New Innovations
to Make the Customer's life Easier
All departments contribute to the organisations' growth in different ways with different impact level. To ensure a positive outcome when you deliver innovations make sure you get customer feedback and measure its impact. Here are some new innovations transforming the client and employee experience.
Marketing Creative
Magic Umbrella redefined how umbrella companies connect with recruitment agencies and contractors by launching a disruptive digital campaign breaking through the industry norms. By showcasing its unique selling points, the campaign emphasized the unparalleled value and support Magic Umbrella delivers to its clients. The results were remarkable, with a surge in brand visibility, significantly higher click-through rates, and a notable increase in website traffic. Additionally, social media engagement saw a substantial boost, reinforcing the campaign's impact. This success was further bolstered by a collaborative content strategy, supported by the Sales Director, ensuring alignment with broader business goals.
ONB/Pensions
As part of their pension supplier transition initiative, the ONB/Pensions team established a new structure and streamlined procedures for setting up pension schemes. This approach was carefully designed to avoid additional fees, resulting in significant cost savings for the company. Moreover, the team successfully integrated the pension setup process with direct debit (DD) payments, overcoming past complexities. This integration delivered a smoother, more efficient experience for pension members, further enhancing the overall effectiveness of the new system
Corporate Compliance
Corporate and Finance Compliance collaborated to deliver a Training Presentation on Intercompany Relationships to finance departments. Through multiple sessions with the Accounting & Finance (A&F) teams, the training effectively addressed knowledge gaps surrounding the complexities of intercompany agreements. This comprehensive presentation equipped the teams with a clearer understanding of their daily responsibilities, enabling them to avoid potential errors and improve overall operational accuracy.
Acknowledgment of Innovations and Future Refinements
We take great pride in the innovative contributions from all the departments, each of which plays a vital role in creating a more efficient and streamlined workflows. While these projects are already making a significant impact, we also want to highlight the many other innovations introduced by our teams. Some are still in early stages, others require refinement, and a few are yet to be fully implemented—but all of them reflect the ingenuity and dedication of our people
We thank the Assurance Team for their exemplary work on the Protocol Audit. This thorough initiative, involving a meticulous review of processes and a comprehensive 50-page report, has already provided actionable recommendations to address operational gaps and refine the daily workflows of our Pension Team. Your work is not only enhancing immediate efficiency but also laying a strong foundation for long-term success.
We also extend our gratitude to the Invoicing Team, whose enhancements to the Client Commission Calculation File have been pivotal in streamlining how we manage our dynamic client base. Your diligence in adapting to frequent client transitions, ensuring cash flow accuracy, and reducing manual input demonstrates an unwavering focus on scalability and precision. These improvements are directly contributing to better service and more competitive offerings for our clients.
We also wish to recognise and thank the Customer Journeys for introducing new methods of gap identification and root cause classification for the IMC journey. By fostering a problem-solving friendly culture, this initiative inspires targeted innovations that address core challenges and create meaningful solutions.
Finally, we thank all the teams’ contributions are not only enhancing our operational efficiency but also transforming the client journey. As we celebrate these accomplishments, we encourage all teams to stay motivated and continue to think outside the box. Your creativity and forward-thinking approaches are the driving force behind our success, and we are confident that the best is yet to come.
Corporate Compliance
After enhancing the screening and shortlisting procedures for the Nominee Directors pre-onboarding process, the team has successfully revised the grading system in collaboration with Nominee Sourcer support. The new and improved Nominee Assessment phase now incorporates stricter evaluation and approval standards, ensuring that all nominees embody a polished and professional corporate profile. This robust approach strengthens the company's interactions with external parties and partners, significantly elevating its reputation with financial institutions, stakeholders, and end clients.
Corporate Compliance
The team introduced a Unified Terminology for UK Company Structures alongside an updated Companies Brand Identity, enabling all collaborative teams to operate under a shared language when utilizing Datahub and Tableau reports. This initiative fosters alignment across teams and brands, streamlining collaboration, enhancing workflows, and ensuring consistency in how data is communicated and utilized across the organization.
IT/App Dev
The team organised and delivered a comprehensive PM Data Hub training for the entire organisation, tailored to address learning gaps identified through the employee feedback survey. The training featured interactive Q&A sessions to create a memorable and engaging learning experience. This initiative not only improved team proficiency with the platform but also reinforced a culture of continuous learning and collaboration across all departments
Assurance
In addition to evaluating the Protocol Performance of each department for Q3 2024, the Assurance team introduced a new Performance Analysis report that compares each department’s performance against the previous quarter, focussing on areas of improvement, decline and stability. The team has also enhanced their Protocol Management Tracker file that monitors all organisation’s protocols ensuring all departments’ internal records are maintained consistently updated and reflect accurate information in the Nuclino software. The tracker also maintains protocol amendments made within the quarter, addressing aspects that Nuclino cannot capture, thereby providing a more precise and effective evaluation across departments.
Corporate Compliance
The team has improved their Bank Application Bundle, capitalising on recent incidents related to bank applications. The upgraded version now comprehensively illustrates all required information for each application, aligning it with every bank’s specific application process. This allows the team to effectively address any potential requests or questions than may arise during the application stage. As a result, the Banking team can process applications more quickly, leading to faster bank accounts approvals while the Corporate Compliance team stands ready to provide meaningful support where necessary to expedite the overall process.
Corporate Compliance
The Handbook for Legal Compliance Documents was created by the legal consultant assigned to Finance Compliance, a division of the Corporate Compliance department. This handbook serves as a comprehensive and practical guide outlining the procedures for ordering and maintaining legal compliance documents. It covers the relevant documents required for Due Diligence (DD) packs for clients and banks. In addition to being a detailed guide for managing compliance documents, this handbook will serve as an essential resource for onboarding new team members, ensuring they understand the procedures and maintain consistency in document management.
During a recent audit, Corporate Compliance identified that many director signatures in the records were of poor quality. In response, the department took comprehensive steps to restructure the Directors Signatures, ensuring that clear, high-quality signatures are now available for all current and former directors. Moving forward, each new director onboarded will have their signature created from scratch, with the highest level of precision and quality. The improved files has been delivered to the collaborative departments, including Legal, Onboarding, and others, to ensure consistency and accuracy across all departments, setting a new standard for operational excellence in the Nominee Account Management journey.
Likewise, a similar Bank Applications Audit took place to address incidents involving the audits of all utility bills, rent bills and bank statements used as proof of address for future bank applications and ongoing compliance reviews. After completing this audit, the team has improved the banking compliance of these bank applications, thereby expediting the account opening process and maintenance.
Credit Control
Innovation 1
Credit Terms Due Dates Management
Effective credit control relies on the accurate tracking of audit file due dates and corresponding outstanding or settled amounts. Before any client interaction, whether sending reminder or chaser emails, creating payment plans, conducting aging analyses, or preparing dashboards and PL/CT reports, it is essential to verify credit terms (CT) due dates to ensure precise reporting. Previously, due dates were manually entered at the start of each year by the Credit Control team for each week or month, a process prone to human error and inefficiencies. Frequent changes in client terms, ad hoc requests, and quarter resets meant that dates were often altered, requiring updates across multiple fields.
