OPEX.GURUValue for Many

Our Agenda for Today

IntroductionOur Welcome Message for you

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Who we areMeet who are behind the curtain.

Our ServicesWhat we do

Our View on Your IndustryIllustrative Insights for you.

Get in touchWe want to hear from you

Introduction

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Our Motto: Value for Many

Everyone that works in the business of innovative services has a desire to create amazing customer experiences and

deliver excellence in business outcomes. Being great at what you do is the cost of entry with clients in digital

business of 2015 , what tends to get OPEX.GURU hired is fit. When talented people fit well together they produce

some pretty impressive stuff. We always insist our clients/partners to put the right people with the right skills on the

right projects.

OPEX.GURU uses multiple tools & techniques to review processes, strategy roadmaps, bring out of box ideas to

ensure our clients continue to be leaders in their core capabilities. All this is done in an easy non-intrusive way. It’s

fun, as it should be. We spend so much of our life working that we’d best enjoy it.

OPEX.GURU

There are no

secrets to

success. It is

the result of

preparation,

hard work,

and learning

from failure.

Colin Powell

Can OE offer the BREAK THROUGH?

Confidential6

How big organizationscommunicate for governance?

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What’s Happening?www.opex.guru

Principles of OPEXGURU FrameworkValue Protection

• Map the process

• Identify operations that consume max resources, time & assets.

• Establish standard operating procedures

• Assess Process Capability & Yield

• Roll Production/Capacity Plans

Value Assurance

• Drive fiscal & operational discipline

• Monitor Plan vs Actual, Develop responses for significant variations in input & outputs

• Redesign workflows to eliminate costs/errors

• Optimize performance by reducing variations

Value Creation

• Focus on Operations with highest potential for growth, innovation

• Create and Execute on New ideas ( e.g. future systems and structures)

Visualize the Network

• Envision Value Network for maximal advantage of cost or competitive value to enterprise.

• Understand Value beyond cost of operations.

• Collaborate with partners, suppliers through integrated PI councils for risks & opportunities.

Operational Excellence

Confidential8

OE Framework In Continuum

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Inputs Process Outputs

Process

People Speed

Technology

Eco System

Quality

Agility

CVP Value

clarify

Structure

Set Norms

EvaluateImprove

Connect

Control

What’s Happening?

Process Maturity Framework ( not exhaustive)Value Protected Value Assured Value Created Business Transformation

Service Delivery SLA met consistently Reduced Variation Operational Efficiency Delivered

Operational Effectiveness Delivered & acknowledged by client

People Resources certified on skills, productivity at par with goal but with variation

Resources cross skilled & reduced variations in productivity & quality

FTE released oradditional tasks absorbed with same HC.

Resource trained & certified as Analyst orCoordinator

Knowledge Management

Process Information & exceptions are well documented.

Process Audits are satisfactory as changes if any are documented.

Process Insights on threats & opportunities are published with recommendations

Benchmarking of process with Best of Breed is completed with recommendations & impact

Tools & Technology

Technology Architecture as transitioned is supported & functioning.

Tool Audits are satisfactory & changes if any are reported,analysed and approved.

Standard Reporting & Workflow tools introduced forstandardization.

Client’s technology roadmap is analysed & collectively planned for self servicing tools etc

Risk & Compliance

Existing data security & compliance standards are adhered.

Compliance Audits are satisfactory. Effective Monitoring & Controls in place.

Best in Class risk and compliance framework is proposed to client.

Collaborate with client , partners & suppliers to reduce total cost of compliance while improving reliability.

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Who we areMeet who are behind the curtain.

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Meet Anil BakshiThought Leader

About Anil BakshiFounder

Strategic Mindset

95%

Process Innovation

90%

Future Focused

75%

Change Management

80%

Skills With 20+ yrs of experience in systems & management audits, problem solving

methodologies, I have worn various hats as a subject matter expert in Finance

Shared Services, a trainer & mentor for six sigma projects, a process engineering

consultant on Customer Experience driving standardization & innovation and

running the sales operations of $700M reverse logistics business for Dell.

