MTFX is a leading FinTech Company with a 23-year track record in the foreign exchange and international payment industry. MTFX powers payments for more than 5,200 corporate clients internationally in just about every business category. MTFX’s client base includes small to medium-sized companies, large multi-national corporations, law firms, educational institutions, charities and banks.
Aside from not providing a superior customer experience, the company found too many of its work processes were person-dependent. That is, without a specific person available, processes came to a halt. While internal and infrastructure aspects of running the operations were very much process-based, they were not process-driven or managed. Specifically, there were:
- No performance metrics or measurements of any of the process steps or for any of the many people responsible for affecting their execution.
- No standard process maps or information flows upon which to build a management metrics database.
- No standard or at least modelled process times for an entire quote/buy/fulfilment cycle, for any one point in the cycle to another, or within any single process activity. Things just happened, and pressure was brought to bear on the staff to correct problems that arose but not to identify and eliminate the root causes.
- All of these made for a very inefficient internal operation and consumed excessive amounts of time creating or reinventing an Adhoc process. And the squeakiest wheel always got the grease, which often became a matter of who had the most grease.
We were brought in to define, automate and quantify various processes across the organization. The goal was to improve several customer-facing processes while teaching the teams how to automate processes and systems within the organization. One of the goals associated with each process was to ensure that the company’s clients and its own operations staff knew at all times the status of all activities associated with different business operations. And from the internal operations perspective, all personnel would know precisely their own roles and responsibilities and each other.
Four critical processes were targeted for improvement
We defined the deliverable for each of the four processes to consist of:
- Fully documented process maps of the entire process flow, from start to finish.
- Process maps that would identify the individual activities and include cognizant department responsibilities, action to take, when to do it, links to upstream and downstream activities, and would reference all supporting documentation, and identify any customer contacts that were required.
- Time-line charts for the entire process, standard process times for each activity and wait or queue times between individual steps.
- By leveraging APIs and SharePoint functionality CODEVISION developed an integrated and activity-based task management solution to not only optimize but track and measure business process capabilities within the entire organization.
Upon completion of our new process-ready solutions, MTFX is now able to measure process cycle times for various processes across the business. Having more effective and efficient processes integrated through APIs into an activity-based engine on SharePoint has helped the company significantly over the last six months.
“Ashish and the CODEVISION team are exceptional. Their attention to detail, focus on delivery and work product are excellent. We continue to use CODEVISION for numerous projects within our organization.“