summarizes the results of a survey of 100 companies that found 50-60% savings for large companies and 20-30% savings for small companies when outsourcing back office functions like accounting, payroll, and vendor management. The document then outlines various outsourcing models and functions that are good candidates for outsourcing as well as criteria for determining what to outsource. Both advantages and disadvantages of outsourcing are presented.
Interim management involves hiring temporary managers to lead organizations for specific periods of time and missions. An interim manager is an experienced independent consultant chosen to lead change projects temporarily. They strive for durable change and a smooth handover when the assignment ends. Interim managers are hired for continuity when permanent managers depart or are absent, to lead reorganizations or recoveries, or to manage special projects requiring expertise not available internally. Their independence allows for neutral judgment, while their experience aids rapid understanding of new organizations.
Strategic staffing can help businesses cut costs and build a better bottom line in three key ways:
1) By reducing overhead through using temporary employees to handle extra workloads instead of overtime, converting fixed expenses to variable by minimizing direct staff, and outsourcing inefficient functions.
2) By decreasing employment costs such as lowering the cost per hire, reducing training costs by using skilled temporary workers, and eliminating benefits expenses for temporary employees.
3) By mitigating employment risks like unemployment claims, legal exposure, and the costs of a bad hire through temp-to-hire programs and replacement guarantees from staffing agencies. Developing a strategic staffing plan with a trusted partner can help businesses assess their needs and design
The document discusses key concepts in management accounting such as direct and indirect costs, product versus period costs, cost behavior analysis of variable, fixed, and mixed costs, and how managerial accounting differs from financial accounting in focusing on future decisions rather than past financial reporting. It also covers management accounting tools like just-in-time production, total quality management, process reengineering, and the theory of constraints.
The business services leader case studyVele Galovski
The vice president was tasked with improving the operational division of a large business services company. Key metrics like account retention, costs, and employee satisfaction were unacceptably low. Through initiatives like an early warning system for at-risk accounts, a rapid response team to improve operations, expanding employee roles, and an employee engagement campaign, the VP was able to significantly increase account retention and revenue while improving costs and employee satisfaction.
What’s & Why’s of Business Continuity Planning (BCP) CBIZ, Inc.
Business Continuity Planning (BCP) involves developing strategies and plans to ensure critical business operations can continue functioning in the event of disruptions. This includes identifying risks, maintaining response and recovery plans, and testing through exercises and training. The document discusses the importance of BCP, outlines the BCP life cycle process, and emphasizes the need for actionable and usable plans that prioritize critical functions and can be followed by anyone. It also stresses ongoing risk assessment, plan reviews, and testing to keep the BCP program effective.
Outsourcing is when one company contracts with another company to perform services that might otherwise be done in-house. While outsourcing can reduce costs, it can also result in loss of control, security issues, and cultural misunderstandings. Dell opened call centers in India to cut costs but faced challenges with language barriers, cultural differences, high employee turnover, and lack of training, which led to decreased customer satisfaction over time. Proper planning, extensive training, and management oversight are needed to ensure outsourcing arrangements are successful.
Cristian Cojocaru presents himself as an interim manager who can provide business solutions on a contract basis. He outlines some of the benefits of interim management, such as speed of hiring, experience, focus on results, knowledge transfer, and objectivity. The document also discusses the return on investment that clients can expect from interim management, such as lower costs, quickly filling gaps, and applying expertise and best practices from various companies. Cojocaru provides examples of services he can offer, such as business development, sales management, change management, and operational management. He introduces himself and his 15+ years of experience in telecom sales and management roles.
Contingent Workforce Management Benchmark ReportCXC Global A/NZ
The Contingent Workforce Management Benchmark Report was originally presented by Jenni Nelson, Principal Consultant at HCMS for the ATC's Flexible Workforce Conference in Sydney, Australia.
This whitepaper discusses the business case for implementing workforce management software. It explains that technology has changed business operations and executives now demand intuitive software that delivers functionality and value. Workforce management software helps optimize scheduling, forecast staffing needs, and ensure the right employees are in the right roles at the right times. The document outlines common workplace challenges like doing more with less and engaging employees. It then details the key drivers, benefits, myths, and best practices for managing a successful workforce management software implementation project.
This document discusses trends in workforce management. It begins by defining workforce management and its role within human capital management. It then discusses who utilizes workforce management systems and common applications like scheduling, attendance tracking, and analytics. The document outlines trends among workforce management vendors and applications, including a move toward mobility, optimization, and analytics. It concludes by discussing the future of workforce management, including increased use of mobile technologies, optimization algorithms, business intelligence, and data gathering through artificial intelligence.
