- Industry: Banks & Credit Unions
West Monroe Partners, a North American business and technology consulting firm, today announced the release of FLEXwfm™, a proprietary workforce modeling tool designed exclusively for front and back office operations at banking centers.
“We saw a huge gap in the marketplace between manual tools and overly complex integrated applications with hefty price tags,” says Bryan Slepian, senior manager of the Workforce Optimization practice at West Monroe Partners. “FLEXwfm™ provides detailed analytics essential for making optimal staffing decisions delivered in a cost effective platform that can be implemented in a matter of days.”
Custom configured with a client’s process, productivity targets and volume arrival patterns, FLEXwfm™ helps banks effectively manage workflow, meet increasing customer demands, decrease costly overtime wages and improve budgeting and forecasting. It offers key benefits, such as: reducing customer wait times, increasing productivity by 10-25% and accelerating time to revenue by 15% without supplemental staff.
FLEXwfm™ was built on the Microsoft Azure cloud platform to maximize efficiency, speed to deployment and a quicker return on investment.
“More and more we are seeing companies turn to cloud-based systems to ease the burden of implementation and reduce cost,” says Jerin May, director of Technology Services at West Monroe Partners. “Like many of our banking clients that are gravitating towards the cloud platform, we also leverage this operating model. Offering both the security and the flexibility demanded by the industry, we can now deploy almost immediately across one branch or hundreds,” continues May.
Key features enable the end user to:
- Easily build staff schedules with a visual interface and drag and drop functionality – customized graphical output provides immediate feedback on service levels and employee utilization
- Analyze customer and employee impact with scenario modeling capability
- Associate and prioritize job roles with more than one function
- Account for reduced productivity for new hires
- Update data quickly and easily as input variables change
- Use the formula builder for dynamic volume drivers
- Built using the Microsoft .Net Framework
- Deployment options include Microsoft Azure cloud and on-premise
FLEXwfm™ is part of West Monroe Partners’ FUSION solution suite, a proprietary workforce optimization methodology that helps banks establish new scheduling strategies, gain intelligence into existing operations, evaluate improvement opportunities and implement solutions that optimize their workforce and operations.
The West Monroe Partners team has more than 25 years of experience implementing workforce optimization solutions for companies of varying industries with over 500 implementations completed across North America and an average of 25% productivity improvement.
About West Monroe Partners
West Monroe Partners is a North American, full-service business and technology consulting firm focused on guiding organizations through projects that fundamentally transform their business. With the experience to create the most ambitious visions as well as the skills to implement the smallest details of our client’s most critical projects, West Monroe Partners is a proven provider of growth and efficiency to large enterprises, as well as more nimble middle-market organizations. Our more than 300 consulting professionals drive better business results by harnessing our collective experience across a range of industries, serving clients out of offices across the US and Canada.