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Process Excellence at Credit Agricole Corporate & Investment Bank - PEX Network Case Study




Process Excellence
at Credit Agricole
Corporate & Investment
Bank
Process Excellence Network Case Study
2012 Europe Process Excellence Award Winner
“Best Project Over 90 Days”




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Process Excellence at Credit Agricole Corporate & Investment Bank - PEX Network Case Study



CASE  STUDY:    CREDIT   AGRICOLE
CORPORATE & INVESTMENT BANK
INSIGHT FROM EUROPEAN AWARD WINNING PROJECT




CONTEXT & PROJECT OVERVIEW
With over 54 million customers, 160,000
employees, 11 600 branches worldwide and the
expertise of its specialized subsidiaries, Credit
                                                               Credit Agricole Corporate & Investment Bank
Agricole Group is one of the largest banks in
                                                                  won PEX Network’s European Process
Europe. Its investment banking arm, Credit
                                                              Excellence Award for Best Project Over 90 Days
Agricole Corporate & Investment Bank (CA-CIB)
launched a Lean Six Sigma initiative. Within this
Operational Efficiency Programme, the Cash                  business line itself was organised. A productivity
Payments process was identified as one area of              gain of more than 10% was delivered across this
opportunity to make substantial improvement.                large front to back team and key to success was a
                                                            concerted effort to engage business users at every
The Cash Management business is a transactional,            step of the way.
high volume, low revenue business that offers
little opportunity for growth but remains a core            The project was launched as part of the bank’s
client offering for the bank. It covers cash                PRIME (“PRocess IMprovement & Efficiency”)
management services and payment products, such              Programme, a multi-year process optimisation
as; electronic transfers, standing orders, “wire”           programme. It aims at improving all the “end-to-
transfers (any client requested international/              end” operational processes of CA-CIB in order to
domestic payment).                                          strengthen the quality of client service, improve
                                                            global efficiency by promoting synergies and
IT improvement opportunities had already been               working across processes, reduce costs and
optimised, so further gains would mainly have to            reinforce the management of risk.
come through process improvements and re-
organization across the value chain.                        For their work, innovative approach and
                                                            outstanding results, the company won PEX
The company applied Lean Six Sigma tools and                Network’s award for Best Process Improvement
techniques to tackle the problem, which included            Project Over 90 days, a pan-European award
redefining the Front to Back process (from the              judged on operational and business results as well
Front Office through to the Operations and the              as clarity in execution throughout the process and
Back Office) and developed solutions that                   sustainability of change.
challenged not just the process, but also how the




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Process Excellence at Credit Agricole Corporate & Investment Bank - PEX Network Case Study




  TACKLING CASH PAYMENT INEFFICIENCIES


  The Cash Payments project at Credit Agricole
  Corporate & Investment Bank (CA-CIB) began in
  April 2011. The process – which handles cash
  management services and payment products such
  as electronic transfers, standing orders, etc. – had
  been identified as a key opportunity for
  improvement because of the twin problems of
                                                                Processes were mapped and analysed to find
  decreasing revenues (owing to historically low
                                                                          non-value added activity
  interest rates) and rising costs.

  “It was a question of survival to streamline this
  business […] in order to reduce cost, but NOT at
  the expense of quality,” explained Laurent
  Ripoche, Head of Transaction and Commercial                   approach to identify key problem areas and
  Banking at CA-CIB and sponsor of the project.                 sources of non-value added activity.This approach
                                                                included mapping and understanding the process
  Initial data analysis showed that 280 million
                                                                and challenging non-value added activities and
  operations per year were 99.8% straight through
                                                                tasks. Data was collected on volumes and effort in
  processing (“STP”); but the remaining non-STP
                                                                order to calculate accurate costs of poor quality
  payments, some 35k manual transactions per
                                                                (CoPQ) and improvement solutions identified and
  month, drive the effort associated with 200 FTE in
                                                                validated by operational employees during Kaizen
  the front to back process.
                                                                workshops, with the focus on external client
  IT improvement opportunities had already been                 satisfaction.
  optimised, so further gains would mainly have to
                                                                Finally, the company designed a global
  come through process improvements and re-
                                                                implementation plan created with business
  organization across the value chain.
                                                                involvement and owned by the business, with key
  The Lean Six Sigma team followed a DMAIC                      milestones, ownership and agreed due dates.

                                                                This business involvement in the changes was
                                                                critical, and the PRIME programme identified that
                                                                it was essential to engage business users at every
                                                                step of the way to ensure that the changes made
                                                                had maximum impact and would be adopted.

                                                                 “My team and my role within this programme is
                                                                as a facilitator for change, but we cannot own the
                                                                change implementation and the new processes
                                                                that will be implemented on our own,” explained
                                                                Isabelle Monier-Vinard, Head of Credit Agricole
                                                                CIB’s Lean Six Sigma Programme (PRIME). “It was
                                                                critical to get all of these different stakeholders in
                                                                the same room and agree on common
More than 50% of the time of front office staff was
                                                                improvement objectives.”
         dedicated to “non sales” tasks


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Process Excellence at Credit Agricole - PEX Network Case Study




That’s one of the reasons that the Lean Six Sigma
division ran 26 workshops conducted at all levels
of the business. Each workshop had a structured
agenda and data (including process maps, volumes
and time to process each step) to drive the
discussion and workshop attendees then added
their opinions on issues raised and then agreed
joint priorities for improvement objectives, which
were scored transparently. All issues identified
within these workshops were collated and
prioritized in the ‘House of Dysfunctions and
Waste’; so that each could be assessed and scored
against strategic objectives.

“We had to convince all the different teams to
overcome their siloed organisation towards an end
to end view and ownership of their activities,” said
Isabelle Monier-Vinard. “To do that, we used client
focussed data and linked each operational silo and               Solutions were designed by or validated
its performance to their client satisfaction and                            with the business
global metric […] everything was data driven.”