Some of my success stories include deploying BPMS across 3 financial centers,

driving change the business agenda at Dell to Redefine costs, Re-Energize

Employees & Clients and Re-generate value while transforming contact centers into

a profit center. My last role with corporates was with Accenture as VP-Quality &

Innovation for a 8000+HC multi domain BPO.

While Lean & Six Sigma are function agnostic, I have been engaged in re-

engineering efforts in Finance value streams of Record to Report, Order to Cash,

Procure to Pay using creative breakthroughs and incremental improvement

techniques.

Our ServicesWhat we do

Our Offerings14

Innovative & Execution Focussed.

Process Analytics

Unlocking & exploiting Value from

data and processes. Rebuild reporting

processes & scorecards with bias

towards action than commentary.

Client Centric Insights

Unlocking the value in your customer

data to grow revenue & margins.

Increasing the revenue you get from

your best customers.

Transforming CE to Build Loyalty.

Trainings

Employee Engagement through

training/workshop facilitation on key

methods/quality concepts and

certifications,

Process Redesign & Innovation

Drive Best Practices. Benchmarking.

Complexity Reduction initiatives. Solution

Redesign with Workarounds/IT solutions.

We're a team that believes in the power of strategic design thinking coupled with hands on execution.

Multi-faceted in our experience, we bring a variety of skills and methods to every project we take on,

and we're flexible in how we apply our methodology to drive the results our clients want to see.

We're practical, direct, creative, collaborative, and we love what we do.

Some F&A InsightsFor Illustrative purposes only

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Data Exchange

• Data integrity might be intact but the transaction still might be coded

incorrectly or have financial mistakes.

• Company policy might require that problems with transactions imported

from third-party systems be corrected back in those other systems. The

process of issue resolution is a company policy decision that isn’t always

natively supported in the ERP.

Finance & Accounting

Challenges in Record to Report• Data posting errors • Allocation setup errors • GL reconciliation process • Consolidation • GL maintenance

Period Management

• How transparent is the process for reopening a previously closed period?

• Is every reopening of a prior period cause for scrutiny or only under certain

circumstances such as a period in a quarter where the associated

statements have already been filed?

Cost Allocation• How are changes to allocations identified to confirm the existence of

proper change control procedures?

Suspense Accounting

• How often are suspense accounts reconciled?

• Are they always reconciled completely? • Are suspense accounts being used to temporarily

obfuscate transactions?

• Are there any trends regarding the use of suspense accounts?

• (E.g., – Leveraged by the same individual(s) – Leveraged at certain times of the month)

Chart of Accounts

• Who’s responsible for maintenance versus who can actually maintain account mapping?

• Were changes made to these mapping tables outside of the approved change control process

and what were those changes?

• What updates have been made to these validation rules?

• Who is aware of these changes?

• Were those changes approved and documented as part of an approved maintenance process?

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Key Challenges

Intercompany Accounting

Recording, reconciling and settling intercompany accounts and transactions is manual and time consuming.

Researching & rectifying discrepancies is one strategy but generally inefficient in terms of time and effort.

There is a lack of documented and/or communicated policy and adequate compliance even when policy is stated

Key Performance Indiacators ( KPI) are often missing or outdated needing revision in line with “ as peformed accounting

processes”.

Local statutory requirements drive entity accounting and its requirements. Better understanding of local requirements is often

solicited.

High volume of rebills and corrections exist because of differing currencies and billing dates.

Timing differences play a major role in entries not yet reconciled during month close.Tax implications from creating,

accelerating, avoiding or deferring consolidated tax income/liability due to intercompany transactions is poorly understood

across the R2R value chain.

