Defining Process And Improving Efficiencies After Rapid Growth
Problem
A top 5 national insurance broker had gone through a fast and successful growth period, with the marketing department receiving high levels of recognition for their role in the company’s success. Due to the fast growth and real-time scaling to meet the company’s needs, the five marketing functions were operating in silos and using a variety of tools to accomplish their work. There was an opportunity to develop a standardized approach through process and technology that would not only streamline workflows but also create great visibility and ownership of projects. The group wanted a more efficient and transparent approach but did not have the capacity or individual influence to develop and drive change. Excelerate was engaged to design and optimize future state process maps that would provide the foundation for a future Project Management software application. The Excelerate Team assigned to the project provided a unique perspective as they had experience in both Marketing Functions and implementation of Project Management tools.
Approach
Excelerate kicked off the project with a series of stakeholder interviews as well as internal workshops with the goal of finding alignment among the groups that would inform a current state assessment. It was imperative to generate a high level of engagement from the various groups to ensure buy-in and strong support of the new process. During the discovery it was determined that each marketing group was functioning well within their division but when projects required cross-functional collaboration there were many gaps and opportunities to increase process efficiency. One consistent challenge the teams faced involved the copy and material approval process as there were no uniform guidelines around cycle times and decision-making roles, often leading to confusion and delays. In addition to the current state assessment, Excelerate developed an ROI analysis of potential Project Management Tools and was asked to assist with the vendor selection portion of the project.
Results
The Excelerate Team delivered to the customer a complete set of marketing processes that will be used as the foundation for the new Project Management System. Through the high-touch approach of Excelerate’s assessment work, many of these processes had been backed by team stakeholders, creating a sense of ownership in the decision-making process. In addition to the longer-term processes that were delivered, Excelerate provided the customer with an extensive process optimization opportunity list, many of which could be started on immediately. Excelerate also provided design blueprints for streamlining content through the ownership, approvals, and timelines. Armed with these documented processes, the Excelerate Team will work with the customer closely on the next steps of vendor selection and implementation.
The client has approved these recommendations and is transitioning to Phase 4 for detailed financial planning and implementation roadmap development. Ultimately, the client improved EBITDA by 55% YoY within twelve months of this work.