Reduce Labor Costs by Increasing Forecasting Accuracy
Forecaster enables you to accurately model channel migration, trends, and the impact of strategic initiatives, such as new product introductions. Kiran’s patent-pending, hierarchical forecasting technique uses network-wide transaction volumes in identifying trends and seasonality for each activity. This technique vastly outperforms traditional time-series methods, especially when the volumes of activities are low – as they often are on the platform side of retail banks. By using innovative predictive models of Forecaster, retail banks can generate far more accurate long term and short term forecasts. Savings can add up to $20,000 per branch per year in labor costs.
Improve Sales Effectiveness and Customer Service by Managing Wait Times
Forecaster utilizes Kiran’s patent-pending resource forecasting models and converts transaction forecasts to resource forecasts. Furthermore, Forecaster predicts the distribution of service times with far greater accuracy than alternatives. By right-sizing the workforce and allocating the correct amount of staff in half-hour increments, Forecaster helps you reduce wait times, increase customer satisfaction, and increase sales effectiveness.
Align Strategic Goals and Capacity Plans with Tactical, Day-to-Day Staffing
Where other solutions decouple strategic and tactical forecasts, Forecaster integrates them with one set of models that are, by their design, reconciled. What you get is a seamless and automated staff modeling solution. The constrained service level model of Forecaster maximizes service level for given FTE and forecasted customer patterns. It generates a smoothened forecast which is ready for scheduling. The key benefit is the alignment between strategic (planned) FTEs and actual scheduled FTEs.
Key features of Forecaster include:
- Short-term and long-term forecasting of customer transactions
- Capacity planning for all roles in branches
- Tactical forecasting for teller and platform roles
- Extensive automation and what-if capabilities
- Fast execution of all forecasting processes
Call Kiran today and learn why leading retail banks are switching to Forecaster to increase their workforce optimization accuracy and efficiency.