CASE STUDY 6
Develop an End-to-End Quality Assurance Process for Large Financial Services Client and Two of its External Vendors

The Situation
A large financial services firm engaged two external vendors to develop and deliver a new performance reporting product for their financial correspondents. Both external vendors, however, were experiencing serious quality problems.

The Challenge
One vendor in Texas was to consolidate three months of individual investor performance data into a quarterly summary and transmit the data to an external printer. The printer, in Massachusetts, was to receive and convert the consolidated electronic data into quarterly performance reports that would compare each individual investor's performance against established financial benchmarks; the vendor would then print and mail hundreds of investor performance reports to each of the client's financial correspondents. However, data was not consolidated accurately, charts were not appearing properly, and individual investor reports were being printed and mailed to the wrong correspondent.

The Objective
Business Intelligence Solutions (BIS) was engaged to develop an end-to-end quality assurance process that would ensure the development of accurate individual performance reports and that the correct investor report would be mailed to the appropriate correspondent.

Resolution
BIS developed a process flow chart to document each vendor's "as-is" process. As errors were identified, the processes were redesigned to prevent the same errors from recurring. The types of errors and the quantity of each were tracked and communicated to both vendors on a daily basis so they could assess root causes of quality problems and improve their processes. Quality improved dramatically over the four-year development cycle due to regular open communication and the desire for a win-win business relationship.

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