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Transforming performance measurement and reporting

Find out how Third Horizon worked with a major financial services organisation and its biggest client to deliver revised key performance indicators - and a better framework for measuring and reporting them.

Background
Against the background of a broader initiative to standardise client service level agreements (SLAs) and performance reporting across its customer base, our client had an urgent contractual requirement to review the key performance indicators (KPIs) used to report performance to its largest fund administration client. Both parties were concerned that measures in the existing performance reports did not reflect actual performance sufficiently.

The organisation and its client needed an independent party to work with them to jointly develop and implement the revised KPIs and framework for measuring and reporting them.

Our Role
Third Horizon was engaged to help structure and facilitate the KPI development process and the reporting framework. This was achieved through:

  • Close collaboration with the internal business teams to review the existing SLA and clearly define KPIs as measurable outcomes
  • Conducting joint workshops between the provider and its client to agree business impact of KPIs not being achieved and subsequent weighting
  • Development of a framework based on this weighting to allow categorisation of KPIs for use in a Service Credit Model implemented between the provider and its client

Results
Development and sign-off of revised KPIs was achieved in the timelines required, enabling our client to meet its contractual obligations to its client. The revised KPIs and performance reporting framework was agreed jointly, with subsequent reporting against the KPIs implemented.

The framework and methodology were adopted for further major KPI review with a client.

Additional information