Business Benchmarking Reviews

Organisations are under increasing pressure to outperform their peers; driving profits for their shareholders and delighting their customers, whilst at the same time containing costs, reducing risk and remaining compliant with the regulators.

How fast and how far an organisation transforms depends on its appetite and ability to continuously improve the end-to-end business in harmony, so everything remains in sync, whilst moving in a consistent direction. To truly succeed, this transformation must be an aligned strategy focusing on the opportunities which deliver the greatest value to the business and its customers.

Help is at hand

We recognise that no two organisations are identical. Every business is on a slightly different journey, with different priorities, ambitions and staring into different challenges. What most organisations do share however is one challenge in particular - change and transformation, it’s not easy.

To help organisations with the evaluation, scoping and planning of a change / transformation, we have developed a comprehensive Business Benchmarking Review service built on a flexible framework, which can be applied across the end to end business / lifecycle, or targeted to a specific element / component.

How Experian can help

Identify value creation opportunities
Present high impact, quick wins along with phased, strategic road maps
Achieve operational efficiency through automation increase
Enable a best practice environment to drive and sustain continued growth
Satisfy regulation and internal risk policy compliance
Evaluate & benchmark current performance against industry peers
Deliver Advanced Analytic solutions across the lifecycle or review existing models and scores

The review approach

The review is facilitated by expert Business Consultants with years of experience working with a wide range of global and national organisations of all different sizes, spanning banking and finance, telco and utilities. The review is conducted onsite and follows the approach below.

1. Define

Work with the client to understand drivers, scope, objectives and agree on approach.
Ensure the review will address the needs and outcomes.
Understand any anticipated constraints, risks or challenges.

2. Discover

Meet with staff across the target business area.
Conduct observational analysis to assess and understand.
Identify and validate areas of opportunity.
Gather data points to understand current state.

3. Prepare

Overlay observations from previous activities with a data-driven assessment of existing business performance, strategy and collector effectiveness.
Opportunities are mapped in line with business goals and drivers.

4. Present

Information collected in the review activities is combined with a global best practice view.
A roadmap of actions and recommendations tailored to support business goals and objectives is provided.

Areas of focus

Expertise across the customer lifecycle

Our consulting teams offer a wide range of services across the customer lifecycle, from strategy and operational consulting provided by our expert Consultants, to custom analytics and decision support provided by our Analytics Consulting team.

We help clients create meaning out of their data, transforming that information into insights organisations can understand and use to address critical business issues and goals.

The framework

The review framework focuses on four key disciplines. Every review is tailored to meet the agreed target objectives outlined by the organisation.

Driving value through a thorough review of

PEOPLE

PROCESS

DATA

SYSTEMS

to identify actionable opportunities for the client

Right sized teams
Scale and flex options
Performence management
External partnership usage
Knowledge and culture
Service levels

Industry best practice
End-to-end processes
Alignment across portfolios
Segmentation and treatment
Compliance and regulation
Channel management

Up / down stream integration
Internal vs external data
Data quality
Models and scoring
User-based screens
Audit and traceability options

Decisioning and operational system
Consumer facing systems
Use of bespoke / non-core system
Technology performance
Agility and flexibility

The framework

The review framework focuses on four key disciplines. Every review is tailored to meet the agreed target objectives outlined by the organisation.

Driving value through a thorough review of people, process, systems & data to identify actionable opportunities for the client.

PEOPLE PROCESS DATA SYSTEMS

Right sized teams
Scale and flex options
Performence management
External partnership usage
Knowledge and culture
Service levels

Right sized teams
Scale and flex options
Performence management
External partnership usage
Knowledge and culture
Service levels

Right sized teams
Scale and flex options
Performence management
External partnership usage
Knowledge and culture
Service levels

Right sized teams
Scale and flex options
Performence management
External partnership usage
Knowledge and culture
Service levels

People

A key differentiator to any business is its people, how they perform and the level of service they provide to customers. During the review, we will meet with key personnel within the business / team to understand items including, team sizes, performance and incentive structures, partnership usage and management, skill levels and knowledge.

Process

Organisations are required to react quickly to the immediate challenges / risks, which often over time results in misalignment / divergence of process as well as sub optimal manual processes which introduce inefficiency and risk. We will explore the key current state processes, focusing on opportunities for simplification and straight through processing, alignment and automation, whilst remaining compliant and reducing risk.

Systems

Technology is a key enabler for any organisation, as it allows the business to do more with less, provide agility and flex options, and most importantly provides a safe and secure platform. The review will focus on areas including; the systems in place, how they interact with each other, the health and performance, how they contribute to an optimal end user and customer experience.

Data

Managing and operationalising the ever-increasing amounts of internal and external data (through analytical insights and decisioning) is more important than ever before. During the review, we will explore how the organisation captures, cleans, stores, transports and uses the data assets to provide compliant solutions as well as an exceptional experience to their customers.

Deliverables

The overarching purpose of the review is to provide an outcome-focused actionable set of opportunities presented alongside a proposed approach. Upon completion, we will produce and present the review (this includes the summary, findings, associated risks and opportunities).

One of the key deliverables in the review is an actionable implementation roadmap which highlights the quick wins vs strategic initiatives as well as a Value Map which outlines the dependencies to each component. The organisation can use this information to plan their transformation. Contact us to discuss how an end-to-end business review can help your organisation to identify opportunities across the customer lifecycle.

Advanced analytics

A key element of any continuous improvement initiative is measurement; our Analytics Consulting team offer a wide range of services, from custom analytics, scorecards, machine learning models, scorecard monitoring, optimisation and benchmarking using industry and bureau data. We are the leader in helping clients create meaning out of their data, Experian's information and other data assets, and transforming that information into insights organisations can understand and use to address critical business issues and goals.

Achieve better qualification, approval and take-up rates
Implement more effective score cut-off strategies and policy change recommendations
Reduce delinquencies and bad debt, while increasing booked accounts
Effectively manage and retain existing customers

Our analytics services and solutions can be standalone or incorporated into our Business Review Framework.