Whitepaper: Attorney Performance per Hour Analysis PerformLaw
This whitepaper gives an in-depth look at how law firms show analyze their attorneys performance per hour. These analytics will guide the firm in making informed decisions to increase profitability.
How do companies improve their first call resolution? New research by The Ascent Group shares first call resolution best practices and measurement techniques.
MSP Best Practice | Staffing for Growth and Core KPIs to UseDavid Castro
MSP best practices. How to sfaff your MSP with the right type and quantity of technicians for maximum growth and profitability. Examples of several core KPIs used by best in class MSPs. Presented by Kaseya and Redmond Channel Pro magazine. November 2012.
This document discusses different methods for measuring workforce effectiveness:
1) Staff turnover measures the percentage of staff who leave during a period and high turnover can increase costs and lower productivity.
2) Labour productivity measures output per employee and keeping productivity high is important for competitiveness and profitability.
3) Absenteeism measures the percentage of staff absent from work and managing absence levels can reduce business costs significantly.
Brad Justice presented on six common workforce management challenges for call centers: staff turnover, hiring freezes, cutting costs, managing attendance and adherence, designing effective schedules, and managing daily service and performance. He outlined the key issues with each challenge, such as high turnover rates increasing costs, understaffing due to hiring freezes degrading service, and schedule inflexibility reducing efficiency. Potential solutions were also discussed, like implementing better screening and recognition programs to reduce turnover, using technology and process changes to cut costs instead of staff, and tracking daily metrics to manage service levels.
A successful transition plan requires sustained focus from a law firm. The document outlines key elements of an effective transition plan, including work-life timelines, marketing strategies, attorney development processes, recruiting efforts, compensation incentives, and more. It emphasizes the importance of strategic staffing, expanding marketing approaches, and providing support systems to help partners prioritize firm interests as they near retirement. A third party can help guide firms through the complex strategic, cultural, and economic issues involved in transition planning.
The document discusses operations management in the BPO (business process outsourcing) sector. Key aspects include establishing a formal Service Level Agreement (SLA) between the client and service provider to define service quality, responsibilities, and metrics. The SLA is then regularly reviewed through a Service Level Management process. Some common operational goals and metrics that are tracked include call volumes, average handling times, costs, wait times, abandon rates, and first call resolution percentages. Limitations of solely relying on SLA's can include a lack of focus on end customers, business objectives, and consistency across sub-processes. Overall success depends on how effectively the BPO organization manages its operations.
- Incentive plans link pay to individual, group, or organizational performance in order to motivate employees and improve productivity. There are various types of incentive plans including individual, group, and organization-wide plans.
- A proper compensation system should be simple, beneficial, equitable, provide a guaranteed minimum wage, be balanced, incentive-oriented, ensure quality output, provide certainty, be cost-effective and flexible. It is important to develop incentive plans that are easy to understand and have a clear relationship between effort and reward.
- In addition to wages and salaries, companies provide fringe benefits like healthcare, retirement funds, paid time off to supplement employee compensation and improve industrial relations.
1. The document discusses the benefits and risks of outsourcing human resources functions. It notes that while outsourcing is promoted as a way to reduce costs, improve services, and access expertise, there are also indications that these benefits are not always realized. Additionally, outsourcing poses risks like negatively impacting employee morale and transferring insider knowledge. Careful management of outsourcing arrangements is important.
2. British Petroleum outsourced its HR functions to a third party, Exult, to reduce costs, improve support for employees, and allow HR to focus on strategic work rather than administrative tasks. The outsourcing achieved a 40% reduction in HR staff and $15 million in annual cost savings.
How to put IT Service Quality into your team's DNAcdemoss
This document discusses how to build IT service quality into a team's culture. It recommends defining service quality from the business perspective using metrics like the Business Impact Index (BII) and Customer Quality of Experience (CQoE). It suggests treating problems like crimes to thoroughly solve them, having transparency into service levels, and aligning IT and business goals to allow the "invisible hand" of the market to guide service improvement. The overall message is that achieving high service quality is a journey that starts with customer focus and business alignment.
CEOs can improve profits by focusing on 5 key areas:
1. Increasing sales by hiring the right salespeople, training them well, and managing them effectively.
2. Reducing turnover by hiring the right people and managing them well to reduce costs associated with turnover.
3. Improving customer service by defining ideal service behaviors and staffing positions with people who match those behaviors.