This use of data helped to bridge the                        SOLUTIONS
organisational silos, and to make people work
together productively.                                 After extensive analysis, Credit Agricole Corporate
                                                       & Investment Bank (CA-CIB) redesigned not just
All solutions that the team came up with were          the processes but even reorganized the business
either from these workshops or validated in            line functions into several distinct activities : front
‘Solution’                                                                       office, middle office, back
workshops with         “The strength of these workshops was that all             office and reporting.
the business and
                       levels of the organisation expressed                      The front office was
then shared with
management for         themselves freely without feeling that                    realigned to focus on its
decision making        conclusions had already been made in advance core business – Product
and                    of these sessions.” - Laurent Ripoche, project            Development and Sales –
implementation                                                                   while the back office
                       sponsor
planning.      This                                                              remained in charge of the
lead to increasing                                                               claims        management
buy-in for implementation as the workshop              activities. Two new activities were created: first, a
audience had agreed to the solutions directly.         ‘Middle Office’ was set up to ensure better
                                                       management of the end to end process, and
“The strength of these workshops was that all          secondly, a ‘Reporting’ team, which monitors
levels of the organization (management and             ongoing activity and enables timely follow up of
operational) expressed themselves freely without       risks. These new activities, coupled with the
feeling that conclusions had already been made in      realignment of the front office tasks on
advance of these sessions,” explained Laurent          commercial actions, are aimed at improving client
Ripoche, project sponsor.                              service while removing non value add activity and
                                                       delivering efficiency gains.



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Process Excellence at Credit Agricole - PEX Network Case Study


There were two primary reasons for reorganizing               The image at the bottom of this page details the
the functions in this way, explained Adrian Grant             original process (Initial Value Chain) compared
(MBB external advisor). The first reason was lack             with the redesigned version (Target Value Chain).
of clarity over what exactly the front office and the
back office should be doing. There were quite a               RESULTS
few administrative tasks that the front office was
performing that would have fit better under a back            Improvements along the value chain delivered a
or middle office. Additionally, there were things             gain of more than 10% productivity across this
that were being done by both sides because they               large front to back team through the following
weren’t clearly defined.                                      steps:

“I think an effectively designed middle office in                     Process   review    and     optimization
banks is a rare thing,” said Adrian Grant. “This one                   (removing Non Value Add activity)
has now been designed the right way – bottom up,
not top down. I think that’s the thing that’s been                    Reduction of manual operations (and
very good about this project, is it is functionally                    operational risk)
aligned, rather than just the management team
                                                                      Organizational re-alignment (Front Office
saying let’s call them a middle office now.”
                                                                       & Operations)
The realignment helped the Lean Six Sigma team
                                                                      Challenging Supply chain (client service
gain more efficiency than they could have from
                                                                       channel changes to optimize payments)
improving processes alone.
                                                              The project was a front to back process review
 “By focusing on the organizational design - instead
                                                              that looked at Value Add activity from a client
of just improving and optimising an existing
                                                              perspective and functionally aligned processes to
process - we improved the global efficiency
                                                              aid efficient performance. Since the reorganization
because we allowed the front office and the
                                                              and process optimisation, productivity gains of
support function to be more focussed on their
                                                              12% have been validated and realised (with
core activities,” said Isabelle Monier-Vinard.
                                                              budgets updated based around implementation




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Process Excellence at Credit Agricole - PEX Network Case Study


                                                         actions). The overall implementation plan has
                                                         been incorporated in the new cash management
                                                         business plan for 2012.
What were the key success
                                                         Adrian Grant attributed some of the success to the
factors?                                                 fact that the project looked at the entire process
                                                         from the perspective of the customer.
Credit Agricole CIB attributes the following             “I think that every process we look at always starts
factors as key to the overall success of the             with a siloed view and it’s so easy to forget our
project:                                                 clients in that. We become a part of the machine
                                                         rather than the front to back service the client
      Front Office sponsorship                          sees,” he said. “I think what make PRIME [CA-CIB’s
                                                         Lean Six Sigma programme] successful is that it
      Onboarding operational Green Belts from           reminds all of the actors in the process - front to
       the business                                      back - about what their client sees.”

      Voice of Client used to optimise current          The project demonstrated the ability of Credit
                                                         Agricole Corporate & Investment Bank’s Lean Six
       service offering:
                                                         Sigma team to onboard a global, end to end, front
                                                         office to back office solution, overcome
           o Leading to re-focus of Front Office
                                                         organizational silos and realise the truism that
             on core sales tasks                         efficiency gains can be identified at the interfaces
                                                         between departments by reducing manual tasks
           o Creating a new Middle Office
                                                         and          improving          client        focus.
             (dedicated to client servicing)




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VIEW FROM THE BUSINESS
INTERVIEW WITH LAURENT RIPOCHE, HEAD OF TRANSACTION & COMMERCIAL
BANKING (PROJECT SPONSOR), CREDIT AGRICOLE CORPORATE & INVESTMENT BANK




                            Laurent Ripoche is Head of Transaction & Commercial Banking (TCB); he has been
                            in this role since April 2007. He began his career in 1988 with Crédit Lyonnais
                            retail banking. In 1992, he worked in Fixed Income Middle-Office. In 1995, he
                            became Corporate Relationship Manager in Paris, then, in 1998, project Manager
                            RAROC Tools / Economic Capital. In 2001, he was appointed Head of Credit Risk
                            Management in Asia - Pacific (Calyon), then in 2005, project Manager Basle II for
                            corporate clients. He was Sponsor for the Cash Management project, taking
                            responsibility for coordinating the management decision making on this front to
                            back business line.




WHY WAS THE CASH PAYMENTS                                   WHAT WAS THE MOST IMPORTANT
PROCESS IDENTIFIED AS A STRATEGIC                           THING FOR YOU TO ACHIEVE THROUGH
OPPORTUNITY FOR IMPROVEMENT?                                SPONSORSHIP OF THIS PROJECT?

The Cash Payments business between 2008 &                   I am personally convinced of the value of the Lean
2010 had to cope with the scissor effects of:               Six Sigma methodology. I learned about it during
                                                            my MBA and beyond my business objectives I
       30% fall in revenue (decrease of interest           wanted to test the applicability of this approach to
        rates)                                              a banking environment where processes are less
                                                            materialized than in the manufacturing world.
       20% increase of its cost base
                                                            As a sponsor the most important thing was to
It was a question of survival to streamline this
                                                            quickly define the objectives, the scope of the end
business, our end to end processes across the
                                                            to end processes and the geographical location of
whole value chain in order to reduce cost, but NOT
                                                            activities. Through a first data analysis we were
at the expense of quality. The strategic objective
                                                            able to do an efficient scoping of quantifiable
for Cash Payments business is first to increase
                                                            objectives that could be reached through a
quality as valued by clients and secondly to reduce
                                                            pragmatic approach.
the cost base of the operation. Launching such a
project was a good opportunity to reach these two           Another important aspect of my role as a sponsor
objectives.                                                 was to allow the methodology to highlight the axis
                                                            for improvement (confirming some of manager’s
                                                            feelings both in Front Office and Back Office)
                                                            rather than direct the outcome of the project top-
                                                            down, so that data leads the improvements in a
                                                            transparent manner.



