Read this article about Cognizant, Best Achievement in Operational Excellence to deliver an outstanding Value Creation or Innovation Execution project, selected by the independent judging panel, for the 2020 Business Transformation & Operational Excellence Industry Awards program.
Innovation has been the driving force behind many successful companies. It is why the majority of businesses invest heavily in it. However, in order to release all the innovation the time to market is crucial. Time to Market (TTM) is the duration needed to bring a product to fruition. This includes the generation of an idea for the product; its whole design cycle; development, and launch on the market. The more streamlined and effective the product development process is, the better is the ability to reduce the time to market. Maps as a product is used by millions of users worldwide for their day to day life, it is very essential for one of the largest provider to roll out the new version of maps to have a competitive edge/share on the market. To make sure we meet the timelines, the team worked on 4 big leavers .
We leveraged the Agile and Factory Model established for Planning and day to day operations, where we leveraged volume inflow on each stage and the learning curve of the associates to improved the productivity month on month. This was also influenced by an incentive plan model. An efficient workflow was designed to do away with handoffs, cuts down on time wastage and reduce down times, thereby improving productivity by 10%. The second play was on reducing inflow volume, We focused on the processes that have high% of transactions where no edits are required (NAR%). These transactions were analyzed, root cause identified for their generation with the help of GIS team and then were eliminated through Straight Through Processing. As a result, we were able to reduce volume for those process by 47% & 8%.
Third Lever we worked on Client provided tool and Automation, which had limited opportunities for deployment of Cognizant in-house developed automation bots. Despite those constraints we have helped client identify 12+ automation / bots within their tool like validation of address from source, identifying & assigning ranges to segment which reduced cycle time of transaction by 5%. We build in 151 QC automation check to enhance the produce quality, which eliminate 8% of rework reduction and time to completed the product. The fourth lever that we used was reducing High Cycle Time through Lean principles. VSM & L4 mapping done to identify NVAs. Muda helped in identifying areas doing extra processing like digitizing awning & porches, working at higher zoom level. All this helped in improving productivity by 7x and 1.5x for two processes.
For the client we were able to save USD 2.2 MM with an FTE benefit of 314 FTEs. With 12+ automations/Bot, reduction in rework, efficient planning and feedbacks for NARs, helped us reduced Time to Market by 29 days and achieve the goal of delivering US by Sept 2019 instead of Dec 2019.
The Business Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs. Click here to view the Press Release.
The winners will be announced at the Awards Ceremony at The Business Transformation & Operational Excellence World Awards (BTOES) on Wednesday, March 25th, 2020, from 6.30pm in the Venetian Ballroom at the Loews Portofino Bay Hotel at Universal Orlando Resort.
The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Operational Excellence programs to deliver outstanding business results.
The Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit, BTOES 2020 in the beautiful Venetian Ballroom on March 25, 2020 at the Loews Portofino Bay Hotel at Universal Orlando™️. Click to access the agenda, view the current speakers, and watch the highlights video from last year.
BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.
It also hosts the Business Transformation & Operational Excellence Awards, which showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs.
The summits hosts a number of private forums for C-Level & Global corporate-level leaders as well as business unit heads.
With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level.
There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.
The agenda is designed to encourage active meaningful conversations though all day enhanced networking and interaction opportunities, including
All-day Refreshment & Themed Breaks
1¼ Hour Hot Breakfast Networking Sessions
1½ Hour Hot Plated Networking Lunches with Topic & Industry Sector focussed tables
1½ Hour Roundtable Sessions by Topic & Industry Sector.
Keynote & Themes Panel Sessions
Hosted Welcome Receptions from 5.30pm
Expanded more lavish Awards Program
Newly launched Night Summit for attendees to meet after dinner
For more information or to discuss the summit in more detail please schedule a call below,
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