To address this, Credit Control implemented an innovative solution to automate the creation of audit files. By introducing a mapping table for each client, they can significantly reduce human error, ensure the accuracy of Tableau reporting, and save valuable time. This automation not only streamlines the credit control process but also enhances the reliability and speed of financial operations.
Innovation 2
Annual Active Client Reassessments
To address the growing complexity and workload in the Credit Control department, the need to streamline the credit evaluation and reassessment process for our active clientele has become apparent. Credit evaluation is traditionally a time-consuming task, requiring the collection and analysis of data from multiple sources, such as Companies House, client accounts, Experian reports, and Credit Safe reports, followed by a thoughtful interpretation of what this data means for the company. Recognising this challenge, the team developed a partially automated credit evaluation tracker, designed to streamline the annual credit reassessments. This tool enhances efficiency by combining automation with data aggregation, significantly reducing the time required for credit evaluations. Key tasks such as data entry and calculations are automated, allowing for more comprehensive analyses and well-informed decision-making.
Invoicing
Since the Invoicing Team manages daily communication with clients, processors, and internal departments, frequent invoice changes demand high-level organisational skills. To meet this challenge, the team developed a comprehensive invoice live tracking system, a unified Excel sheet that records and tracks all adjustments, charges, and requests in real-time. This tool streamlines the process of handling requests from hundreds of active clients each day, making the invoicing process more efficient.
The tracker includes additional fields for notes requiring clarification, along with the week they refer to and the amounts to be charged. Being live and automatically updated, it ensures anyone can access the most up-to-date information for each client at any time. Client Services Manager, who engages directly with clients, also have access to this file. These clients frequently request additional information or modifications to invoices, while internal departments ask for specific expenses to be reflected.
This innovation significantly enhances accuracy, reduces errors that could affect client relationships, and ensures all updates are reflected properly, promoting optimal cross-departmental collaboration.
Marketing Creative
The creative team has taken a groundbreaking leap with the launch of Benefit Wave, a new benefits provider website that redefines digital engagement. Central to this innovation is a cutting-edge graphic design and a fully customisable digital persona, meticulously crafted using the Canva platform. More than just a visual element, this digital character embodies the brand's essence, enhancing the user experience by making content more approachable, engaging, and visually captivating.
This shift represents a bold move away from conventional static website designs. By introducing a dynamic, adaptable digital character, the team has elevated the website into an interactive and personalised benefits hub. Not only does it provide information, but it also creates a vibrant and immersive experience for clients and employees alike. This signals the future of user-centric digital interfaces, pushing boundaries in engagement and interactivity.
Business Intelligence
The Business Intelligence team continues to play a crucial role in optimising data management visualisation by supporting various departments in migrating extensive reporting datasets to the DataHub. This week, the team spearheaded a mass import of Assurance Tracker data for the Assurance/Protocols department, ensuring seamless integration and enhanced data accessibility. Additionally, they developed a specialised module for the Banking team, designed to securely store card credentials and link them with existing accounts. This advancement significantly enhances the organisational functionality of the input data software, enabling streamlined operations and collaboration across departments.
CEX
CEX has developed and distributed the Seasonal Employee Survey (Summer Edition) to gauge employee sentiment on the distinct workplace challenges arising from seasonal conditions. The questions were focused on summer-related factors that may affect performance and motivation, such as heat, and holiday depression, aiming to enhance overall comfort, efficiency, and support from the organisation. By regularly capturing employee feedback and addressing seasonal challenges, this survey can foster greater employee satisfaction and boost morale during challenging times. It also demonstrates the company's genuine care for their personnel by committing to satisfy workforce needs, reflecting a culture that profoundly wants to improve the working experience with dedication to employee experience initiatives based on survey input.
Marketing Creative
The team developed two client-facing touchpoints in collaboration with Corporate Compliance, ONB, and Statutory Accounting Compliance units, ensuring transparency and payroll tax compliance for companies acting as employer of record and meeting the legal obligations under HMRC regulations. Firstly, they created five Tax Compliance Letter templates for existing and transferred clients, covering various HMRC-required declarations and statements, such as Declaration of VAT compliance, Director Statement, Compliance Confirmation Statement, Confirmation of Tax Compliance, and Tax Compliance Statement. Additionally, a Quarterly Compliance Overview digital brochure informs clients to engage about the company’s regulatory actions, overall corporate compliance policies and pending actions. This material is crucial for maintaining good standing with tax authorities and avoiding potential risks associated with non-compliance. It also serves an educational purpose, helping clients understand the complex regulatory landscape and the actions taken on their behalf. Ensuring robust compliant client communications is also a differentiating factor in the market, potentially giving the company a competitive edge over less transparent competitors.
HR
The team developed an employee engagement report in collaboration with IT/App and BI teams to capture the organisation’s workforce experience. By leveraging analytics from diverse engagement metrics and sources, including PM Datahub, and Bamboo HR, this innovative tool generates an overall engagement score, offering insights into employee satisfaction, productivity, and turnover risks. This enables HR to proactively address engagement issues and tailor strategies to boost employee morale and performance. The report's user-friendly dashboard facilitates easy tracking of engagement trends across departments and teams, empowering and fostering a more agile organisational culture.
Invoicing
A system limitation sparked innovation. When Sage couldn't generate SBI invoices, the team developed a unified template system consolidating all platforms and customer information. Users now create invoices with a single click, automatically adjusting formatting based on customer selection. This innovation replaces 150 individual templates with one efficient file, streamlining the process for the invoicing department. Implemented two weeks ago, this system has significantly accelerated invoice generation, centralizing information and boosting productivity.
Bookkeeping
The bookkeeping team has developed an advanced Excel-based tracking system to improve workflow and data accuracy across finance departments. Their Historical Transactions Recording File system monitors tasks for all companies recorded in the new Sage ERP, showing monthly progress. It allows finance team members to log activities, preventing double entries and missed transactions. Key features include a comprehensive task list per company, monthly tracking, and a centralized log for transparency and efficiency.
How to manage Innovations
Banking
The banking team marked a significant milestone in their operations when opening and maintaining bank accounts: the card processing journey. Each new bank account comes with a debit card, and according to their regulations, every card must be sent directly to the Director at their office address. However, given the large number of open bank accounts, managing and tracking these cards has become an increasingly challenging task. Moreover, they've encountered a troubling issue: many of these debit cards have been lost during the process.
Therefore, they have transformed their journey by going from physical to digital. Instead of waiting for a Director to activate a debit card at an ATM or through a transaction, they proposed a new digital service with their banking partner to streamline this process. They have introduced virtual card processing, revolutionising their approach to card management and enhancing security and efficiency.