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Process Excellence at Credit Agricole - PEX Network Case Study


WHY DO YOU THINK THE APPROACH                               FO on Sales, specializing people in a value added
                                                            middle office and simultaneously reducing cost
TAKEN BY THE LEAN SIX SIGMA TEAM
                                                            through lowering the number of manual
AT   CREDIT  AGRICOLE    WAS  SO
                                                            operations and eliminating the duplication of
SUCCESSFUL?
                                                            effort.

One key success factor was that the project team            We changed our way of working on the global end
was very transversal and balanced between Front             to end filiere, focusing on client satisfaction and in
Office (sales), the operational business teams and          this way the improvements are strategic for our
the Back Office. Coached by the PRIME Lean Six              business line!
Sigma specialists, everyone involved participated
well in workshops, where everybody was able to              IN WHICH WAYS DO YOU THINK THE
talk without constraints. LSS facilitation oriented         LEAN SIX SIGMA TEAM DELIVERS VALUE
the sessions towards shared objectives and people
                                                            TO THE BUSINESS?
shared their ideas very freely and reached a
consensus on solutions rapidly. The strength of             Apart from the quantifiable benefits, the cost
these workshops was that all levels of the                  reduction, we all improved our process
organization (management and operational)                   understanding and learned from the operational
expressed themselves freely without feeling that            people (who experience the processes on a day to
conclusions had already been made in advance of             day basis) and engaged in transversal teamwork
these sessions. As a consequence the axes of                for a common goal. All actors, from front to back,
improvement were all validated by consensus.                valued the focus on quality as the key driver for
                                                            this business.
We know our business through intuition, but with
quantifiable measures it is difficult to refute the
need of improvement either on our process or our
organization.

THERE ARE SOME WHO ARGUE THAT
PROCESS    IMPROVEMENT  IS   A
STRATEGIC RATHER THAN TACTICAL
ISSUE. WOULD YOU AGREE?

For me, it is both strategic and tactical. In this
project reducing manual operations was a tactical
objective (linked to cost reduction) but we
continually kept in mind our strategic objective to
improve our commercial dynamism. The approach
allowed for the elements of the service valued by
the client to be quantified. By re-shuffling the
organization of the end to end filiere, we globally
delivered recognized value that the customer is
willing to pay for. This was achieved by refocusing




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LINKING PROCESS IMPROVEMENT WITH
STRATEGIC BUSINESS OBJECTIVES
INTERVIEW WITH ISABELLE MONIER-VINARD , BLACK BELT & HEAD OF CREDIT
AGRICOLE CORPORATE & INVESTMENT BANK LEAN SIX SIGMA PROGRAMME (PRIME)




                               Isabelle Monier-Vinard is the Head of the Operational Excellence Initiative
                               “PRIME” (Process IMprovement & Efficiency) at Crédit Agricole Corporate &
                               Investment Bank (CA-CIB) since 2009. She manages both the delivery of process
                               excellence and the wider adoption of the Lean Six Sigma methodology within the
                               company from the Front Office to the Support Functions. As programme lead she
                               supports the deployment strategy within the organization and is responsible for
                               assuring the quality of PRIME project deliverables and the follow up of the LSS
                               methodology and mindset.

                               Isabelle started her career in the Group Internal Audit department of Banque
                               Indosuez. In 2000 she joined Société Générale Corporate and Investment Banking
where she took various management responsibilities in the Equity Derivatives' Operations Department. In
2007, Isabelle joined CA-CIB as COO of Capital Markets' Operations Department to then become the Chief of
Staff to the Global Head of IT & Operations.

                                                              THROUGHOUT      THIS PARTICULAR
HOW WAS THIS PARTICULAR PROCESS                               PROJECT, I UNDERSTAND THAT YOU
IDENTIFIED FOR IMPROVEMENT?                                   RAN A LOT OF WORKSHOPS AT EVERY
A Cartography of 57 end to end processes has                  LEVEL OF THE ORGANISATION.. WHY
been defined by the general management as                     WAS IT SO IMPORTANT FOR YOU TO
targets for review by 2014. We ran a project                  TAKE THIS APPROACH?
selection with the key stakeholders, and it saw the
cash management process as a good opportunity.                My team and my role within this programme is as
When we say key stakeholders we mean front                    a facilitator for change, but we cannot own the
office and support function management were                   change implementation and the new processes
involved in this project selection. On top of that,           that will be implemented. So for us and for the
the head of cash management business - the front              company, it is key to have the business in the
office - was also very keen on participating in this          workshops agreeing on the future state, because it
project.                                                      secures the effective implementation. The cash
                                                              payment project crosses different departments –
It was important right from the start to have the             front and support – and even within these
involvement of both front and support function                different departments there are siloed teams. So
employees, a very strong sponsorship from the                 it was critical to get all of these different
head of the front office. It helped us to have a full         stakeholders in the same room and agree on
end to end review of this, what we call here in our           common improvement objectives. The key was
language, a filiere, meaning we go from the front             really to give them the ownership of the issues:
to the back of the process.

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Process Excellence at Credit Agricole - PEX Network Case Study


first of all the ownership and the                              With these four, in fact, key cornerstone
acknowledgement of problems and the solutions                   principles, we will still be able to translate and to
and secondly of all the change management                       adapt to our general management’s strategic
issues, before launching the implementation plan.               objectives, and to deliver exactly what is expected
                                                                from this initiative. But on top of that, the key
WHAT WOULD YOU SAY WAS THE MOST                                 element for me is conviction and pragmatism - not
DIFFICULT ASPECT OF THE PROJECT,                                going too fast, not too slow, but getting to exactly
AND HOW DID YOU OVERCOME IT?                                    where we need to be.


In every investment bank, the front office and                  RIGHTLY OR WRONGLY, MANY TEND TO
support function do not naturally see their                     ASSOCIATE LEAN SIX SIGMA WITH COST
activities as a transversal and common state.                   CUTTING, AND NOT REALLY A WHOLE
Bringing a front to back shared understanding was               LOT MORE. DO YOU THINK THAT THIS IS
the main challenge for us in this project – we had              AN ACCURATE ASSESSMENT OF WHAT
to convince all the different teams to overcome                 LEAN SIX SIGMA CAN REALLY BRING TO
their siloed organisation towards an end to end
                                                                THE BUSINESS?
view and ownership of their activities.

