Business Improvement Techniques

Service industry activities represent an important source of potential productivity improvement. We know that in the financial services sector, waste and inefficiencies in service flows can lead to long response times, poor service and customer quality problems. The result is high but hidden costs.

The solution

CTP’s Business Improvement Techniques programme – going “Lean” - is a means of improving business performance in an organisation through continuous improvement techniques. Lean is just another word for a common-sense efficiency-based approach to structuring your business processes and forces your company to take a more detailed look at internal data flows and to evaluate the company's position in its market. B.I.T calls for defining your company goals based on customer needs and product focus. It’s a methodology that helps you improve your morale, quality, delivery and cost, and particularly productivity – it’s aimed at transforming corporate culture.

CTP can help you introduce a Lean culture, cut costs and increase efficiency by running B.I.T. programmes in your company. We provide practical support: dynamic delivery to transform your talent and business. Tangible cost savings can be identified within sixteen weeks of starting. Employees can even be NVQ qualified. Click here for programme details.

The term Lean is relatively new. But the basics of Lean and B.I.T. are rooted in the automobile industry, dating back to Henry Ford by way of the Toyota Production System and GEC’s Six Sigma Quality System. But today's Lean proponents emphasise that the skills learned transfer readily from one industry to another, and Lean processes can be applied at all levels of the business.

The benefits for the financial services industry

Bottom-line improvements are usually the key driver in company decisions to adopt B.I.T. principles. You will see measurable, concrete results almost immediately. However, there is another great benefit for companies working in a regulatory framework, such as the financial services industry.

Lean practices make it inherently easier to comply with regulatory mandates, and they provide the information needed to make decisions on questions of the best way to meet the outcomes the FSA is looking for rather than slavish adherence to process. The principles are very robust and can apply across a wide range of businesses and to any application within your company.

“You definitely become safer with standardised processes,” Jayne Owen CEO of CTP says. “Your company becomes more structured and based on best practices. And, operations based on best practices tend to be inherently safer,” she explains.

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