Invoicing
The Invoicing team has successfully streamlined complex payroll processing for the acquisitions model, achieving accuracy in employee data during the pre-processing stage. They tackled the complexity arising from various payroll systems that caused delayed invoicing and calculation errors when generating separate invoices for each customer across a large clientele. The team's solution: a new consolidated file that extracts total amounts using specific formulas, significantly reducing time and effort.
Marketing Creative
In pursuit of brand differentiation across all platforms, the Marketing Creative and Corporate Compliance teams have developed a new, customisable Due Diligence Pack structure. This innovative pack is tailored to each platform's operations and business model. It features customisable unique selling points for each brand, extensive product descriptions focused on client benefits, and a comprehensive overview of the brands' service portfolio. The pack culminates with personalised client journeys including a final page detailing the client experience, uniquely phrased and visualised to match each brand’s profile and operations. This approach ensures a more engaging and well-informative presentation for the clients and other parties.
Business Intelligence
The team has introduced the 'Datahub Soft Delete' capability. Soft delete is a concept used in software development to handle the deletion of records or data in a way that allows for potential recovery of the deleted items. Unlike a traditional (hard) delete, where data is permanently removed from the database, soft delete involves marking a record as deleted without actually removing it. In this particular case, soft delete prevents accidental data loss for all the available tables and the potential risk of breaking the relationship between various tables. Therefore, the system administrator can easily restore the data, as it is not physically removed from the database. This can improve the user experience by reducing anxiety about accidentally deleting data. Finally, soft deletes also have auditing and compliance benefits as they enable a user to maintain a record of when and why a particular record was deleted.
Banking
The banking team has been diligently collaborating with the BI team to establish the 'Banks' new reporting section in Datahub. This section focuses on banks, consolidating three internal reports into a single one with more comprehensive information. All relevant parties can have access to real-time data concerning the organisation's banking infrastructure, including details on active, abandoned, and in-progress bank accounts, along with critical dates, such as the time taken by each bank account institution to open a new bank account, and the average lifespan of banks accounts per company. This improves cross-departmental collaboration, particularly with Credit Control, Invoicing, ONB, AP, Bookkeeping, Statutory Accounting Compliance, as well as management teams that swiftly obtain necessary information for enhanced decision-making. This feature also increases visibility over the daily progress of the Banking team and the organisation at large regarding its banking operations. Extensive efforts have been made to collaborate with the BI team to create an intuitive interface. This innovation exemplifies a transformative achievement that extends far beyond its immediate scope. It not only elevates the performance of its originating department but also empowers other divisions to refine their strategic development through improved data accessibility. By breaking down information silos and fostering cross-functional collaboration, this initiative serves as a catalyst for organization-wide growth and efficiency.
Marketing Creative
In a stunning display of creativity and innovation, the team has crafted a captivating a video-graphic animation that showcases the hassle-free and advantages of the contracting services. The video, which is proudly hosted on the business' YouTube channel, addresses to the contractor workforce which is a critical and very demanding customer group of the umbrella model, aiming to transform the way the brand engages with contractors, setting new communication standards and outreach in the industry. With plans to feature this engaging content across multiple communication touchpoints, to increase brand awareness and ignite a renewed sense of motivation and trust among the contractor community, this video aims to serve as a powerful tool to inspire them and foster a deeper connection with the brand, recognising the challenges often faced in triggering engagement during the onboarding phase and maintaining a strong pipeline. The video elegantly highlights the unique selling points that set the business apart form its fierce competition while also promoting the benefits and cutting-edge portal services available to contractors.
Onboarding
The team has delivered the Client Implementation Presentation designed to internally guide and educate the ONB team members to deliver a seamless journey from the initial NCF stage to the ending milestone of the first invoice. This is a critical touchpoint as it helps the team execute appropriately all the necessary initial implementation steps in the back end to ensure an efficient onboarding experience for new clients in the front end. Even the most intricate technical phases of implementation are demystified through proper documentation, dedication to detail, and a deep understanding of the process. Combined with well-defined workflows and user-friendly guides to move from one journey step to the next, it transforms the complex into the manageable, unlocking the full potential of the ONB team and ensuring that every client's journey is marked by excellence and efficiency.
Statutory Accounting Compliance
In a remarkable display of innovation and commitment to financial transparency, the team has introduced and delivered a tracker file that monitors all bank cards charges associated with Companies House expenses. With this powerful tool at their fingertips, the team can now make informed and strategic choices when it comes to selecting the most appropriate platform bank cards for paying legal documents. From Confirmation Statements and company renames to SIC code updates, Director changes, and even company cessations, every transaction is carefully recorded and analysed, ensuring a level of financial oversight, previously unattainable and invisible.
Customer Experience
The team orchestrated the most interactive and engaging Company Quiz in the organisation's history! In a thrilling display of camaraderie and friendly competition, each department handpicked a champion to represent them in a preliminary online questionnaire. This initial round, meticulously crafted by 19 departments, featured an array of 19 though-provoking multiple-choice questions designed to test the participants' knowledge and quick-thinking abilities. As the excitement reached its pinnacle, the top four contenders earned their place in the grand finale, a fast-paced game show. Armed with buzzers, each finalist took centre stage to battle out for the ultimate prizes and certificates. The Company Quiz set a new standard for interactive employee engagement and company knowledge.
Invoicing
The team has customised the invoicing process for MOAT business with new invoicing templates including all the services breakdown alongside their pre-established price list. Each template categorises services by frequency, automatically calculating the monthly totals based on every price list. Additional formulas ensure accuracy and detect manual errors or duplicates, while also reducing significantly the processing time, especially for large volumes.
Credit Control
This is a dynamic come back with the revised Client Credit Terms Handbook, to provide clients the latest framework regarding their payment obligations. This comprehensive Handbook incorporates a dedicated file for sales people simplifying the complexities of the client’s credit journey and enhancing client communications and expectations. Furthermore, the team has produced and delivered two new Tableau reports, offering insights into PAYE and VAT/CT amounts collected and outstanding each month, critical information for various departments. These reports empower the Credit Control team to properly prepare customised reminder and chaser emails for clients with outstanding debts while keeping the management teams fully informed of their progress.
Invoicing
The team has delivered the Invoicing feature in the client's (employer) portal, (Engagement Hub). This is a groundbreaking innovation, as clients now have real-time access to their invoices, providing unparalleled convenience and transparency. Clients can also download their invoices for reference or record-keeping purposes. The intuitive interface allows for seamless navigation and a user-friendly experience. Live chat functionality is also enabled, allowing the Invoicing team to swiftly resolve customer queries and deliver exceptional customer service. The back-end design of the new feature is also worth mentioning, with Invoicing receiving instant notifications of clients requests and advanced analytics when invoices are accessed, ensuring timely follow-up. Finally, the platform's flexibility empowers the team to efficiently manage invoicing tasks. With customisable filters, they can retrieve invoices based on specific criteria, streamlining their workflow and enhancing productivity. This innovation couldn't have been realised without the invaluable support from the portal team in the UK, the Onboarding and IT/App Development teams. The first roll-out of the Engagement Hub with Invoices Edition has received positive client feedback regarding its effectiveness and functionality.