To do that, we used client focussed data and                    In my opinion, Lean Six Sigma is not about cost
linked each operational silo and its performance to             cutting. It is about efficiency. The key message I
their client satisfaction and global metric. So                 carry around the company is about all of us looking
everything was data driven, which is very                       for efficiency. Anyone can decide to do top down
important to make in fact all these different key               cost cutting, but I don’t believe that brings
stakeholders converge towards a search for                      sustainable efficiency to the organisation.
improvement. In fact, we were able to effectively
                                                                By deploying a Lean Six Sigma approach, we
identify the defects and their root causes in a
                                                                contribute to performance. In a sense, we perform
factual way, regardless of whether they were in
                                                                a sanity check on our current processes and on the
the front, or, the back office. So it was very
                                                                organisation. We bring four key elements to the
important to have all this data driven analysis
                                                                table with regards sustainable improvement.
because it helped to bridge the silos, and to make
                                                                These elements are: securitisation, monitoring,
people work together productively.
                                                                client satisfaction, and global efficiency. I believe
                                                                that what Lean Six Sigma brings us is how to be
TAKING A MORE STRATEGIC VIEW, I
                                                                better in a measurable way that our clients, the
UNDERSTAND THAT PART OF YOUR                                    business and the employees recognise.
ROLE AND YOUR AIM AT CRÉDIT
AGRICOLE HAS BEEN TO BUILD A                                    WHAT TECHNIQUES DO YOU EMPLOY TO
SUSTAINABLE AND SELF-SUFFICIENT                                 REALLY    SUPPORT  THE   OVERALL
LEAN SIX SIGMA PRACTICE THAT CAN                                STRATEGIC OBJECTIVES AT CRÉDIT
REALLY TRANSLATE THE STRATEGIC                                  AGRICOLE?
OBJECTIVES OF MANAGEMENT INTO A
SPECIFIC CHANGE AGENDA. WHAT DOES                               If I go back to the four main principles I mentioned
THAT ACTUALLY LOOK LIKE TO YOU?                                 earlier - adaptation, pragmatism, delivery and
                                                                conviction - we can translate them into eight
After three years of building this practice - the first         execution principles that need to be carried out in
Lean Six Sigma practice that this company has ever              order to bring value to the company. First of all we
had - I would summarise our journey with four                   need a clear and constant sponsorship from
words: first, adaptation, second, pragmatism,                   general management, something that we have
third, delivery, and the last, conviction.                      here. The second execution principle is a
                                                                pragmatic and global approach

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through a project selection aligned to our general            FINALLY, WHAT ARE YOU DOING TO
management objective, and also a project
                                                              REALLY MAKE YOUR LEAN SIX SIGMA
approach adapted to the issue we have to cope
                                                              ACTIVITY SUSTAINABLE FOR THE LONG
with.
                                                              TERM?
The third principle is the collaborative project
execution in two pillars: we always work with a               As I said, we do run our project systematically with
mixed team of in fact Lean Six Sigma experts and              a mixed team of Lean Six Sigma experts and
operational staff, and we still focus on the middle           operational staff. So the first thing is that these
management involvement and ownership at the                   operational staff free up half of their time to
end of our project.                                           become part of our extended team. That means
                                                              that they are really part of the project team. We
The fourth is a strict protocol for the follow up and         thoroughly train them, coach them during all the
the acknowledgement of our results. By this I                 projects, and ensure they use the Lean Six Sigma
mean all results - financial and non-financial. These         tools effectively. This is so that we do not have to
are followed in the control tower that we are in              carry everything by ourselves. We have trained
charge of, and for all of the identified gains, we            almost 100 operational staffs who are now a
involve Finance in the agreement of our                       community who understand our approach and are
monitoring process. This is key for us, because it            able to roll out and use Lean Sigma tools in their
gives the initiative real credibility in terms of             own daily work. When I'm talking about
efficiency and improvement.                                   operational staff, we try to onboard different
                                                              levels of operational staff, meaning just an
The fifth one is the training of operational staff to
                                                              employee working on the process, but also middle
be able first of all to get them involved concretely
                                                              managers. We give them the opportunity to be
in the project, and secondly to enable them to be
                                                              part of a global review end to end of the process
able to roll out any micro improvement initiatives
                                                              which they normally don’t have the opportunity to
in their own activities or propose new ideas for
                                                              do.
improvement. Governance, the sixth one, to
involve each “rung” of the hierarchy within                   Second, we focus our project delivery on
management, which includes top management.                    quantifiable benefits for our clients, and delivering
What that gives you is a strong investment of                 also to the middle management sustainable tools
conviction by top management for the                          like process maps, operational risk metrics,
programme.                                                    capacity models and competency matrices that
                                                              they can still use after the project has ended, and
Seventh is the communication, which needs to be
                                                              that will be in fact part of their daily monitoring
very active, and communication is still on two
                                                              tools.
things. First of all, the programme objectives, to be
very clear with everybody within the company                  In parallel, we are building a Lean Six Sigma
about the objectives we are looking for, and also             academy that will allow us to train more people
to communicate on results - and especially                    outside of our core project focus. In fact, our
success. We need to reward also operational                   process expertise is recognised outside of the Lean
staffs who have been working with us on this                  Six Sigma optimisation core focus because we are
improvement project. And the final principle is to            now involved in key strategic IT transformation
have a dedicated team of very motivated people                projects for which we are in charge of the process
looking for projects that will enable change and              contribution in designing the target processes
provide value to the company.                                 before IT configuration.




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ABOUT PROCESS EXCELLENCE AWARDS
The Process Excellence Awards have been established to
honour, recognize and celebrate projects that
demonstrate true best practices. Entrants are assessed
on the use of methodology, business impact, and
excellence within the practice of Lean, Six Sigma &
Business Process Management (BPM). Judges for the
PEX Network awards are assembled of experts and
business leaders working in industry.

A full list of European award winners 2012 can be
obtained on PEX Network.com.




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PEX Network Fast                About Us
Facts                           WHAT IS THE PROCESS EXCELLENCE NETWORK?

                                PEX Network is an online, free to join, membership portal providing
                                process professionals with exclusive access to a library of multimedia
                                resources from top executives on Lean Six Sigma, BPM, Operational
DIVISION LAUNCHED: 1999         Excellence, Continuous Improvement and other process excellence related
                                topics.
WEB PORTAL LAUNCHED: 2008
                                The Process Excellence Network has a subscribed membership of 80,000+
                                with an additional 20,000 connected to us via our social networks and a
MEMBERSHIP SIZE                 global contact database of over 450,000.

