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Creating Flow with Metrics

26th October 2020

When your business already has tried and tested systems and processes in place, it can sometimes be hard to take an objective step back and see how they can be improved.  

Our client Mike was experiencing this exact problem in his business. Mike runs a data processing company and has multiple teams of people who process online loan applications.  

Each loan application passes through set stages before a final decision is given to the applicant. 

For every application... 

  • Data is entered online by the applicant then, because a wet signature is needed, it’s signed in the local office
  • The signed form is then sent to data processing
  • Forms are then matched to the physical signed document
  • ID verification and money laundering checks are completed
  • Risk assessment is carried out and a recommendation is given
  • The application is then passed to the decision maker for a final decision
  • Finally, a decision letter is issued to the applicant and local office

Each week Mike and his Senior Managers look at the number of loans processed, overall hours spent and the processing time per application. As a team they’re really keen to increase the number of daily applications processed but they just can’t see what can be done to improve the system they have.

Mike knew that they needed a fresh set of eyes and a new perspective, so he called Grant Jones to come in and work with him and his Senior Managers. 

Seeing things through fresh eyes

When we sat down with Mike and his managers, we looked at their whole process in detail from start to finish and suggested a few key performance indicators for them to measure.  

By looking at this metrics they quickly noticed where their process was sticking and needed more attention.  We then helped Mike and his team look at each step in their process to understand what was happening and how it might be improved. 

A few key adjustments are all it takes

Mike and his Managers decided to take a ‘lean’ approach. They set new goals which encouraged everyone to focus on getting forms to the end of the entire application process sooner, rather than working in silos focusing on completing their specific part. 

We also helped each team create visual boards showing how they’re performing every day. Visual boards are a great tool for helping everyone to clearly see where each application is at in the process and where any holdups are occurring.  

Adding in these few metrics and KPIs helped Mike and his Senior Managers measure their team’s performance in a more effective way. Across the company everyone is now committed to making the process better, which is the desired outcome Mike wanted for the business.  

If, like Mike, you understand the power of a fresh set of professional eyes and are ready to make some changes in your business, give us a call – we’d love to talk through some option with you.


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