Corporate Compliance
The team developed and delivered a 30-day action plan as a roadmap for the allocation and differentiation of services provided by the MOAT companies. This action plan is based on several criteria, such as current status review, timeframes and timeline coordination, regulatory requirements, risk assessment factors, banking requirements and transactional compliance based on service offering. The plan helps the organisation ensure compliance in the areas of bank account openings and applications through proactive problem solving, advanced risk management.
Marketing Creative
Marketing and IT/App Development teams joined forces to create customised web forms for one of the companies’ structure critical websites. Despite significant challenges, the teams explored innovative plug-in tools and custom development solutions to delivery user-friendly and engaging forms that seamlessly integrate into the website while also leveraging data collection.
IT/App Development
The team has delivered an enhanced version of Datahub Project Management platform, increasing the loading speed in the workspace and the project list views which reflects improved reporting capabilities. The functionality of task table has also been improved, allowing users to add manual end dates to their tasks and sort fields according to their preferences. Department leaders can now access multiple departments' based on the organisation chart, and financial management teams have been given visibility to overview all finance departments.
Corporate Compliance
The team has delivered two significant milestones in their journeys: firstly, the Banking Compliance unit collaborated with the Banking department and introduced the innovative Pay.io bank application to streamline the arduous and time-consuming process of opening digital bank accounts. Concurrently, they've created a user-friendly the Pay.io Handbook for Directors to effectively manage their actions independently. Secondly, Corporate Compliance worked with Banking to develop a pricelist and calculated total amounts for each agreement under the MOAT structure. This initiative is designed to generate 9-month financial projections of VAT receivables customised to the services offered. Finally, the team conducted a thorough assessment of the requirements of each management company to prevent funds from remaining idle in UK bank accounts.
Statutory Accounting Compliance
The team has delivered their Dashboard for Outstanding Amounts on HMRC Gateway accounts for all clients, whether managed in-house or through self-processing. This user-friendly report allows both the internal team and Credit Control to consolidate data and identify clients needing payment follow-up, alongside indicating the total exposure for the company, inclusive of corresponding penalties. The deployment of this dashboard significantly reduces the risk of overlooking payments due to forgetfulness and enhances the meticulous management of all gateways, even when clients remit payments directly to HMRC.
Invoicing
After an extended period of meticulous planning, the team delivered the new SBI Policy as part of its 5-year plan, reaching a significant milestone in their journey toward operational efficiency and customer effortless touchpoints. The new policy ensures maximum convenience and satisfaction for clients entitled to this benefit by alleviating all relevant complexities during invoice issuance and assigning full responsibility to the Invoicing team rather than the clients. Although this entails increased workload for the team, it overwhelmingly enhances the customer experience, achieving customer value through effortless and seamless operations. Immediate and positive feedback further validates the efficacy of this initiative, alongside endorsements from the C-Suite board and collaborative teams in the UK. This achievement owes much to the collaborative efforts of the Onboarding team, whose expertise in procedural facilitation and stakeholder engagement has been critical to the successful implementation of this innovation.
GR Treasury
Invoicing
The team introduced a new way to enhance the accuracy of their audit data by eliminating duplicates or other entry errors that previously occurred due to copying and pasting from preceding entries. Given that the Audit is amongst the most critical files relied upon by various departments to develop their customer touchpoints, including Credit Control, Legal and Marketing teams, who generate customer documents using the unique reference numbers, ensuring data integrity is paramount. The new method entails automatically recording the unique invoice numbers throughout the year using a specific sequence. Advanced formulas have been applied to not only read former entries but also to highlight any duplicates. All unique reference numbers for clients and other internal invoices are recorded in a separate file, thereby making invoicing procedures more efficient.
Statutory Accounting Compliance
The team has developed a new tracker file for setting up new MOAT companies, featuring advanced formulas displaying progress and remaining tasks for completion. This file aims to report project aspects accurately and efficiently, ensuring prompt updates without delays. Designed for daily updates, its easy-to-use structure provides immediate and up-to-date information on the status of each MOAT company, streamlining tracking of pending steps across departments for completion. Additionally, it serves as a valuable reporting tool for upper management, facilitating prioritization to monitor annual GP and cease companies as needed
Corporate Compliance
The team has developed the Real-Time KYC Tracker File aiming to streamline Banking Compliance operations and improving efficiency in managing and following up on KYC documentation for Nominees. This initiative fosters proactive management, providing clarity on delays related to Nominee actions and creating a transparent operational environment across involved departments. In addition, as part of revising Business Plans and Due Diligence Packs, Corporate Compliance has integrated a concise Marketing Strategy to clearly outline the methods for acquiring new clients beyond direct sales efforts, including social media campaigns and participation in targeted industry events.
Marketing Creative
The Marketing department has implemented several new touchpoints to bolster the Professional Passport accreditation for the umbrella business. These initiatives are geared towards reinforcing the credibility of the brands through strict adherence to UK tax laws and regulations. Firstly, a dynamic pop-up window has been integrated into the website to immediately capture the attention of visitors, highlighting the accreditation status which is one of the most important unique selling points according to which recruitment agencies select umbrellas in their preferred list of suppliers
Secondly, all email signatures across sales and operational units have been revised to proudly showcase the company’s accredited status, ensuring consistent communication of compliance efforts. Finally, the professional LinkedIn page and the Professional Passport website which are crucial channels for the engagement of recruitment agencies and contractors are also promoting the umbrella business accreditation.
Business Intelligence
The ONB team's NCF report has undergone a significant upgrade, transitioning from its previous static quarterly format to a fully automated report. Replacing the current version which were just numbers given every quarter, now it dynamically incorporates real-time data from the ONB’s inputs into the DataHub. This transformative enhancement immediate access to up-to-date information, empowering involved parties to make well-informed decisions and respond swiftly to changing circumstances.
Accounts & Payables
The team has successfully implemented numerous innovations this period of time, despite the challenging and overwhelming workload and multi-faceted nature of this department. Firstly, they have created an advanced Payment Requests Consolidated file, which has halved the operational time required to reconcile amounts. Consequently, this has enhanced the payment history tracking process and mitigating errors, thereby also saving time for the Banking team in terms their own checks. In addition, in discovering an opportunity to address incidents involving incorrect disbursements, the team found a quicker method to verify client and platform accounts for BDFs. Finally, the team has identified internal strategies to improve their operational performance by utilising task management tools and calendars with automated alerts to help them prioritise their scheduled payments and be well-prepared for effective workflow management.
Assurance
The team has conducted rigorous monthly cycles of Quality Assurance Risk Management across departments, identifying and examining issues affecting operational efficiency. By meticulously analysing and assessing potential root causes, they lay the groundwork for sustainable improvements and mitigate risks. In light of this, the team's performance in quality assurance risk management is commendable, demonstrating a commitment to thoroughness and excellence.