Total Membership: 80,000+       In addition to online resources, PEX Network organizes 30+ targeted face-
                                to-face events globally per year with industry specific focuses on Financial
Growth: 800+ members per week   Services, Telecoms & Utilities, and Energy. We also hold major cross
                                industry summits on process excellence in Orlando, FL (PEX Week) and in
                                London, England (PEX Week Europe) every January and April.
SOCIAL MEDIA CREDENTIALS
                                ABOUT THE EDITOR
LinkedIn: 10,000+ Members
                                Diana Davis is editor of PEXNetwork.com and follows trends in process
Twitter: 2,300+ followers       excellence including Lean, Six Sigma, and BPM. She worked previously as a
                                producer with Associated Press Television News and she has also worked
                                in marketing and business development in the software industry. Davis
EVENTS                          holds a Master's in International Journalism from City University, London
                                and a BA in English from the University of British Columbia, Vancouver. She
30+ globally per annum          can be reached on diana.davis@pexnetwork.com.

                                CONTACT US
TOPICS COVERED
                                Website: www.pexnetwork.com
BPM
                                General Inquiries: inquire@pexnetwork.com
Lean
                                Telephone: +44 (0)20 7368 9300
Six Sigma

Performance Management

Change Management

Data Management

Information Technology




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Process Excellence At Credit Agricole Corporate & Investment Bank Case Study