4. Improving leadership effectiveness by hiring and developing strong leaders to drive better business results.
5. Reducing accidents by identifying employees with safe behavioral styles, managing safely, and tailoring safety messages appropriately.
The document examines the costs of a manual expense filing and reimbursement process at a small company with 300 employees over 12 months. Through simulation, it was found that processing 2500 expense reports per year could cost the company up to $1.35 million in unbilled costs. The simulation identified that employees spent the most time gathering receipts and preparing reports, while managers were the second highest cost due to reviewing expenses. The analysis suggests streamlining the process through automation, expense thresholds for different approvers, and other methods to reduce hidden costs.
Control Your Practice and Your Future. Today\'s revenue cycle encompasses countless activities in your practice. See how ALN can help you manage your revenue cycle and turn your good practice into a great business.
The document discusses key concepts in management accounting such as direct and indirect costs, product versus period costs, cost behavior analysis of variable, fixed, and mixed costs, and how managerial accounting differs from financial accounting in focusing on future decisions rather than past financial reporting. It also covers management accounting tools like just-in-time production, total quality management, process reengineering, and the theory of constraints.
The business services leader case studyVele Galovski
The vice president was tasked with improving the operational division of a large business services company. Key metrics like account retention, costs, and employee satisfaction were unacceptably low. Through initiatives like an early warning system for at-risk accounts, a rapid response team to improve operations, expanding employee roles, and an employee engagement campaign, the VP was able to significantly increase account retention and revenue while improving costs and employee satisfaction.
What’s & Why’s of Business Continuity Planning (BCP) CBIZ, Inc.
Business Continuity Planning (BCP) involves developing strategies and plans to ensure critical business operations can continue functioning in the event of disruptions. This includes identifying risks, maintaining response and recovery plans, and testing through exercises and training. The document discusses the importance of BCP, outlines the BCP life cycle process, and emphasizes the need for actionable and usable plans that prioritize critical functions and can be followed by anyone. It also stresses ongoing risk assessment, plan reviews, and testing to keep the BCP program effective.
Outsourcing is when one company contracts with another company to perform services that might otherwise be done in-house. While outsourcing can reduce costs, it can also result in loss of control, security issues, and cultural misunderstandings. Dell opened call centers in India to cut costs but faced challenges with language barriers, cultural differences, high employee turnover, and lack of training, which led to decreased customer satisfaction over time. Proper planning, extensive training, and management oversight are needed to ensure outsourcing arrangements are successful.
Cristian Cojocaru presents himself as an interim manager who can provide business solutions on a contract basis. He outlines some of the benefits of interim management, such as speed of hiring, experience, focus on results, knowledge transfer, and objectivity. The document also discusses the return on investment that clients can expect from interim management, such as lower costs, quickly filling gaps, and applying expertise and best practices from various companies. Cojocaru provides examples of services he can offer, such as business development, sales management, change management, and operational management. He introduces himself and his 15+ years of experience in telecom sales and management roles.
Contingent Workforce Management Benchmark ReportCXC Global A/NZ
The Contingent Workforce Management Benchmark Report was originally presented by Jenni Nelson, Principal Consultant at HCMS for the ATC's Flexible Workforce Conference in Sydney, Australia.
This whitepaper discusses the business case for implementing workforce management software. It explains that technology has changed business operations and executives now demand intuitive software that delivers functionality and value. Workforce management software helps optimize scheduling, forecast staffing needs, and ensure the right employees are in the right roles at the right times. The document outlines common workplace challenges like doing more with less and engaging employees. It then details the key drivers, benefits, myths, and best practices for managing a successful workforce management software implementation project.
This document discusses trends in workforce management. It begins by defining workforce management and its role within human capital management. It then discusses who utilizes workforce management systems and common applications like scheduling, attendance tracking, and analytics. The document outlines trends among workforce management vendors and applications, including a move toward mobility, optimization, and analytics. It concludes by discussing the future of workforce management, including increased use of mobile technologies, optimization algorithms, business intelligence, and data gathering through artificial intelligence.
Whitepaper: Attorney Performance per Hour Analysis PerformLaw
This whitepaper gives an in-depth look at how law firms show analyze their attorneys performance per hour. These analytics will guide the firm in making informed decisions to increase profitability.
How do companies improve their first call resolution? New research by The Ascent Group shares first call resolution best practices and measurement techniques.
MSP Best Practice | Staffing for Growth and Core KPIs to UseDavid Castro
MSP best practices. How to sfaff your MSP with the right type and quantity of technicians for maximum growth and profitability. Examples of several core KPIs used by best in class MSPs. Presented by Kaseya and Redmond Channel Pro magazine. November 2012.