Customer Journeys
We are very pleased to present on this website, a new tab menu Journey Maturity, allowing you to track on a monthly basis how your department is progressing in relation to touchpoints development. Are you an Expander, a Steady Advancer or a No Changer? Every month can bring touchpoint variations, but regardless of your journey profile, it serves as a great opportunity to review and redesign your customer journey to deliver amazing experiences. Remember, you can utilise this insight if you are stuck with finding new innovations or if same journey gaps reappear, even after developing innovations for them. Our department is always at your disposal for further development strategies for your touchpoints and innovations.
Invoicing
The team has never stopped evolving its tracking invoicing tools by adding new advanced calculations to their templates. This reduces significant operational time and the likelihood of manual errors. As a result, the preparation and issuance stages are faster in their journey without compromising quality when dealing with massive invoices for multiple companies.
Corporate Compliance
The team has taken a decisive step to restructure and update all the Due Diligence packs for the platforms, incorporating extensive information on industry insights and directors' bios. The enhanced content reflects the strategic vision of the organisation and aligns with the quality standards these compliance document require when establishing a new company and inspiring trust among the client community. In addition, the team has created a new document to track all the funding companies, providing comprehensive information, such as websites, accounts, and connections among various companies. This intervention addresses the issue of reduced corporate visibility of funding channels, leading to a third innovation: the creation of a fund flow file that strengthens the financial compliance further, ensuring easier banking compliance and transparency.
Invoicing
The team created a file including all the clients for whom net wages are processed, pay dates, client priorities and advanced formulas to notify remaining payments and task prioritisation. This way, payroll teams in the UK can provide their reports to Invoicing on time and ensure timely processing afterward. This innovation wouldn't be possible without the effort to collaborate with external parties, proving that it is not only vital to server the customer-end user but also other collaborators, teams involved in the same journey that need to be treated as customers as well. We all want the same thing in the end; retaining and nurturing a customer-centric culture to allow journeys to flow.
Customer Experience
The umbrella business journey is beginning to populated more and more touchpoints, aiming to attract and engage the contractor persona. CEX has updated the Prospect Book with more statistical information regarding mental health to enable the sales promotion of benefits and increase app usage. Contractors are difficult to get hold of due to their forever hectic assignment schedules. They are too busy to notice the benefits. A website live chat plugin research has also been provided to the Marketing team as an effort to increase the digital interaction in the earlier stages of their journey.
Apart from the front-end innovations, CEX is also taking care of the internal employee engagement journey. Granting upper management's financial support, the team has offered a lovely Valentine's Day Brunch, inspiring love and affection in the workplace. Finally, the team created an anonymous VDay blog for all the employees to post their funny 1st date stories anonymously and a 'match filter' on Instagram with all employees' photos waiting to be randomly matched.
Business Intelligence
This is a real achievement, an outstanding innovation that has taken the gathering of management/client information and reporting to the next level. The team has worked since Q2 2023 and eventually deployed the ONB software, which completely replaced the Client Masterlist file and seamlessly transitioned from Unique IDs (old classification system) to the NCF ID (DataHub) for links with all departments, especially for invoice audits.
ONB can now automatically generate a unique identifier for every NCF received per client, preventing duplicates that occurred in the past. ONB and Invoicing teams no longer need to discuss the creation of the Unique IDs, since they are automatically created, saving significant amount of time for both departments and BI as well.
The system is more restrictive and has reduced human errors in data entries by 90% compared to the previous manual work with excels. Data is input directly into the database, enabling real-time visibility and accessibility for other collaborators and stakeholders, provided the relevant access rights are provided.
IT/App Development & CEX
The two teams collaborated to deliver three innovations in the touchpoints area of lead generation tools and customer relationship management in the back end, between CEX and Sales interactions. Firstly, a lead generation contact form is filled by sales people, enabling them to personalise their prospect research requirements. They can tailor their research based on prospect industry, business size and other specs, while also they prioritising their requests depending on the urgency status. Data is obtained seamlessly as the requests are redirected to the CEX Lead Database.
In addition, the teams created a custom Zoho Module to manage CEX's workflow more effectively In particular, CEX is now notified via email for every new entry submission, so they don't miss urgent requests from sales teams.
Future-proof integration
In an effort to establish seamless CRM operations through integrations, IT/App Development team created an API integration between the contact form and Zoho CRM, so that all prospect info which is submitted by sales, will be automatically stored in the new CEX Module in the Prospect Book. Therefore, CEX team saves time processing prospective customer data for their research and innovations purposes.
Employee Engagement
Finally, the teams delivered a Mental Health Survey regarding Blue Monday, which is hosted in Bamboo. All employees are encouraged to share their opinions and emotions regarding their workplace experience.
This is an opportunity for HR to address mental health issues, measure employee sentiment across their journey touchpoints concerning retention, loyalty, employee wellbeing, performance, and therefore prioritise the relevant innovations.
Customer Journeys
The three Touchpoints Profiles. This is a performance metric for all departments regarding the progress of touchpoint development every month. The more you grow your journey with more touchpoints, the more likely it is to address journey gaps. However, there are cases where tweaked and simplified journeys are also an indication of journey evolvement. Depending on the innovation and operational activity, a department can be categorised in three distinct profiles: Expanders, Steady Advancers and No Changers. CJ measures the number of touchpoints per month per department and tracks changes in journey phases. Then, these results are periodically presented to teams and motivated them to track these changes every month.
This model is dynamic, and every unit can fall into a different category each month. Nevertheless, it is vital to monitor the touchpoints trends in the entire organisation by gaining a strategic perspective regarding the development of the departments in terms of capacity and resources. All these touchpoints insights are shared with teams and also presented in the mentoring meetings and discussed on ways to achieve a sustained development while also highlighting issues that prevent journeys from further expansion. Here is to get an overview of the Three Touchpoints Profiles.
Corporate Compliance
The team has created the Bank Application Bundle which includes company and director information, emails, websites, and other required information used during a bank account application for a Nominee. This innovation works as a guide with separate instructions for each bank, depending on the information required by them at the application stage. Therefore, inaccurate information or errors shared with banks have been significantly reduced.
Statutory Accounting Compliance
The team created an Interest Tracker file to monitor the total interests and penalties every month charged to companies, resulting from late client payments or missing statutory accounting tasks. This innovation provides multiple business benefits by offering a clear picture of total amounts paid each period. Additionally, it helps the department to track the progress towards reducing interest and penalties by the end of each year. This capability is crucial for cost control operations.
Invoicing & CEX
The two teams worked together to improve client communications in the invoicing stage of the customer journey. Newly onboarded clients have many queries that need to be answered, some of which require the professional knowledge of other departments. Therefore, Invoicing and CEX revamped client email templates to address these queries and templates are categorised based on the nature of client requests, such as invoicing items explanation, adjustments or missing elements, and ad hoc requests where other departments are involved in providing explanations. As a result of this innovation, client communications are smoother, and training new clients takes much less time in this phase.