  • 1. Process Excellence at Credit Agricole Corporate & Investment Bank - PEX Network Case Study Process Excellence at Credit Agricole Corporate & Investment Bank Process Excellence Network Case Study 2012 Europe Process Excellence Award Winner “Best Project Over 90 Days” 1|P a g e
  • 2. Process Excellence at Credit Agricole Corporate & Investment Bank - PEX Network Case Study CASE STUDY: CREDIT AGRICOLE CORPORATE & INVESTMENT BANK INSIGHT FROM EUROPEAN AWARD WINNING PROJECT CONTEXT & PROJECT OVERVIEW With over 54 million customers, 160,000 employees, 11 600 branches worldwide and the expertise of its specialized subsidiaries, Credit Credit Agricole Corporate & Investment Bank Agricole Group is one of the largest banks in won PEX Network’s European Process Europe. Its investment banking arm, Credit Excellence Award for Best Project Over 90 Days Agricole Corporate & Investment Bank (CA-CIB) launched a Lean Six Sigma initiative. Within this Operational Efficiency Programme, the Cash business line itself was organised. A productivity Payments process was identified as one area of gain of more than 10% was delivered across this opportunity to make substantial improvement. large front to back team and key to success was a concerted effort to engage business users at every The Cash Management business is a transactional, step of the way. high volume, low revenue business that offers little opportunity for growth but remains a core The project was launched as part of the bank’s client offering for the bank. It covers cash PRIME (“PRocess IMprovement & Efficiency”) management services and payment products, such Programme, a multi-year process optimisation as; electronic transfers, standing orders, “wire” programme. It aims at improving all the “end-to- transfers (any client requested international/ end” operational processes of CA-CIB in order to domestic payment). strengthen the quality of client service, improve global efficiency by promoting synergies and IT improvement opportunities had already been working across processes, reduce costs and optimised, so further gains would mainly have to reinforce the management of risk. come through process improvements and re- organization across the value chain. For their work, innovative approach and outstanding results, the company won PEX The company applied Lean Six Sigma tools and Network’s award for Best Process Improvement techniques to tackle the problem, which included Project Over 90 days, a pan-European award redefining the Front to Back process (from the judged on operational and business results as well Front Office through to the Operations and the as clarity in execution throughout the process and Back Office) and developed solutions that sustainability of change. challenged not just the process, but also how the 2|P a g e
  • 3. Process Excellence at Credit Agricole Corporate & Investment Bank - PEX Network Case Study TACKLING CASH PAYMENT INEFFICIENCIES The Cash Payments project at Credit Agricole Corporate & Investment Bank (CA-CIB) began in April 2011. The process – which handles cash management services and payment products such as electronic transfers, standing orders, etc. – had been identified as a key opportunity for improvement because of the twin problems of Processes were mapped and analysed to find decreasing revenues (owing to historically low non-value added activity interest rates) and rising costs. “It was a question of survival to streamline this business […] in order to reduce cost, but NOT at the expense of quality,” explained Laurent Ripoche, Head of Transaction and Commercial approach to identify key problem areas and Banking at CA-CIB and sponsor of the project. sources of non-value added activity.This approach included mapping and understanding the process Initial data analysis showed that 280 million and challenging non-value added activities and operations per year were 99.8% straight through tasks. Data was collected on volumes and effort in processing (“STP”); but the remaining non-STP order to calculate accurate costs of poor quality payments, some 35k manual transactions per (CoPQ) and improvement solutions identified and month, drive the effort associated with 200 FTE in validated by operational employees during Kaizen the front to back process. workshops, with the focus on external client IT improvement opportunities had already been satisfaction. optimised, so further gains would mainly have to Finally, the company designed a global come through process improvements and re- implementation plan created with business organization across the value chain. involvement and owned by the business, with key The Lean Six Sigma team followed a DMAIC milestones, ownership and agreed due dates. This business involvement in the changes was critical, and the PRIME programme identified that it was essential to engage business users at every step of the way to ensure that the changes made had maximum impact and would be adopted. “My team and my role within this programme is as a facilitator for change, but we cannot own the change implementation and the new processes that will be implemented on our own,” explained Isabelle Monier-Vinard, Head of Credit Agricole CIB’s Lean Six Sigma Programme (PRIME). “It was critical to get all of these different stakeholders in the same room and agree on common More than 50% of the time of front office staff was improvement objectives.” dedicated to “non sales” tasks 3|P a g e
  • 4. Process Excellence at Credit Agricole - PEX Network Case Study That’s one of the reasons that the Lean Six Sigma division ran 26 workshops conducted at all levels of the business. Each workshop had a structured agenda and data (including process maps, volumes and time to process each step) to drive the discussion and workshop attendees then added their opinions on issues raised and then agreed joint priorities for improvement objectives, which were scored transparently. All issues identified within these workshops were collated and prioritized in the ‘House of Dysfunctions and Waste’; so that each could be assessed and scored against strategic objectives. “We had to convince all the different teams to overcome their siloed organisation towards an end to end view and ownership of their activities,” said Isabelle Monier-Vinard. “To do that, we used client focussed data and linked each operational silo and Solutions were designed by or validated its performance to their client satisfaction and with the business global metric […] everything was data driven.” This use of data helped to bridge the SOLUTIONS organisational silos, and to make people work together productively. After extensive analysis, Credit Agricole Corporate & Investment Bank (CA-CIB) redesigned not just All solutions that the team came up with were the processes but even reorganized the business either from these workshops or validated in line functions into several distinct activities : front ‘Solution’ office, middle office, back workshops with “The strength of these workshops was that all office and reporting. the business and levels of the organisation expressed The front office was then shared with management for themselves freely without feeling that realigned to focus on its decision making conclusions had already been made in advance core business – Product and of these sessions.” - Laurent Ripoche, project Development and Sales – implementation while the back office sponsor planning. This remained in charge of the lead to increasing claims management buy-in for implementation as the workshop activities. Two new activities were created: first, a audience had agreed to the solutions directly. ‘Middle Office’ was set up to ensure better management of the end to end process, and “The strength of these workshops was that all secondly, a ‘Reporting’ team, which monitors levels of the organization (management and ongoing activity and enables timely follow up of operational) expressed themselves freely without risks. These new activities, coupled with the feeling that conclusions had already been made in realignment of the front office tasks on advance of these sessions,” explained Laurent commercial actions, are aimed at improving client Ripoche, project sponsor. service while removing non value add activity and delivering efficiency gains. 4|P a g e
  • 5. Process Excellence at Credit Agricole - PEX Network Case Study There were two primary reasons for reorganizing The image at the bottom of this page details the the functions in this way, explained Adrian Grant original process (Initial Value Chain) compared (MBB external advisor). The first reason was lack with the redesigned version (Target Value Chain). of clarity over what exactly the front office and the back office should be doing. There were quite a RESULTS few administrative tasks that the front office was performing that would have fit better under a back Improvements along the value chain delivered a or middle office. Additionally, there were things gain of more than 10% productivity across this that were being done by both sides because they large front to back team through the following weren’t clearly defined. steps: “I think an effectively designed middle office in  Process review and optimization banks is a rare thing,” said Adrian Grant. “This one (removing Non Value Add activity) has now been designed the right way – bottom up, not top down. I think that’s the thing that’s been  Reduction of manual operations (and very good about this project, is it is functionally operational risk) aligned, rather than just the management team  Organizational re-alignment (Front Office saying let’s call them a middle office now.” & Operations) The realignment helped the Lean Six Sigma team  Challenging Supply chain (client service gain more efficiency than they could have from channel changes to optimize payments) improving processes alone. The project was a front to back process review “By focusing on the organizational design - instead that looked at Value Add activity from a client of just improving and optimising an existing perspective and functionally aligned processes to process - we improved the global efficiency aid efficient performance. Since the reorganization because we allowed the front office and the and process optimisation, productivity gains of support function to be more focussed on their 12% have been validated and realised (with core activities,” said Isabelle Monier-Vinard. budgets updated based around implementation 5|P a g e