This document discusses different methods for measuring workforce effectiveness:
1) Staff turnover measures the percentage of staff who leave during a period and high turnover can increase costs and lower productivity.
2) Labour productivity measures output per employee and keeping productivity high is important for competitiveness and profitability.
3) Absenteeism measures the percentage of staff absent from work and managing absence levels can reduce business costs significantly.
Brad Justice presented on six common workforce management challenges for call centers: staff turnover, hiring freezes, cutting costs, managing attendance and adherence, designing effective schedules, and managing daily service and performance. He outlined the key issues with each challenge, such as high turnover rates increasing costs, understaffing due to hiring freezes degrading service, and schedule inflexibility reducing efficiency. Potential solutions were also discussed, like implementing better screening and recognition programs to reduce turnover, using technology and process changes to cut costs instead of staff, and tracking daily metrics to manage service levels.
A successful transition plan requires sustained focus from a law firm. The document outlines key elements of an effective transition plan, including work-life timelines, marketing strategies, attorney development processes, recruiting efforts, compensation incentives, and more. It emphasizes the importance of strategic staffing, expanding marketing approaches, and providing support systems to help partners prioritize firm interests as they near retirement. A third party can help guide firms through the complex strategic, cultural, and economic issues involved in transition planning.
The document discusses operations management in the BPO (business process outsourcing) sector. Key aspects include establishing a formal Service Level Agreement (SLA) between the client and service provider to define service quality, responsibilities, and metrics. The SLA is then regularly reviewed through a Service Level Management process. Some common operational goals and metrics that are tracked include call volumes, average handling times, costs, wait times, abandon rates, and first call resolution percentages. Limitations of solely relying on SLA's can include a lack of focus on end customers, business objectives, and consistency across sub-processes. Overall success depends on how effectively the BPO organization manages its operations.
- Incentive plans link pay to individual, group, or organizational performance in order to motivate employees and improve productivity. There are various types of incentive plans including individual, group, and organization-wide plans.
- A proper compensation system should be simple, beneficial, equitable, provide a guaranteed minimum wage, be balanced, incentive-oriented, ensure quality output, provide certainty, be cost-effective and flexible. It is important to develop incentive plans that are easy to understand and have a clear relationship between effort and reward.
- In addition to wages and salaries, companies provide fringe benefits like healthcare, retirement funds, paid time off to supplement employee compensation and improve industrial relations.
1. The document discusses the benefits and risks of outsourcing human resources functions. It notes that while outsourcing is promoted as a way to reduce costs, improve services, and access expertise, there are also indications that these benefits are not always realized. Additionally, outsourcing poses risks like negatively impacting employee morale and transferring insider knowledge. Careful management of outsourcing arrangements is important.
2. British Petroleum outsourced its HR functions to a third party, Exult, to reduce costs, improve support for employees, and allow HR to focus on strategic work rather than administrative tasks. The outsourcing achieved a 40% reduction in HR staff and $15 million in annual cost savings.
How to put IT Service Quality into your team's DNAcdemoss
This document discusses how to build IT service quality into a team's culture. It recommends defining service quality from the business perspective using metrics like the Business Impact Index (BII) and Customer Quality of Experience (CQoE). It suggests treating problems like crimes to thoroughly solve them, having transparency into service levels, and aligning IT and business goals to allow the "invisible hand" of the market to guide service improvement. The overall message is that achieving high service quality is a journey that starts with customer focus and business alignment.
CEOs can improve profits by focusing on 5 key areas:
1. Increasing sales by hiring the right salespeople, training them well, and managing them effectively.
2. Reducing turnover by hiring the right people and managing them well to reduce costs associated with turnover.
3. Improving customer service by defining ideal service behaviors and staffing positions with people who match those behaviors.
4. Improving leadership effectiveness by hiring and developing strong leaders to drive better business results.
5. Reducing accidents by identifying employees with safe behavioral styles, managing safely, and tailoring safety messages appropriately.
The document examines the costs of a manual expense filing and reimbursement process at a small company with 300 employees over 12 months. Through simulation, it was found that processing 2500 expense reports per year could cost the company up to $1.35 million in unbilled costs. The simulation identified that employees spent the most time gathering receipts and preparing reports, while managers were the second highest cost due to reviewing expenses. The analysis suggests streamlining the process through automation, expense thresholds for different approvers, and other methods to reduce hidden costs.