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Best Practices/ Our Recommendations

Intercompany Accounting

Simple, standardized end-to-end intercompany accounting process documentation;

A visible repository for all end-of-month statements, such as SharePoint or some other content management repository;

An automated reconciliation tool with exception reporting;

Shared KPIs for all the accountable parties;

Global contact listings of accountable parties by entity;

A formalized escalation process to alert appropriate management about problems;

Global imbalance and aging reports;

Legal/tax restriction policy on deviations;

Realistic materiality thresholds; and

A single monthly cutoff date for all billings, such as one week before the month-end closing.

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How we can be of help

Solving “the intercompany reconciliation” complexities

OPEXGURU CONSULTING LLP can

• Deploy project resources to support subject matter experts in driving time bound clearance projects.

• Review existing people, process and technology capabilities & identify failure modes and weak controls

• Recommend short term, near term and long term process improvement intraventionsbest suited to your ecosystem.

• Evaluate multiple technology vendors, benchmark them and recommend “best fit” to your process & technology roadmap.

Insurance Industry InsightsFor Illustrative purposes only

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Generation D

A new set of connected customers with new set of demands. With increased adoption of

mobility and internet, which provides faster access to company and product information,

customer behavior is rapidly changing. Customers now often research through direct channels

( internet and contact centers) and then purchase policies from traditional channels.

Agent Motivation & Loyalty

While agency channel will continue to be preferred one for insurers, the elevated presence of

direct channels have agencies worried that sales would be increasingly cannibalised by direct

channels impacting their commissions

Thriving in Digital World

Insurance Distribution

Challenges – 2015 & beyond

Non Value Added Admin Tasks

Increased number of channels have also increased the complexity of distribution network.

Agencies struggle to get reliable actionable data & spend more time on admin and data

collection rather than focussing on agent motivation and providing consultation services to the

end customer, which is where they add maximum value.

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Recruit & Retain Deploy a robust onboarding process to recruit agents who are right fit for you.

Use Social CRM to gain valuable insights on prospective agents who are active on social networking.

Agency Managers can use KPIs like opportunity conversion ratio, retention ratio, policy portfolio,

customer satisfaction index to define their agent engagement & training plans.

Create Agency communities and conduct agent development activities to align agency and insurance

agency objectives.

Improve Channel Collaboration

Assign orphaned customers & direct channel clients to agents.

Distribute online abandoned carts with info shared by customers to agents.

Assign leads collected through social media, call center, online sites to agents.

Thriving in Digital World

Insurance Distribution

Key Opportunities for You

Establish Cross Channel Analytics Framework

Deploy a rich analytics framework to gather integrated view of distribution landscape.

Track agent, backoffice and principal operations.

Track cross channel collaboration.

Create segmentation and identify optimal product and channel fit.

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Our Strategic Recommendations

Launch of Digital Agent Platform

Agency Business Today Digital Agency Model

Limited channels offered, face to face, email , telephone

Multi-channel, mobile, and interactive

Low Tech and paper transactions Mobile and electronic transaction

Sales Culture Sales and Service Culture

Standalone channel with limited integration Full integration to other channels

Reliance on call center for product experts Product intelligence delivered to agents viaknowledge management systems

Aging sales force Alignment with consumer demographics, life style and technology preferences with focus on recruitment of younger individuals.

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Proposed Action Plan

This is where we must begin.

1. Identify how technology is changing the role of the agent and the impact of consumer driven technology changes on agent interactions

2. Implement agent analytic dashboard to provide distribution with real-time visibility into agency and agent performance

3. Assess and build a prioritization methodology for deployment of new distribution technologies which will be needed to support digital agency models

4. Build a strategy on how to support agent mobility, including Bring Your Own Device (BYOD) policies, security, mobile applications required, and agent help desk demands

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Get in TouchWe want to hear from you & share our language of OPEX.. OE What’s Happening.

Our Location

OPEXGURU CONSULTING LLP

Level 9, Regus, i-Spaze Tech Park

Sohna Road Gurgaon, India.

Our Phone91 9560 88550

Email / Websiteoeguru@gmail.com

www.opex.guru