HR & IT/App Development
The teams collaborated to develop and deliver a straightforward appraisal system for all the employees of the company replacing the older system that was time-consuming and difficult to navigate. HR provided quick and easy-to-fill performance management elements for both team members and business unit leaders to go through. IT/App Development team created the best platform to host the appraisal system on Bamboo HR software, which offers the capacity for performance reviews and serves as the central communication channel for all employees. The new appraisal system takes only a few minutes to fill in, making the follow up and feedback discussion with the supervisor easier and more constructive.
Treasury GR
The team delivered two innovations. Firstly, they enhanced the company's cashflow file with a year -to-year comparison to gain deeper insights into cash flow changes per year, month and week. The report also includes outflow data so that decision makers can have a clear view of financial activity both in and out.
Secondly, the team has organised all cost approvals in a comprehensive file, for HR and FM expenses to keep track of more details on approval activity, i.e., cost breakdown, authorised parties, payment method, and status of expenses. Therefore, it is now easier to manage and monitor costs with the relevant departments and prevent excessive spending.
Statutory Accounting Compliance
The team has created and delivered a comprehensive Company Matrix to identify and monitor changes in the corporate structure, especially when it is time for companies to be ceased or spare entities that need to be activated. This tracker file has significantly reduced the time and effort invested in this complicated task while also enabling real-time information for multiple stakeholders. Cost efficiency is also another vital element that comes with this innovation as it ensures the company does not spend unnecessary amounts to maintain companies that are no longer in use.
Business Intelligence (BI)
The team has created a new legal report, the Legal Document Matrix to monitor all pending company legal documents from order to shipping status and expiration dates. This includes legal documents for companies undergoing international bank account applications and those with active bank accounts.
Legal
The team has effectively amended the terms and conditions of internal agreements and in collaboration with Marketing Creative all T&C are now available on an online platform, This innovation meets the legal compliance needs for the Inter-Company business relationships, allowing clients to read and accept the terms electronically, thus becoming legally bound at this milestone of their journey.
IT/App Development
The team has researched and delivered a Banking Reconciliation Software and now Chief Finance Officers can start working on it. Reconciling all the bank statements is a time-consuming task for all A&F departments, and since time is money, now it is easy to match transactions in seconds and let the team focus on strategic financial activities.
IT/App Development has also implemented the Employee Wellbeing Survey to cater to employees' needs and provide inclusions on the workplace.
Invoicing
Invoicing has introduced a way to automate the processing of Attachments of Earnings Orders (AEOs) and the creation of the Statements with less effort and time. Advanced formulas can now populate the necessary employee data in seconds, given the increasing need for optimised workflows as the organisation structure grows and the client base expands.
Statutory Accounting Compliance
The team has found an effective way to communicate real time company changes and involved departments that need to track this information get alerts when a change occurs. The file including the recent updates is commonly shared on the cloud and participants can check and inform the department if upcoming changes affect their corresponding parts.
Corporate Compliance, Customer Journeys & IT/App Development
This is collaborative innovation where three teams worked together to deliver the first internal product knowledge quiz. This is an interactive learning experience that offers the key answers at the time of taking the test and offers a development score to the participant. There are more quizzes to come, while the learning gaps are going to be used in product knowledge journey enhancements.
Business Intelligence & Bookkeeping teams
This is a collaborative innovation between BI and Bookkeeping teams, who developed a reporting tool together enabling cross-referencing of data from the accounting software Sage with the records of the banking team which represent the actual bank account transactional information. As a result, no amounts are overlooked, and the time required for bank reconciliation process is now reduced by 80%. Additionally, all incorrect Bank Rec records are automatically highlighted to trigger immediate corrective action.
Customer Experience (CEX)
As we know, the CEX team innovates to improve the front end journeys of marketing, sales and customer service, but because employee engagement is the best strategy to deliver enhanced experiences, the team also innovates on internal employee engagement strategies. The best way to capture employees' sentiment on employer brand is through an Employee Engagement Satisfaction Survey. This survey brought many opportunities to the surface to enhance the employee wellbeing and other aspects of the daily working life.
Customer Journeys
We are happy to announce the establishment of our inaugural Operational Intensity Index, a customer journey management metric that indicates the level of activity within our teams in relation to innovation. After gathering the survey results that chart the intensity of day-to-day operations for each department, individuals can now gain an overview and strike a balance between rigorous operations and creative thinking. The results have provided valuable insights for the board members, allowing them to gain a comprehensive perspective on the interplay between operations and innovations.
Business Intelligence (BI)
The team has created an hourly updated dashboard. In addition, they have developed a system for all the teams to check company registration numbers to track any changes on the official website of Companies House. This innovation saves significant time for all the teams monitoring Companies House changes for various reasons
Corporate Compliance
The department has developed the Director Replacement Mechanism, which is an internal process to monitor all Director-related requests that need to be fulfilled with a 24-hour timeframe.
Invoicing
The team has effectively collaborated with BI to create a report which depicts the status of SBI/Support fees for all clients in a dashboard. This saves significant amount of time for all the finance teams seeking this specific information about SBIs
Credit Control
The team has recently implemented several innovative strategies to streamline the credit evaluation journey for existing clients. Firstly, the Credit Check Total File has been updated with the most current data offering real-time insights into their financial standing. Additionally, another Credit Check file has been restructured to be sorted according to the published financial accounts on the Companies House, facilitating easier access and analysis. Finally, to enhance the efficiency in the credit evaluation process, the team has developed a comprehensive evaluation report template, tailored to condense the time-consuming task of sifting through data from multiple sources, such as Credit Safe, and Experian credit softwares. By standardising this process, the team can now swiftly assess the financial positions of the clients and provide well-informed recommendations for a more efficient cash flow strategy.
Invoicing
The team has developed a Data Tracker tool, where they can confidently manage the data, maintain control over their usage, and avoid exceeding their allocated amounts.
This is critical for the invoicing operations as it is easier now to track different treatments based on new service agreements and therefore mitigate human errors regarding overcharging clients or missing invoices.
More importantly, this tool has a user-friendly interface making it easy for the users to navigate and have better view of business needs despite the unit's complex procedures.
Assurance
The department has completed and delivered its Handbook of 30 pages that outlines the principles, procedures, and standards to be followed by the Assurance Department within the Organisation to standardise the procedural best practices for conducting assurance activities.
This innovation has dual effect for both the department internally and the organisation. It ensures organization-wide consistency in the planning, execution, and reporting of assurance work but it also works as a guide for the maintenance of the quality and integrity of assurance activities. Furthermore it serves as a tool for newcomers to the Assurance, facilitating the transmission of knowledge and skills within the department. Bamboo is going to host soon this Handbook to educate all relevant parties.