Control Your Practice and Your Future. Today\'s revenue cycle encompasses countless activities in your practice. See how ALN can help you manage your revenue cycle and turn your good practice into a great business.
To keep pace with the ever increasing demand for real-time customer service, shifting to mobility has become inevitable for the insurance industry. In today's scenario, where real-time servicing of customer requests 'on the fly' has become a norm, mobile technology seems ideally positioned to
enable insurers gain a competitive advantage.
To keep pace with the ever increasing demand for real-time customer service, shifting to mobility has become inevitable for the insurance industry. In
today's scenario, where real-time servicing of customer requests 'on the fly' has become a norm, mobile technology seems ideally positioned to
enable insurers gain a competitive advantage. Mobile solutions enable faster and improved communications between customers, field agents,
and the central processing office of the insurer.
Adopting mobile technology can help insurers
enhance customers' experiences, increase
productivity, while keeping a check on costs, and
mitigating operational risks.
With improving trends and the need for new investment products, Asset Under Management(AUM) have continued to evolve.
Staying focused on asset allocation and diversification, Mindtree has worked with the leading banks, asset and wealth management firms, superannuation funds for more than 10 years.
Minacs Spend Smart is an innovative spend management methodology that combines procurement fundamentals with modern techniques to strategically move legacy in-house buying activities to leveraging external capabilities. It provides a seamless set of outsourced procurement services including sourcing and category management, sourcing support, and purchasing operations. Minacs claims it can achieve significant negotiated savings and benefits for clients through its global skills, comprehensive solutions, and focus on capturing sustained value.
SAP’s Approach to Sourcing and Procurement Strategies in Today’s EconomyJon Hansen
SAP's procurement solutions help companies address challenges in today's economy by delivering efficient source-to-pay processes to reduce costs. SAP provides options for on-premise, hosted, and on-demand deployment to support procurement goals. Benchmarking shows SAP solutions can increase managed spend and savings by hundreds of percent. SAP aims to drive rapid time to value through flexible deployment and easy to use best practice processes.
An effective business process management system is needed for delivering citizen-centric services across governments. Several e-governance initiatives have been implemented at different levels to create a citizen-centric environment, but the processes need to be monitored, controlled, and changed quickly to deliver new and improved services. Business process management focuses on aligning an organization's processes with client needs and aims to continuously improve processes through tools that allow users to strategize functions, define baseline processes, simulate changes, analyze simulations, and select improvements. For governments, this can mean saving money and improving citizen services by making interactions within and across agencies more efficient.
This document discusses challenges facing risk management in financial institutions. It outlines the current state of increasing regulations, standards, and frameworks. It then discusses four main challenges: 1) Improving efficiency as redundant systems and processes have reduced efficiency. 2) Growing frustration with ongoing new regulations. 3) Keeping pace with increasing business growth and complex products while supporting revenue goals. 4) The complex environment is making it difficult to attract and retain specialized talent.
This document discusses optimizing the quote-to-cash process through business process outsourcing. It notes that consumer products companies face challenges managing order volumes and deductions. The first step described is getting order management under control by taking control of the entire quote-to-cash process and eliminating errors. Capgemini provides end-to-end solutions including establishing a centralized back office team with expertise across the process.
This document discusses how financial services firms are converging their finance, risk, compliance and treasury functions in response to regulatory pressures and market changes. It outlines trends driving this convergence, including increased complexity, competition and regulatory uncertainty. Firms must ensure financial and strategic decisions minimize risk exposure and consider impacts on customers, transactions and investments. The document also examines priorities firms are investing in, such as risk management and compliance, and how better integrating data and perspectives across divisions can help optimize goals around profitability and risk management. Examples of scenarios where converged information strategies could help with regulatory reporting and capital adequacy assessments are also provided.
Release Your Potential with Maconomy Essentials Cloud ERP - April 2013Stefan Kim (Grahn)
Generic ERP systems are too expensive, take too long to implement, do not address real business issues, and the providers do not understand the customer's business. A new paradigm is needed that can be implemented more quickly and addresses the key success factors of a professional services organization, such as client relationships, projects, resources, financials, and business insights. Maconomy Essentials is presented as an alternative that can be implemented within two weeks and is purpose-built for project-centric businesses.
The document discusses order-to-cash (O2C) processes. It notes that O2C refers to taking customer orders through various channels, fulfilling orders, shipping products, generating invoices, and collecting payments. Key pressures driving focus on O2C include reducing costs and improving customer service. Common objectives of O2C improvement are to reduce days sales outstanding and improve cash flow forecasting. The document outlines a typical O2C process and symptoms of a broken O2C process. It also applies Aberdeen's PACE framework to analyze pressures, actions, capabilities, and enablers related to optimizing an organization's O2C cycle.
