Using Kiran’s workforce optimization (WFO) solutions, retail banks can put the right staff in the right financial centers (branches or stores) at the right time.
Workforce Optimization Delivered
The WFO process involves an interrelated set of sub-processes from forecasting customer arrivals and transactions to workforce planning and scheduling.
Specifically designed for retail banks, Kiran Analytics WFO solutions help:
- create accurate transaction forecasts
- determine optimal staff position mix and staffing levels to achieve target service levels,
- generate weekly labor schedules for all branches in the network to ensure staffing capacity is matched to market opportunity and sales goals.
Kiran’s workforce optimization solutions utilize data from Banking Transaction and Information Systems, Human Resource Management Systems, and Kiran’s In-branch Observations. In addition, our models take into account customer segmentation, arrival patterns, sales goals and the unique attributes of each branch in the network.
The WFO process requires cross-functional collaboration from line of business leadership to branch management, from finance and Human Resources to Information Technology. Our solution enables alignment across all functions and ensures successful strategy execution.
Users of Kiran’s WFO solutions include:
- Resource planning and scheduling managers
- Region and market managers
- Branch managers
- Branch staff members (personal bankers, universal associates, customer service representatives, tellers)
Workforce Analytics Software Applications
The three main functions of Kiran’s WFO solution are Workforce Planning, Resource Alignment, and Labor Scheduling. These functions are delivered via our Software-as-a-Service platform and applications:
Kiran’s Forecaster and Scheduler software applications are driven by descriptive, diagnostic, predictive, and prescriptive analytics. Outdated WFO software and models produce unreliable and inconsistent recommendations that lead to over- or under-staffing. Kiran’s innovative solution has the intelligence to avoid over-optimization focused exclusively on efficiency while matching selling capacity with market opportunity.
Contact us today and find out why leading retail banks are choosing Kiran Analytics as their workforce optimization partner.