One institution's credit card subsidiaries were experiencing a 9-month research case backlog in the item processing related research and adjustments department. They established a goal of eight weeks to clear the backlog and implement any recommendations to prevent future occurrences.
The PRI team accurately quantified the backlog and established production standards for all components of the research process. Based on these components, our team developed a Capacity Plan and used this as a tool to predict the resources needed to reach the 8-week goal and track progress towards the goal daily. We developed and implemented an improved format for daily communications between the Credit Card Lockbox Processor, Item Processing, and Research to improve interaction between the subsidiaries and prevent development of future backlogs.
We achieved the goal to resolve the $100 million backlog one week ahead of schedule. The client accepted and implemented the 400 process improvement recommendations for Credit Card Remittance Processing, Credit Card Lockbox to Bank Statement Reconciliation, Item Processing, and Research & Adjustments.