  • 6. Process Excellence at Credit Agricole - PEX Network Case Study actions). The overall implementation plan has been incorporated in the new cash management business plan for 2012. What were the key success Adrian Grant attributed some of the success to the factors? fact that the project looked at the entire process from the perspective of the customer. Credit Agricole CIB attributes the following “I think that every process we look at always starts factors as key to the overall success of the with a siloed view and it’s so easy to forget our project: clients in that. We become a part of the machine rather than the front to back service the client  Front Office sponsorship sees,” he said. “I think what make PRIME [CA-CIB’s Lean Six Sigma programme] successful is that it  Onboarding operational Green Belts from reminds all of the actors in the process - front to the business back - about what their client sees.”  Voice of Client used to optimise current The project demonstrated the ability of Credit Agricole Corporate & Investment Bank’s Lean Six service offering: Sigma team to onboard a global, end to end, front office to back office solution, overcome o Leading to re-focus of Front Office organizational silos and realise the truism that on core sales tasks efficiency gains can be identified at the interfaces between departments by reducing manual tasks o Creating a new Middle Office and improving client focus. (dedicated to client servicing) 6|P a g e
  • 7. Process Excellence at Credit Agricole - PEX Network Case Study VIEW FROM THE BUSINESS INTERVIEW WITH LAURENT RIPOCHE, HEAD OF TRANSACTION & COMMERCIAL BANKING (PROJECT SPONSOR), CREDIT AGRICOLE CORPORATE & INVESTMENT BANK Laurent Ripoche is Head of Transaction & Commercial Banking (TCB); he has been in this role since April 2007. He began his career in 1988 with Crédit Lyonnais retail banking. In 1992, he worked in Fixed Income Middle-Office. In 1995, he became Corporate Relationship Manager in Paris, then, in 1998, project Manager RAROC Tools / Economic Capital. In 2001, he was appointed Head of Credit Risk Management in Asia - Pacific (Calyon), then in 2005, project Manager Basle II for corporate clients. He was Sponsor for the Cash Management project, taking responsibility for coordinating the management decision making on this front to back business line. WHY WAS THE CASH PAYMENTS WHAT WAS THE MOST IMPORTANT PROCESS IDENTIFIED AS A STRATEGIC THING FOR YOU TO ACHIEVE THROUGH OPPORTUNITY FOR IMPROVEMENT? SPONSORSHIP OF THIS PROJECT? The Cash Payments business between 2008 & I am personally convinced of the value of the Lean 2010 had to cope with the scissor effects of: Six Sigma methodology. I learned about it during my MBA and beyond my business objectives I  30% fall in revenue (decrease of interest wanted to test the applicability of this approach to rates) a banking environment where processes are less materialized than in the manufacturing world.  20% increase of its cost base As a sponsor the most important thing was to It was a question of survival to streamline this quickly define the objectives, the scope of the end business, our end to end processes across the to end processes and the geographical location of whole value chain in order to reduce cost, but NOT activities. Through a first data analysis we were at the expense of quality. The strategic objective able to do an efficient scoping of quantifiable for Cash Payments business is first to increase objectives that could be reached through a quality as valued by clients and secondly to reduce pragmatic approach. the cost base of the operation. Launching such a project was a good opportunity to reach these two Another important aspect of my role as a sponsor objectives. was to allow the methodology to highlight the axis for improvement (confirming some of manager’s feelings both in Front Office and Back Office) rather than direct the outcome of the project top- down, so that data leads the improvements in a transparent manner. 7|P a g e
  • 8. Process Excellence at Credit Agricole - PEX Network Case Study WHY DO YOU THINK THE APPROACH FO on Sales, specializing people in a value added middle office and simultaneously reducing cost TAKEN BY THE LEAN SIX SIGMA TEAM through lowering the number of manual AT CREDIT AGRICOLE WAS SO operations and eliminating the duplication of SUCCESSFUL? effort. One key success factor was that the project team We changed our way of working on the global end was very transversal and balanced between Front to end filiere, focusing on client satisfaction and in Office (sales), the operational business teams and this way the improvements are strategic for our the Back Office. Coached by the PRIME Lean Six business line! Sigma specialists, everyone involved participated well in workshops, where everybody was able to IN WHICH WAYS DO YOU THINK THE talk without constraints. LSS facilitation oriented LEAN SIX SIGMA TEAM DELIVERS VALUE the sessions towards shared objectives and people TO THE BUSINESS? shared their ideas very freely and reached a consensus on solutions rapidly. The strength of Apart from the quantifiable benefits, the cost these workshops was that all levels of the reduction, we all improved our process organization (management and operational) understanding and learned from the operational expressed themselves freely without feeling that people (who experience the processes on a day to conclusions had already been made in advance of day basis) and engaged in transversal teamwork these sessions. As a consequence the axes of for a common goal. All actors, from front to back, improvement were all validated by consensus. valued the focus on quality as the key driver for this business. We know our business through intuition, but with quantifiable measures it is difficult to refute the need of improvement either on our process or our organization. THERE ARE SOME WHO ARGUE THAT PROCESS IMPROVEMENT IS A STRATEGIC RATHER THAN TACTICAL ISSUE. WOULD YOU AGREE? For me, it is both strategic and tactical. In this project reducing manual operations was a tactical objective (linked to cost reduction) but we continually kept in mind our strategic objective to improve our commercial dynamism. The approach allowed for the elements of the service valued by the client to be quantified. By re-shuffling the organization of the end to end filiere, we globally delivered recognized value that the customer is willing to pay for. This was achieved by refocusing 8|P a g e
  • 9. Process Excellence at Credit Agricole - PEX Network Case Study LINKING PROCESS IMPROVEMENT WITH STRATEGIC BUSINESS OBJECTIVES INTERVIEW WITH ISABELLE MONIER-VINARD , BLACK BELT & HEAD OF CREDIT AGRICOLE CORPORATE & INVESTMENT BANK LEAN SIX SIGMA PROGRAMME (PRIME) Isabelle Monier-Vinard is the Head of the Operational Excellence Initiative “PRIME” (Process IMprovement & Efficiency) at Crédit Agricole Corporate & Investment Bank (CA-CIB) since 2009. She manages both the delivery of process excellence and the wider adoption of the Lean Six Sigma methodology within the company from the Front Office to the Support Functions. As programme lead she supports the deployment strategy within the organization and is responsible for assuring the quality of PRIME project deliverables and the follow up of the LSS methodology and mindset. Isabelle started her career in the Group Internal Audit department of Banque Indosuez. In 2000 she joined Société Générale Corporate and Investment Banking where she took various management responsibilities in the Equity Derivatives' Operations Department. In 2007, Isabelle joined CA-CIB as COO of Capital Markets' Operations Department to then become the Chief of Staff to the Global Head of IT & Operations. THROUGHOUT THIS PARTICULAR HOW WAS THIS PARTICULAR PROCESS PROJECT, I UNDERSTAND THAT YOU IDENTIFIED FOR IMPROVEMENT? RAN A LOT OF WORKSHOPS AT EVERY A Cartography of 57 end to end processes has LEVEL OF THE ORGANISATION.. WHY been defined by the general management as WAS IT SO IMPORTANT FOR YOU TO targets for review by 2014. We ran a project TAKE THIS APPROACH? selection with the key stakeholders, and it saw the cash management process as a good opportunity. My team and my role within this programme is as When we say key stakeholders we mean front a facilitator for change, but we cannot own the office and support function management were change implementation and the new processes involved in this project selection. On top of that, that will be implemented. So for us and for the the head of cash management business - the front company, it is key to have the business in the office - was also very keen on participating in this workshops agreeing on the future state, because it project. secures the effective implementation. The cash payment project crosses different departments – It was important right from the start to have the front and support – and even within these involvement of both front and support function different departments there are siloed teams. So employees, a very strong sponsorship from the it was critical to get all of these different head of the front office. It helped us to have a full stakeholders in the same room and agree on end to end review of this, what we call here in our common improvement objectives. The key was language, a filiere, meaning we go from the front really to give them the ownership of the issues: to the back of the process. 9|P a g e
