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Process Improvement: Are You Getting Your Desired Results Out of New Systems?

May 23, 2014

Many credit unions have implemented new loan origination and/or new account opening systems.

While these new systems can absolutely enhance consumer experience, save time and drive better performance, we sometimes find that old processes remain in place when new systems are launched. If your credit union has implemented new systems and has not achieved desired results, it may be time to really dig in and review exactly how the new systems are being used.

Once you agree on, or recommit to a new process, it is necessary to control the new process and measure success. Click here for more detail on process improvement.

Following is just one example of a “control chart” analysis related to the average time it takes to decision a loan. Weekly and monthly iterations calculating average time and control limits can help decision makers understand if a process is “out of control.” A “control limit” (CL) is calculated based on the average of the sample set; standard deviations are then calculated to develop an “upper control limit” (UCL) and a “lower control limit” (LCL).

Keep in mind, it is absolutely true that what gets measured gets focus!

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