Release your potential with Maconomy Essentials Cloud ERPStefan Kim (Grahn)
Generic ERP systems are too expensive, take too long to implement, don't address real business issues, and the providers don't understand the business. Maconomy Essentials is presented as an alternative that can be implemented within 2-4 calendar weeks, is purpose-built for project-centric businesses, and helps them release their potential through key business insights. It enables growth in revenue, profitability, utilization and cash flow through an integrated solution addressing clients, projects, people, financials and business metrics.
Demystifying Outsourcing and Global Services DeliveryDigite Inc
This white-paper, takes a look at the important issues and drivers, of the global services industry, and suggests a few best practices. Six Sigma, LEAN and Critical Chain project Management concepts have proven themselves in manufacturing. They can and should be applied to services delivery as well.
The document discusses financial transformation and outsourcing finance functions to reduce costs and improve efficiency; it proposes that Accuserv Corporate Advisors can help companies outsource accounting, finance, budgeting and reporting to handle non-core activities and free up management time, using a customized approach based on the company's needs and culture. The company aims to provide timely and reliable financial information to stakeholders through qualified finance professionals and a skilled team.
The document discusses using the Skills Framework for the Information Age (SFIA) to create an effective IT organization. It summarizes that SFIA can play a key role in linking an organization's design to its talent strategy by defining required skills and competencies. An effective strategy also considers people processes like performance management, retention, and recruitment to acquire, develop, and manage the necessary talent. While SFIA is useful, an organization must have complementary operating models, HR processes, and a talent strategy to address IT's unique challenges.
This document discusses balancing value, pace, and risk when making mid-market acquisitions. It presents a model for assessing the interplay between these factors. Value can be increased by addressing constraints like management capabilities or improving drivers like revenue growth. However, changes take time and carry risks. The document advocates balancing these dimensions by carefully scoping opportunities, assessing capabilities, designing improvement programs, and monitoring impacts on value and risk over time.
The focus of the solution is to automate the definition of governance, risk and controls within the financial institution’s lending process. The financial institution is allowed to define the control environment from loan origination to servicing and portfolio management. Once completed, SymSure’s monitoring framework examines all electronic activities to detect control breaches and alert the relevant persons automatically.
Similar to Soft Cost Savings in a VMS/MSP Implementation (20)
Ardent partners Solution Spotlight on DCR Workforcess
This solution spotlight utilizes Ardent Partners longstanding contingent workforce management ("CWM") technology and best practices research and combines it with Ardent's perspective on the Vendor Management System(VMS) marketplace and recent market conducted on the same topics.The first half of this report highlights the evolution of the non-employee workforce industry,while the second half focuses on a deep profile of solution provider DCR Workforce.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The May edition looks at wage growth in the United States and employment in the automobile manufacturing sector. We continue our global series on the ASEAN region by looking at the impact on oil prices on Malaysia’s economy. We uncover why recent indexes have been rating the U.S. economy as disappointing. Our feature article discusses the definition of innovation and provides information on how companies can get started on incorporate innovation into their organizations. Finally, we examine how the talent acquisition sector has been disrupted by changes in the way employers access and engage with talent.
DCR National Temp Wage Index
U.S. Economy: Disappointing..?
Wage Growth Across The U.S.
Industry Highlight: Automobile Manufacturing Index
What Do Millennials Want?
Malaysia: Oil Prices Pose Threat to Economy
Innovation as Usual
Recruiting Disrupted,.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The June edition looks at the impact of oil prices on employment in the oil and gas industry and trends in talent management. We continue our global series on the ASEAN region by looking at Indonesia’s slowing economy. This month also features our quarterly topic “What’s Trending in the Temp Market.” We also discuss job prospects for the graduating class of 2015. Our feature article hones in on the need for simplicity in the workforce, and provides some ways to get started. Finally, we examine the long-term economic impact of the devastating earthquakes experienced by Nepal recently
DCR National Temp Wage Index
Employment Prospects for 2015 Grads
Indonesia’s Slowing Economy and Workforce Challenges
What’s Trending in the Temp Market – Q2 of 2015
Industry Highlight: Oil and Gas Index
4 Talent Management Trends
Simplicity is the Ultimate Sophistication
Nepal Earthquake: The Long-Term Economic Impact
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The April edition looks at the growing talent management software market and employment in the technology sector. We continue our global series on the ASEAN region by looking at talent trends in the Philippines, and also examine which countries around the world are the most worker-friendly. We explain the debate on if the U.S. economy is at full employment, and throw light on the current situation of the economy. Our feature article discusses the usage of talent analytics and delves into some common myths about big data and metrics. Finally, we reveal which industry in the country has the happiest workers.