  • 10. Process Excellence at Credit Agricole - PEX Network Case Study first of all the ownership and the With these four, in fact, key cornerstone acknowledgement of problems and the solutions principles, we will still be able to translate and to and secondly of all the change management adapt to our general management’s strategic issues, before launching the implementation plan. objectives, and to deliver exactly what is expected from this initiative. But on top of that, the key WHAT WOULD YOU SAY WAS THE MOST element for me is conviction and pragmatism - not DIFFICULT ASPECT OF THE PROJECT, going too fast, not too slow, but getting to exactly AND HOW DID YOU OVERCOME IT? where we need to be. In every investment bank, the front office and RIGHTLY OR WRONGLY, MANY TEND TO support function do not naturally see their ASSOCIATE LEAN SIX SIGMA WITH COST activities as a transversal and common state. CUTTING, AND NOT REALLY A WHOLE Bringing a front to back shared understanding was LOT MORE. DO YOU THINK THAT THIS IS the main challenge for us in this project – we had AN ACCURATE ASSESSMENT OF WHAT to convince all the different teams to overcome LEAN SIX SIGMA CAN REALLY BRING TO their siloed organisation towards an end to end THE BUSINESS? view and ownership of their activities. To do that, we used client focussed data and In my opinion, Lean Six Sigma is not about cost linked each operational silo and its performance to cutting. It is about efficiency. The key message I their client satisfaction and global metric. So carry around the company is about all of us looking everything was data driven, which is very for efficiency. Anyone can decide to do top down important to make in fact all these different key cost cutting, but I don’t believe that brings stakeholders converge towards a search for sustainable efficiency to the organisation. improvement. In fact, we were able to effectively By deploying a Lean Six Sigma approach, we identify the defects and their root causes in a contribute to performance. In a sense, we perform factual way, regardless of whether they were in a sanity check on our current processes and on the the front, or, the back office. So it was very organisation. We bring four key elements to the important to have all this data driven analysis table with regards sustainable improvement. because it helped to bridge the silos, and to make These elements are: securitisation, monitoring, people work together productively. client satisfaction, and global efficiency. I believe that what Lean Six Sigma brings us is how to be TAKING A MORE STRATEGIC VIEW, I better in a measurable way that our clients, the UNDERSTAND THAT PART OF YOUR business and the employees recognise. ROLE AND YOUR AIM AT CRÉDIT AGRICOLE HAS BEEN TO BUILD A WHAT TECHNIQUES DO YOU EMPLOY TO SUSTAINABLE AND SELF-SUFFICIENT REALLY SUPPORT THE OVERALL LEAN SIX SIGMA PRACTICE THAT CAN STRATEGIC OBJECTIVES AT CRÉDIT REALLY TRANSLATE THE STRATEGIC AGRICOLE? OBJECTIVES OF MANAGEMENT INTO A SPECIFIC CHANGE AGENDA. WHAT DOES If I go back to the four main principles I mentioned THAT ACTUALLY LOOK LIKE TO YOU? earlier - adaptation, pragmatism, delivery and conviction - we can translate them into eight After three years of building this practice - the first execution principles that need to be carried out in Lean Six Sigma practice that this company has ever order to bring value to the company. First of all we had - I would summarise our journey with four need a clear and constant sponsorship from words: first, adaptation, second, pragmatism, general management, something that we have third, delivery, and the last, conviction. here. The second execution principle is a pragmatic and global approach 10 | P a g e
  • 11. Process Excellence at Credit Agricole - PEX Network Case Study through a project selection aligned to our general FINALLY, WHAT ARE YOU DOING TO management objective, and also a project REALLY MAKE YOUR LEAN SIX SIGMA approach adapted to the issue we have to cope ACTIVITY SUSTAINABLE FOR THE LONG with. TERM? The third principle is the collaborative project execution in two pillars: we always work with a As I said, we do run our project systematically with mixed team of in fact Lean Six Sigma experts and a mixed team of Lean Six Sigma experts and operational staff, and we still focus on the middle operational staff. So the first thing is that these management involvement and ownership at the operational staff free up half of their time to end of our project. become part of our extended team. That means that they are really part of the project team. We The fourth is a strict protocol for the follow up and thoroughly train them, coach them during all the the acknowledgement of our results. By this I projects, and ensure they use the Lean Six Sigma mean all results - financial and non-financial. These tools effectively. This is so that we do not have to are followed in the control tower that we are in carry everything by ourselves. We have trained charge of, and for all of the identified gains, we almost 100 operational staffs who are now a involve Finance in the agreement of our community who understand our approach and are monitoring process. This is key for us, because it able to roll out and use Lean Sigma tools in their gives the initiative real credibility in terms of own daily work. When I'm talking about efficiency and improvement. operational staff, we try to onboard different levels of operational staff, meaning just an The fifth one is the training of operational staff to employee working on the process, but also middle be able first of all to get them involved concretely managers. We give them the opportunity to be in the project, and secondly to enable them to be part of a global review end to end of the process able to roll out any micro improvement initiatives which they normally don’t have the opportunity to in their own activities or propose new ideas for do. improvement. Governance, the sixth one, to involve each “rung” of the hierarchy within Second, we focus our project delivery on management, which includes top management. quantifiable benefits for our clients, and delivering What that gives you is a strong investment of also to the middle management sustainable tools conviction by top management for the like process maps, operational risk metrics, programme. capacity models and competency matrices that they can still use after the project has ended, and Seventh is the communication, which needs to be that will be in fact part of their daily monitoring very active, and communication is still on two tools. things. First of all, the programme objectives, to be very clear with everybody within the company In parallel, we are building a Lean Six Sigma about the objectives we are looking for, and also academy that will allow us to train more people to communicate on results - and especially outside of our core project focus. In fact, our success. We need to reward also operational process expertise is recognised outside of the Lean staffs who have been working with us on this Six Sigma optimisation core focus because we are improvement project. And the final principle is to now involved in key strategic IT transformation have a dedicated team of very motivated people projects for which we are in charge of the process looking for projects that will enable change and contribution in designing the target processes provide value to the company. before IT configuration. 11 | P a g e
  • 12. Process Excellence at Credit Agricole - PEX Network Case Study ABOUT PROCESS EXCELLENCE AWARDS The Process Excellence Awards have been established to honour, recognize and celebrate projects that demonstrate true best practices. Entrants are assessed on the use of methodology, business impact, and excellence within the practice of Lean, Six Sigma & Business Process Management (BPM). Judges for the PEX Network awards are assembled of experts and business leaders working in industry. A full list of European award winners 2012 can be obtained on PEX Network.com. 12 | P a g e
  • 13. Process Excellence at Credit Agricole - PEX Network Case Study PEX Network Fast About Us Facts WHAT IS THE PROCESS EXCELLENCE NETWORK? PEX Network is an online, free to join, membership portal providing process professionals with exclusive access to a library of multimedia resources from top executives on Lean Six Sigma, BPM, Operational DIVISION LAUNCHED: 1999 Excellence, Continuous Improvement and other process excellence related topics. WEB PORTAL LAUNCHED: 2008 The Process Excellence Network has a subscribed membership of 80,000+ with an additional 20,000 connected to us via our social networks and a MEMBERSHIP SIZE global contact database of over 450,000. Total Membership: 80,000+ In addition to online resources, PEX Network organizes 30+ targeted face- to-face events globally per year with industry specific focuses on Financial Growth: 800+ members per week Services, Telecoms & Utilities, and Energy. We also hold major cross industry summits on process excellence in Orlando, FL (PEX Week) and in London, England (PEX Week Europe) every January and April. SOCIAL MEDIA CREDENTIALS ABOUT THE EDITOR LinkedIn: 10,000+ Members Diana Davis is editor of PEXNetwork.com and follows trends in process Twitter: 2,300+ followers excellence including Lean, Six Sigma, and BPM. She worked previously as a producer with Associated Press Television News and she has also worked in marketing and business development in the software industry. Davis EVENTS holds a Master's in International Journalism from City University, London and a BA in English from the University of British Columbia, Vancouver. She 30+ globally per annum can be reached on diana.davis@pexnetwork.com. CONTACT US TOPICS COVERED Website: www.pexnetwork.com BPM General Inquiries: inquire@pexnetwork.com Lean Telephone: +44 (0)20 7368 9300 Six Sigma Performance Management Change Management Data Management Information Technology 13 | P a g e