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April 18, 2020

Wells Fargo's 2020 AWARD FINALIST CASE STUDY : Best Achievement in Operational Excellence to deliver Business Transformation.

Read this article about Wells Fargo, Best Achievement in Operational Excellence to deliver Business Transformation, selected by the independent judging panel, for the 2020 Business Transformation & Operational Excellence Industry Awards program.

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Wells Fargo is re-imagining the future of financial services by leveraging innovative solutions to deliver simple and integrated experiences to make it easier for customers to do business and achieve their financial goals. The Treasury Management transformational program is focused on improving customer and team member experiences using 4 guiding principles: simplicity, collaboration, data as an asset, and digital experiences.

The Treasury Management enrollment process had been fragmented and time-consuming with extensive documentation, repetitive manual entry, and multiple touchpoints for all involved. Wells Fargo Treasury Management team members came together and created the dynamic sales order form to serve as a new, interactive enrollment tool, which allows information needed for implementation to be gathered in a simplified and streamlined way for customers and team members.

The dynamic sales order form provides a digital experience that asks for information in a user-friendly way, leveraging a data management model that indicates what is needed from a customer upfront. The tool reduces required data inputs from 500+ entries to 18. By eliminating unnecessary questions, prepopulating fields, and pulling existing information from internal systems, Treasury Management Consultant team members are able to better focus on customers’ strategic and complex needs, quickly configure products, and streamline the ordering process.

Once the required information is collected, the dynamic sales order form automates business processes to save time and reduce errors. The tool is able to systematically push data to the associated downstream systems and leverages Robotic Process Automation (RPA) technology to reduce manual steps, ensure customer information is correct, and reduce re-keying of information between systems. For example, it creates electronic recordkeeping to systematically capture, store, and submit credit approval request details. The manual process to generate required legal documentation and the product enrollment form has also been automated, eliminating the need for a Treasury Management Implementation team members to spend multiple hours assembling and populating the documents. The process to build products and services requested by customers is now automatic. This technology brings efficiency to approval processes, delivers documentation to customers in a timely fashion, and provides customers with the services they requested in a faster timeline. These enhancements also reduces the number of people involved in the value chain from 5 to 1-2 and minimizes exchanges to gather subsequent information.

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Finally, the dynamic sales order form provides more transparent details to team members and customers. Treasury Management Consultant team members are able to easily share information about the order with Relationship Management and Implementation team members as well as details on required next steps. The tool also allows Treasury Management team members to share a detailed receipt to customers, showing what they have requested and are in the process of enrolling in. A Treasury Management Consultant using the dynamic sales order form called the tool “user friendly and easy to navigate”.
Wells Fargo Treasury Management believes digital experiences like the dynamic sales order form will ultimately improve customer satisfaction and allow team members to focus on customers’ more complex needs.

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About the Awards

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.

 

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The issues in this article are just one of topic areas that are going to be discussed at the Business Transformation & Operational Excellence World Summit & Industry

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 Awardswhich 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.

 

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Speakers

Agenda

BTOES Awards

 

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,

Click here to schedule a call. 


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