DCR National Temp Wage Index
Full Employment: Jobs vs. Inflation
Best Practices in Recruiting for 2015
Changes in the Talent Management Software Market
Industry Highlight: Technology Index
The Philippines – Poised For Growth Through BPO
The World’s Most Worker-Friendly Countries
Measure What Matters
The Happiest Industries
DCR TrendLine February 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The February issue looks at minimum wage across the country and employment in the real estate sector. We’re also checking in on the labor markets in Europe. We compare the expectations and realities of the working world for new college grads, and also present what’s trending in Q1 of 2015. Our feature article discusses the importance of paying attention to the perception that candidates have of a company. And discover the questions that arise from the ongoing growth of the non-employee workforce.
DCR TrendLine January 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The January issue explores two broad themes: predictions for the upcoming year and worker wellness. We look at trends for 2015 in the IT industry, HR technology, employment and workforce happenings, and talent acquisition. We explore causes of worker burnout, and peek in on the recreational services industry. Our feature article examines the use of big data analysis in the human resources function.
The DCR TrendLine editorial staff would like to extend our wishes to you for a happy and successful new year – full of hope and joy.
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
INSIDE THIS ISSUE:
- Top IT Trends for 2015
- Disruptions in HR Technology
- Employment Trends for 2015 and Beyond
- The New Sources of Talent
- Worker Burnout
- Industry Highlight: Recreational Services Index
- Wisdom Comes From Putting Things Together
- 2015 College Grad Prospects
DCR Trendline December 2014 Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The December issue looks to the future to provide predictions for HR in the next decade, and follows-up on our predictions of workforce trends in 2014. We’re also exploring the dynamics of the candidate-driven recruiting market, the top cities for a positive work-life balance, and the difference between talent networks and talent communities. Our industry focus this month is on aerospace employment and workforce challenges.
The DCR TrendLine editorial staff would like to extend our wishes for a happy holiday season with continued peace, joy, and success in 2014!
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
DCR Trendline November 2014 - Non Employee Workforce Insight ss
This document provides a summary of trends in the staffing industry from the editorial staff of DCR TrendLine magazine. It discusses positive economic indicators including job and GDP growth. The unemployment rate dropped to 5.9% while payrolls exceeded expectations. Several industries added jobs including retail, healthcare, and information. The article also discusses wage trends, bonuses, and forecasts hiring growth in Q4 especially in accounting, finance, IT and seasonal retail positions. It highlights the large portion of the workforce consisting of independent contractors and temporary workers.
DCR Trendline October 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The October edition covers a range of topics, including the latest employment numbers from the Bureau of Labor Statistics and the continued growth of temporary employment. October is one of the most exciting months for sports fans, and it’s only fitting that this edition’s industry highlight is centered on sports-related employment. Our other areas of focus include how the definition and image of employees has progressed over the past decade, the increasing use of social media for recruiting, and on the value of talent supply chain management in meeting organizational talent needs. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at how vendor management systems can help companies fulfill the priorities and requirements of multiple stakeholders while meeting the shared single goal of eliminating complexity to increase operational effectiveness. - See more at: http://blog.dcrworkforce.com/dcr-trendline-october-2014#sthash.jW1AtNaQ.dpuf
DCR TrendLine September 2014 - Non Employee Workforce Insightss
This document provides a summary of the September issue of the DCR TrendLine publication. It discusses several topics covered in the issue, including workplace flexibility in the US, a projected global labor shortage, fast growing metro areas for contingent workers, and tips for engaging Generation Z employees. The last article discusses how HR can be organized to meet global objectives while still taking local actions. The publication aims to provide insights into industry trends through in-depth research.
DCR TrendLine July 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The July edition covers a range of topics, including the latest employment figures from the Bureau of Labor Statistics and the growing utilization of temporary workers across multiple industries. This month’s edition focuses on the Information Technology (IT) industry, highlight trends in the sector and sharing insight into employment and wages. We examine the skill gap in the industry and discuss how companies are attempting to bridge it. We also highlight how predictive analytics are being applied in human resource management and which talent acquisition metrics companies should be tracking. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at the challenges companies often face, and offer tips on keeping CW programs running smoothly.
