Venturehaus launches a new Benchmark for financial institutions
business consultancy, business management consultants
A new market-based benchmark for financial institutions, providing a detailed assessment of performance in the pursuit of excellence in business operations and a comparison with selected peers, market segments, and the industry as a whole.
Venturehaus today proudly announces the launch of its Design for Operational ExcellenceTM Benchmark. Based on engagements with over 50 top financial institutions and on recent market research, the Benchmark provides financial services businesses with a detailed assessment of their current performance in the pursuit of excellence in business operations.
The Benchmarking Model
The Benchmark assesses how well an organisation is performing in the pursuit of excellence in its business operations. Operational Excellence is neither a discrete change programme nor a management initiative - it is a business-as-usual approach to instil a culture of effective business management on an ongoing basis across complex organisations. In financial services, this invariably involves the consistent management of the inter-dependent, ever-changing, and often conflicting, requirements of cost optimisation, service differentiation, and risk mitigation.
Evaluation against the 80 best practices in Operational Excellence in Financial Services
The Design for Operational ExcellenceTM model contains 80 well-established financial services industry best practices, against which financial institutions can be assessed. The Benchmark rates an organisation’s accomplishments in the 8 core competencies, or “levers”, which together enable a business to achieve Operational Excellence:
• Strategy and Planning
• Service Differentiation
• Cost Optimisation
• Risk Mitigation
• Measurement and Management Information
• Continuous Improvement
• Process Management
• Capability and skills
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