Statutory Ac Compliance
The team has revamped their Liabilities Log file with advanced calculation formulas as a means to minimise human error and reduce significant amount of time when it comes to retrieving and updating the latest company information. Keeping things tidy and always updated is considered a cornerstone in journey management and innovation delivery, as accurate actions are accompanied with meaningful decisions.
HR
HR department has created a fully automated Recruitment Tracker to collect all incoming candidates' CVs from multiple recruitment channels and centralise them in way to easier manage their progress status in terms of communication planning or re-engagement in the future. This is vital not only in a talent management strategy, but in any project entailing multiple sources of knowledge and thousands of customer profiles. If HR has managed to systemise their candidate profiling to trigger quicker action plans, maybe you can be the next department to map out and systemise your customers' profiles to deliver something similar?
Customer Experience (CEX)
The team created and delivered a new tool for the sales people, the Sales Orientation Manual. This comprehensive and educational guide provides meaningful information to new sales teams to help them navigate through their sales journey from start to finish. This need has been efficiently addressed by sales during their induction experience, as they were lacking of a valuable, know-how guide to help them succeed and know what to expect when dealing with customers.
Some of the basic features this guide has are PEO industry insights, the business model, the prospective customer base, the sales pipeline, the sales KPIs and many other sales training tools they can have access to increase conversions and close the deal.
The motto is powerful: Educate Sales to Educate the Client.
Treasury GR
The team has created an internal manual for reconciliations and expenditures filing to make quicker and easier the process of recovering files from multiple sources and multiple people. The complete reconciliation file gathers all the expenses information alongside their categories providing instantly a full overview when executive decision is required. In addition, an expenditure historical data is now possible for proper budgeting for 2023 in collaboration with Facilities Management department. This innovation, although developed few months ago, this week has been evaluated based on planned versus actual budgeting and its viability until its extension date.
IT/App Development
New website analytics have been implemented in the Prospect Book that can monitor and analyse sales people's behaviour in real time, collect user data on adoption and generate reports based on usage, such as page views, login details, amount of time spend on each page, etc.
Treasury GR
The team delivered the GR Cost of Sales Actuals Annual Expenditure including a thorough and historic breakdown of GR region for all entities' expenditure. This is the natural result of a previous innovation that proved really useful for one company and now becoming same valuable for multiple businesses. This table can be either short with major cost centres or more analytical with big cost categories illustrated per company. This report is now a vital part of Treasury GR and submitted monthly to chief financial officers.
Credit Control
The team created their first internal Evaluation and Target Setting Sheet aiming to restructure their department and refocus the team members on Credit Control core business. The outcome was helping a lot with clear task allocation and motivation among individuals to reach their performance goals and assume more responsibility given the constant business development updates. This tool will be integrated with the HR's annual performance review at the end of the year, providing to senior management valuable insights on individuals', teams' and business performance ratings.
CEX
The team developed an advanced workflow for sales people who use the Prospect Book which determines whether suggested prospects are worthy of a commercial opportunity or not. This way only applicable prospects that fit certain business criteria can flow though the next phase in the sales pipeline and get easier converted to active customers.
Onboarding
The team has created and delivered the Introducer Statement to monitor real-time the wedges of introducers, whether they should be receiving fees and their frequency or when fees should not be payed out. This innovation also solves a serious financial loss issue where A&F departments were losing payment information about lost fees or fees never wedged.
Treasury GR
The team has improved its internal cashflow and expenses reporting evolving them into dynamic and flexible dashboards that can accommodate comparison analysis, making it easier for executive teams to retrieve filtered information about such vital accounting categories and thus enabling well informed decisions.
Customer Journeys
A new animation video to help you innovate with impact. It is about 12 principles in innovation management theory where departments can put into practice and get more chances to win on an incentive weekly round. If you follow these principles, from idea concept to innovation delivery, you can boost your personal growth, your department's performance and other business units' collaboration, your customer's improved experience and organisational development. From minor to major interventions, everything you do has an impact!
BI
The team delivered a critical innovation for the Invoicing team. They went through all Invoicing Audit Files, checking for missing formulas in the Totals BI sheets that used to draw all the data from the audits and they fixed them. This has a positive impact on the rest of A&F teams that share this file in order to track their own financial data, meeting the standards for real time information and accuracy.
In addition, BI has created an excel sheet to help the Bookkeeping team identify faster missing company numbers from their own lists when compared to the lists provided to them by the Statutory Accounting Compliance team. This saves significant time for Bookkeeping for their internal checking tasks.
The team has delivered two new BI protocols related to the general input of data in the Datahub and one more regarding NCFs.
Protocols & Assurance
The team has developed and delivered a Quality Assurance Risk Assessment Matrix monitoring and keeping track all issues identified during Assurance meetings throughout the whole organisation. This new tool serves as a main point of reference for providing all relevant information to the Executive team for further discussion and improvement action.
A first milestone has been reached, by addressing organisational and operational issues and their root causes in order to achieve efficiency, improved productivity and performance across all business units.
Legal
The team has made significant amendments to all the digital service agreements that have been properly branded by the Marketing Creative team. This reform helps the business to reflect the services provision in a more accurate and professional manner. Likewise, introducer agreements' digitalisation follows the same reform project and completed within one month, helping legal and onboarding team to finalise faster its terms.
Furthermore all the company legal documents for all the platforms have been updated enabling proactivity in terms of business and banking compliance. Finally, a new legal report chart has been created and delivered in collaboration with BI, to provide real time insights on executed agreements per month, per platform and per type.
Marketing Creative
New marketing material has been created and a lot of the existing has been rebranded, enhanced and updated with the latest information, most of which includes: new leaflet dedicated to the Systems Services on the benefits application for 3 platforms, a complete marketing pack rebrand consisted of 19 files, a new 2-page leaflet promoting the benefits app to contractors workforce, new flyers, client-branded, for pensions & wellbeing benefits, and a new employee engagement presentation promoting solutions. Marketing has also delivered a landing page promoting employee benefits for Google Ad Campaign for the external marketing agency to execute. For all these, 5-day activity, deliverables the team has received positive feedback by the CEO, the sales and engagement teams, reflecting an outstanding impact in the front end.
Moreover, the team has designed a questionnaire template for candidate Directors for the Corporate Compliance team to help them enhance their Due Diligence packs.
Statutory Accounting Compliance
The team has delivered a new tracking tool regarding Client Risk Exposure. In a single dashboard they can monitor the financial and compliance status of the client and the management companies. This consolidated data enables more effective decision making in risk management practices.
They have also came up with a structured action plan to ensure a risk free procedure during VAT registration and maintain the viability of the business model for the long term.
Banking & ONB (Pensions)
This is a collaborative innovation to ensure that information on pension payments is available and accurate for the teams. This way banking balances are always up-to-date for each and every new platform.
The team has developed a tracker tool to manage and monitor their invoicing lifecycle.
Invoicing
Invoicing
The team has created a new tracker file with all the clients' info that undergo constant changes, such as company and banking details. Therefore, it is easier now to raise invoices and minimise the risk of errors while saving significant time for internal operations.
