Resource Alignment

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Resource Alignment Challenges of Retail Banks

For retail bank executives, one of the biggest challenges with branch transformation is the ability to answer difficult questions quickly, accurately, and credibly. Questions such as “How are the customer service levels and costs impacted by allocation of various resources?” or “How do we staff for different branch formats?” require proper alignment between strategic capacity planning, tactical forecasting, and scheduling.

Pain = strategic (planned) FTEs and actual scheduled FTEs are not aligned.
A common source of resource misalignment is the unconstrained tactical forecasting method used by most banks. This ‘perfect world FTE forecast’ method is not realistic. Another cause for misalignment occurs when the forecasted FTE levels are not realistic for scheduling purposes because the forecasting solution does not provide a smoothened output for scheduling.

Challenges With Transaction Forecasting Accuracy

Some retail banks still use staffing models that rely on teller transaction counts as proxies for platform staffing. The problem with this approach is that declining teller transactions are not a reliable source of data for forecasting platform transaction volumes. Given the declining levels of teller transactions, staffing the platform based on teller volumes can cause banks to miss revenue opportunities.

Increase in customer wait times at the branch is a key indicator of under-staffed periods which usually results from resource forecasting models that use erroneous service time distribution models. The impact is poor customer service and lost sales opportunities.

Productivity Challenges With Branch Staff Modeling

Today, most retail banks use outdated software tools that waste time and money for branch staff modeling. Forecasting runs take days to run. Model data import, model output generation, and validation are manual, tedious, and error-prone. Conducting what-if scenarios to align resources and generating reports for multiple uses are difficult and time consuming.

Best-in-Class Resource Alignment Solutions for Retail Banks

Robust and efficient resource alignment solutions should:

    • Use constrained forecasting methods and align strategic, tactical, and operational plans
    • Forecast transaction volumes with precision
    • Predict distribution of services times accurately to minimize customer wait times
    • Provide smoothened resource forecasts for scheduling
    • Automate data imports
    • Perform data validation of all imports and forecast outputs
    • Monitor the forecasting engine and provide notifications
    • Provide easy-to-use interface for setting up what-if scenarios
    • Track which inputs were used for historical forecasts runs
    • Enable ability to roll back data

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Strategic Capacity Planning Driven by Predictive Analytics


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