Product category:
Customer relationship management software (CRM)
News Release from: eg Solutions | Subject: Eg work manager
Edited by the Manufacturingtalk Editorial
Team on 13 March 2006
Fact Based Management At Morgan Stanley
Eg work manager promotes an active style of management and provides data on: quality; service standards; staff skills; work throughput; available resources; productivity and unit costs.
In the UK, Morgan Stanley offers a range of consumer finance products including credit cards with competitive rates They also offer on-line account management and premier customer service with no annual fee
This article was originally published on Manufacturingtalk on 7 Nov 2003 at 8.00am (UK)
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At its credit card operations centre at Cumbernauld, near Glasgow, Morgan Stanley employs more than 600 staff and offers a 24 hour service, 7 days a week, 365 days a year.
Familiar with performance measurement tools from previous experience, the senior management team at the Cumbernauld operations centre approached eg to introduce an Operations Management Information (Operations MI) system, which would enable them to measure performance and improve productivity across all its divisions.
Although financial savings are always a benefit, Morgan Stanley's primary objective was not to cut costs but to ensure the centre stayed within service levels by gaining a greater understanding of fair and balanced workloads, along with the number of staff needed to deliver high quality service in an efficient and effective way.
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Senior management wanted to be able to answer the questions - how do we meet customers' expectations? How do we ensure adequate staffing? How do we know what is the right level of training for any one member of staff? In essence they wanted to apply science to the numbers used to manage the business processes.
eg conducted a site survey to establish the current status of the contact centre and to identify the requirements needed to achieve senior management's objectives.
The teams/departments at Morgan Stanley, Cumbernauld cover:.
* Customer service.
* New accounts.
* Chargebacks and Disputes.
* Banking Operations.
* Fraud.
* Customer assistance.
* Financial management control.
* Loans.
As a result of the site survey, eg highlighted the need for consistency in the Operations Management Information (MI), used at senior management level and proposed the implementation of eg work manager - a real-time work management and performance tool.
Designed to provide the information Managers and Team Leaders need to effectively manage workloads, eg work manager promotes an active style of management and provides data on: quality; service standards; staff skills; work throughput; available resources; productivity and unit costs.
Prior to implementing eg work manager, Morgan Stanley had inconsistent MI across its divisions.
In areas such as the number of arrears or new accounts, the data was calculated differently to other departments, which meant management did not have consistent parameters with which to review and reward performance.
Following the site survey, eg tailored its training and development programme for Team Leaders and Managers - the eg principles of production management - to focus on Morgan Stanley's key objectives.
Incorporating the eg process for managing, a 7 step model to provide a consistent approach to actively manage work, the programme trained Team Leaders in how to use the improved Operations MI to manage more effectively and to ensure benefits were delivered.
The training and development programme also included best practice use of eg work manager and reinforced the company's desire to achieve greater control on workloads and to base management decisions on factual data.
Senior management at Morgan Stanley also wanted to have the skills within the company to ensure a culture of continuous improvement for sustainable ROI.
Morgan Stanley's key staff worked alongside eg Solution Advisers during the implementation programme, ensuring skills transfer in eg work manager and the eg principles of production management.
eg also provided staff with a framework so they could apply their knowledge effectively, transfer skills and ensure ownership within the company after the project was launched.
Through the implementation of eg work manager across all its contact centre teams, Morgan Stanley achieved consistent Operations MI regardless of section or skillset.
This united the teams and with the support of the principles training, Team Leaders and Managers also had a shared understanding of how best to use the MI available to them.
With the ability to view workloads across the centre, eg work manager has also enabled senior management to move resource flexibly in line with peaks and troughs.
Following the rollout of eg work manager, Morgan Stanley achieved its objective of harnessing fact based information on which to make its management decisions.
This enabled Managers and Team Leaders to have greater control on the workloads and in some instances it led to redeploying or recruiting extra staff to manage the work within the desired service and quality levels.
Staff are more motivated as they can now clearly understand the basis of their targets and see their achievements.
The project also contributed to reducing the cost of processing in one key service area by 70%.
As a result of the information provided by eg work manager, Morgan Stanley has been able to introduce a range of incentive schemes.
Based on the information collated on eg work manager, staff can work towards targets set against several factors including effectiveness, quality and product knowledge.
The success of the project has led to eg working with Morgan Stanley to integrate eg work manager with its existing systems, such as Power Dialler, to combine Management Information into one set of data, whilst at the same time, removing duplication of effort or reporting.
Colin Rutherford, Assistant General Manager, Morgan Stanley said, "It was the best client/adviser relationship I have seen.
The difference with eg is the quality of their Solution Advisers.
They understood our business and the personalities within it very quickly.
This was vital to ensure a quality implementation.
The eg process is non-threatening.
The eg Solution Advisers were outstanding in overcoming any reluctance to the benefits of the new system, which speak for themselves.
Morgan Stanley aims to be an equitable employer and now we have the numbers to ensure workloads are balanced, as well as to monitor individual performance, identifying any training needs that may arise.
"The difference with eg is the quality of their Solution Advisers.
They understood our business and the personalities within it very quickly.".
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