Operational excellence is not just saving money but enabling growth is critical. Operational excellence has the capability to increase efficiency while simultaneously creating a better customer experience — one that is simple, effective and efficient.
- Simple, because it targets specific customers with specific content.
- Effective, as it enables organisations to fulfil the needs of customers.
- Efficient, because it doesn’t require massive investment yet streamlines the entire organisation and dramatically improves operational efficiencies.
The most successful organisation will be those that have transformed their business models to achieve greater efficiency across the operational value chain.
Let’s take one simple example to understand the needs better.
Airtel Black, is a bundle of Airtel services billed together in single bill, Where Customer will get dedicated relationship managers, and priority resolution of faults and issues. Airtel Black host only Post-Paid services, that means customer needs to pay bill at the end of the month.
Quick Question, Whether all customer pays the billed amount? How many customers are paying it post Due Date?
As per industry standards, <1% customers default in each & every billing cycle, whereas ~10% customer requires reminder to make the payment. Every business targets above mentioned 2 numbers, as low as possible. If this is the problem statement at hand, then what all possible solutions?
One basic solution is to send the notification to customer before & after the due date. Notification can be through the Whatsapp, SMS, Push notifications. Phone call, Email. Question, Is the above notifications are send automatically? Is Notification method varies from customer to customer?
In most of the startup middle-office team took ownership to send notification to customers. Data from various portals are fetched to take decision, which notification method needs to be used for which customer. Question, Is this approach scalable? What motivates the middle-office team to continue doing this operation as organization scales? Is this communication synced with front-office operations?
Solving above problem statement using systematic approach, will help in reducing the customer defaults. Which intern will help in reducing the bottom line for an organization. As bottom line reduced, so margins increased, hence Profit increased.
Operation excellence is beyond boosting the top line while reducing the bottom line, achieving operational excellence means organisation will improve the customer experience, become more efficient, and — a factor often overlooked which is becoming more important as talent becomes harder to find — boost employee morale and engagement.