Decrease MIS-Reporting Cycle Time

The Private Banking Management Accounting (PBMA) division of a major bank was mandated to provide accurate, reliable, transparent and timely information for supporting the decision-making processes, internal and external reporting and consistent performance measurement.  However, the IT tools and processes were inefficient and produced defects. After validating the Voice of the Customer, the project team redesigned and consolidated IT tools and eliminated shadow files. This resulted in a more than 80-percent reduction in production cycle time, and a defect-rate improvement from 3.6  to 4.2 sigma.