In an outsourced financial services operation, service level performance had slumped to 30% compared with a commitment to deliver 95%. With a four month backlog of queries from customers and suppliers, and without prompt remedial action, there was a very real risk of legal action or potential breach of FSA regulations. Resolving late payment of creditors was a priority; staff attrition of 65% was not only causing poor morale, but lead directly to an increase in complaints.
In this six month assignment Kalyan reduced staff turnover to zero, restored headcount to the appropriate levels, ensured that the regulations were met and that no legal action was started by suppliers. Furthermore, the implementation of best practice resulted in an £800,000 refund from the VAT office, providing the organisation with a significant ROI on the assignment as well as a training program. Newly documented processes ensured ongoing success after the assignment ended.