Statutory Accounting Compliance
Black Box 2.0: The team has gone through an internal redesign of its department by improving their maps, milestones and the way their resources are allocated. Four specialisations have been established ready to take on any back office assignment to ensure well performing operations, efficiency and compliance. This was critical to be prepared for the new development of platforms and other structures and deliver an improved back office experience to other teams and third parties at any given set up stage.
Invoicing
The team brought a major innovation to the table which helped with their time management by producing invoices at a quicker pace. They created 30 template invoices for 5 clients based on compliance audit feedback in the front ent. In addition, these templates are enhanced with formulas that notify missing items or anything added as an 'extra', and thus creating real-time alerts on changes.
This is a typical example when an innovation has gain an impactful outcome by getting its feedback in the front end, while also combining the effort of taking it a step further in the back end by making internal processing much easier for the users without compromising the quality in the front end.
Marketing Creative
The team has developed and launched a new brand offering professional agency services as a strategy to penetrate different target audiences in the employment industry. The website is up and running alongside its relevant benefits application.
Furthermore, it is the first team the team has designed and delivered an Augmented Reality social media post for instagram and facebook for LWM brand.
Advanced technologies such as AR, VR, AI, machine learning, automation, quantum computing, robotics, are now the next-generation trend in marketing development by creating an immersive experience for the clients who make better choices by getting a better sense of how a product or service looks, works and feels in real life.
Customer Experience
The team has published in LWM Prospect Book the Sales Proficiency Assessment to empower sales enablement and product knowledge skills.
This innovation is also accompanied with an animation video of how to use the Prospect Book and explore its features while used by sales. The sales feedback is positive and makes the sales training fun and engaging.
Accounts & Payables
The team has created a new interactive dashboard with BI team, which allows the user to search for any invoice paid to date. Any details like payment date, amount platform etc., can be used to trace an invoice.
This is the foundation of a new database that can be updated on a frequent basis and thus be leveraged for improved decision making.
Business Intelligence
The team monitors real-time all the domains of the marketing websites to ensure their health status is maintained and protected. This interface is user friendly and allows the users to get valuable insights when and why websites may go down.
Another innovation was the creation of a script to combine CRM data of the warehouse platforms as a workaround since the way they are set up isn't entirely identical. This is critical to generate valuable reports such as the CEX fields sales report and the Field Sales Funnel report.
Last but not least, the team has created from scratch a report for the legal team also linked to ONB data to gather all the service agreement dates of existing clients in one place.
Credit Control
The team has created and delivered a professional induction on Bank Reconciliation files to minimise errors occurring by the use of multiple teams involved in the process such as A/P and Statutory Accounting Compliance.
This innovation has positive impact as it helps the effective parties increase their visibility and understanding of all banking transactions real time while also maintaining a universal language of items monitored in the Bank Rec files and streaming its operational workflow process.
Marketing Creative
The web development operation has installed a plug that stops cyberthreats such as spamming via contact forms in all websites. Protecting the brands, their intellectual property and trademarks has a significant impact and although it is a marketing activity, the risk is mitigated across the entire existing and new business development projects where all departments are involved in the strategic and operational side of things.
Banking
Both teams have created and delivered internal training tools for more efficient operations. The banking team has developed and delivered a Banking Training Manual that contains the main operational tasks of banking.
This internal training tool is a dynamic document that is always updated when is needed and is given to new banking team members to familiarise themselves with the internal procedures, workflows and department's interactions.
ONB
ONB delivered two amazing innovations. They created a new Induction version of the UK business that explains the way the business model operates and it has been presented to all employees.
In addition, a sales funnel report has been delivered in collaboration with BI and IT/App Development to satisfy reporting needs in both front end and back end teams.
Accounts & Payables
The A/P department has created an interactive educational material titled 'The Gist' incorporating all the teams' day-to-day activities. This presentation aims to improve the hard skills of existing members and educate the new comers on A/P teams' responsibilities.
This material encompasses a basic outlining of the procedures and important notes on critical daily tasks and included of course customer centric principles as a cultural compass. With this presentation, new people will have a greater picture of what to do and how do it more effectively, while also getting accustomed with challenging tasks faster.
Marketing Creative
The marketing team worked with EE in-house marketing coordinator to enhance the existing website with animated videos to boost the digital customer experience.
They team has also developed a new double-sided print advert promoting unique selling points of the brand to professionals in the UK. The outcome was that they produced a series of new printed materials, from roll-up banners to brochures, for GP platform due to their repositioning. This makes a significant impact in the front end!
Business Intelligence
The team has added a new feature in their new reporting software interface, in which the user can add a new commission for each new client form. This is directly saved in the back end database and reports can be extracted right away through the Dashboard. This innovation will help ONB team to have a better flexibility on the commission schemes while also this data can be linked to the Invoicing reporting.
In addition, BI has created a new report for the New Business Development team to forecast monthly growth vs actual financial performance of every platform
Customer Experience & IT/App Development
CEX has collaborated with IT/App Development team and delivered an internal ONB tool to host all the company's inductions (HR, Product, CEX, IMC, Protocols and Customer Journeys) in one place to facilitate the ONB journey of new hires while also rate the overall induction experience through a 45 sec feedback survey.
This innovation helps all the new comers align better with new info while inducer departments can improve their induction material and make it easier for new people to absorb.
IT/App Development
The team has started inducing all the organisation on how to use Nuclino software, where all protocols, policies and procedures are hosted and easily viewed and managed in one place. All the week was very busy with inductions with all the units in collaboration with the Assurance team members.
In addition, the team has built a Protocols report with BI, so that the senior management can have a better overview of the organisation's status in terms of protocols development.
Bookkeeping
Statutory Compliance
Bookkeeping team has created a new protocol to establish the procedure of a new internal weekly reporting touchpoint in collaboration with the Business Intelligence team. This enhances the visibility of Management Information that is vital for the Executive Team to monitor and execute well-informed decisions.
Banking
The team has created an internal matrix with advanced statistics and dashboards to keep track of future and outstanding KYC documentation for the banks. This innovation saves significant time in banking operations while also offering convenience with respect to become this information available to anyone in the team.
Corporate Compliance
The team has delivered the Nominee & Director's Mapping File to keep track of their personal details and payment statuses to be fully compliant with their assignment duties and always on top for reporting purposes
Business Intelligence
The new Data Input Software has included the New Client Form (NCF) module with fields per client, platform, management company and gross payroll. NCF status (active/lost) is easier now to track.
In addition, the client view is enriched by additional information linked to the client only such as, introducers, pension experts, HR providers, benefits experts, app date , industries, company number, VAT, etc.
IT/App Development & Corporate Compliance (New Bus Dev)
As part of the Reports Creations team, IT/App Development has rolled out with BI the Acquisitions Report for the New Business Development. The report offers visibility to the senior management on the financial status of the acquired companies.