DCR TrendLine June 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. Our June edition covers a wide range of topics, including hiring plans for small- and mid-sized businesses and contingent workforce demographic trends. Since June is the month of graduations, we take a look at how job prospects are for the class of 2014. This month’s edition focuses on the manufacturing industry, highlighting trends in the sector and sharing insight into wages. We discuss how temporary employment has become a norm not only in the U.S. labor market, but internationally as well. Our feature article this month focuses on an issue that arises when employing temporary workers – compliance – and provides ideas on how to overcome this challenge to ensure peace of mind.
DCR TrendLine May 2014 - Temporary Workforce Insightss
Can you believe it’s already the second quarter of the year? As the year continues to speed by, this month’s edition of TrendLine focuses on trends and predictions in the talent management industry, by looking at what’s buzzing in HR tech and examining how crowdsourcing is playing a role in the temporary staffing market. Continuing on the theme of technology, we peek at the IT job market to see how and where demand for professionals is growing. We also look into our crystal ball to give you insights into what the staffing landscape will look like in 2022. And this month, we conclude our series on the BRIC countries, by taking a glance at India and it’s potential for temporary work development. At TrendLine, we’re always focused on what’s trending in anything to do with contingent worker supply and demand, and on that note are really excited to unveil a new quarterly topic – What’s Trending in the Temp Market? – that consolidates our research into a short list of critical trends in key talent sectors of the staffing industry. Take a look and let us know what you think!
DCR TrendLine March 2014 - Temporary Workforce Insightss
This month’s edition highlights what’s hot for talent acquisition and lists the fastest growing jobs in the country and where they can be found. We also continue this theme of growth by examining the emerging trends driving the increasing use of contingent workforces, particularly in the healthcare industry. And as a continuation of our monthly special feature on the BRIC countries, we turn our gaze to the Sochi Winter Olympics to discover how workers were staffed.
DCR TrendLine February 2014 – Contingent Worker Forecast and Supply Reportss
It’s hard to believe that 2014 is already well underway. In the second month of the year, the staff at TrendLine was hard at work to provide you with key insights into the temporary staffing industry. With thorough research and in-depth analysis of data, we aim to supply you with a pulse of the temporary staffing market. As usual, our articles this month uncover trends in the industry and give you hard, actionable information on contingent workforce supply and demand.
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Reportss
Hello 2014! As we approach a fresh year, the editorial staff at TrendLine is excited to share our analysis and insights into the staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what’s happening in the world of contingent worker supply and demand and talent acquisition.
- DCR National Temp Wage Index
- 2014: What to Expect in the Workforce
- The Manufacturing Revival
- Temp Jobs Continue Steady Upward Trend
- Special Topic: Brazil e-commerce Market Watch
DCR Trendline December 2013 – Contingent Worker Forecast and Supply Reportss
Welcome to the final month of 2013! The staff at TrendLine is pleased to be wrapping up our first full year of publication. It’s been an exciting year in the world of the contingent workforce. In our last issue of 2013 we once again provide you with key insights into the temporary staffing industry. Our thorough research into pivotal trends and current events, along with our in-depth analysis of contingent worker supply and demand, is designed to give you a pulse of the market.
Inside This Issue:
- DCR National Temp Wage Index
- Post Shutdown Impact and Recovery
- OSHA Asked to Further Improve Temp Worker Protections
- TrendLine in 2013
- A Look Back at 2013: Sector By Sector
DCR Trendline November 2013 – Contingent Worker Forecast and Supply Reportss
Heading into the end of the year, after a month full of economic uncertainty and fogginess, TrendLine brings you key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what is happening in the world of contingent worker supply and demand.
Inside this issue:
1. DCR National Temp Wage Index
2. The Government Shutdown: A Crisis for Federal Workers
3. Temp Workers: Just in Time Workforce
4. In Lieu of the Jobs Report…
5. Temp Hiring to Grow in Q4
6. World Watch
DCR Trendline October 2013 – Contingent Worker Forecast and Supply Reportss
This document provides a summary of the fourth quarter 2013 issue of TrendLine, a contingent worker forecast and supply report. It highlights several key trends in the temporary staffing industry, including an expected surge in demand for temporary workers over the holiday season driving increased employment numbers and wages. Articles examine research showing temporary work can increase job satisfaction and an update on OSHA's initiative to expand protections for temporary workers. It also analyzes the declining US labor force participation rate and its impact, such as potentially hiding the effects of discouraged workers no longer counted in unemployment rates.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
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Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
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6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
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20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations