Case Study 1: CUSITech's Time-Saving Transformation
Total time reclaimed: 3,055 hours per year
CUSITech was in a tough spot, with two accountants doing the work of three. The workload was relentless, and one of the accountants was particularly hard hit, spending over 60 hours each week just on creating, sending, and tracking invoices in QuickBooks Online and Salesforce. The burden was so heavy that she was on the verge of quitting, overwhelmed and exhausted.
Recognizing the urgent need for a solution, our team took a hands-on approach. We spent a few hours directly observing her process, asking detailed questions to ensure we fully understood her workflow. Armed with this knowledge, we set out to develop a custom app specifically designed to alleviate her burden.
In just two days, we introduced her to the new app. It was a game-changer. The app streamlined the entire invoicing process, automatically creating, sending, and syncing invoices with QuickBooks Online and Salesforce in a fraction of the time—reducing what used to take more than 60 hours a week to just 15 minutes per day.
Thanks to this innovative tool, the need for a third accountant disappeared. The remaining work was easily managed with the time saved, effectively giving back over 3,055 hours a year to the company. This intervention not only prevented the loss of a valuable team member but also transformed the efficiency of CUSITech’s accounting processes.
Case Study 2: Spectrum's Leap from Tears to Triumph
Total time reclaimed: 180 hours per year, with a huge reduction in anxiety
Spectrum Financial Alliance faced a challenge that made block (bulk) trading a daunting task for its team. The meticulous nature of the process, where even the slightest possibility of an error could lead to significant fines, layered on immense stress. This wasn’t just about avoiding mistakes; it was about the exhaustive measures taken to ensure absolute accuracy, often resulting in late nights drowned in anxiety.
Seeing the strain this process placed on the team, our Team Lead approached the problem with an innovative mindset. He recognized that at its core, the trading process could be distilled into an elaborate algorithm. His hypothesis was straightforward: if they could precisely define this algorithm, automating the entire trading process was within reach.
Working in tandem with the staff at Spectrum Financial Alliance, they embarked on creating a new block trading tool. This tool was envisioned as more than just software; it was a solution designed to navigate the complexities of trading with unparalleled precision. By simply selecting a stock, the tool automatically identified risks, trade tolerances, limits, cash requirements, and restrictions. Instantly, trade parameters were calculated, and an upload file was generated, simplifying a process that was once laboriously manual.
The transformation was profound. The trading and allocation process, previously stretching between 3-5 hours per trade, was now streamlined to a mere 10 minutes from inception to completion. The change didn’t just eliminate the fear of potential errors and the resultant fines; it eradicated the root cause of the stress and the late-night hours once thought inescapable.
In doing so, Spectrum Financial Alliance not only saved approximately 180 hours annually but also significantly diminished the anxiety that once overshadowed its trading operations. This story illustrates not just the power of automation but the importance of reimagining processes to alleviate stress and enhance efficiency in the workplace.
Case Study 3: Unleashing Efficiency in Financial Reporting
Total time reclaimed: 580 hours per year
In the realm of financial management, timing is everything. Quick access to information can significantly impact decision-making. Our client, deeply entrenched in this sector, faced a daily challenge that tested the limits of efficiency and productivity. Each morning, their team had to sift through mountains of valuable data—a process that consumed around three hours daily. With the stock market in the U.S. opening at 9:30 AM Eastern, this meant some employees had to arrive by the dark hour of 6:30 AM to ensure reports were prepared in time for the market’s opening. While this method was effective, it was far from efficient.
Recognizing the critical need for a streamlined process, our team dove into the depths of the data and the intricacies of the daily reports. Our goal was clear: to transform this tedious task through automation. After a thorough analysis, we developed a cutting-edge tool specifically designed to automate the analysis and generation of these crucial reports.
This innovative solution revolutionized the morning routine. Staff members now had the luxury of arriving at a more reasonable hour of 8:00 AM. With just a few clicks, they could initiate the report generation process, have ample time to grab a coffee, and return to find the reports ready and waiting. This wasn’t just an improvement; it was a complete overhaul of their morning workflow.
The impact of this automation extended far beyond the morning hours, saving approximately 580 hours annually. This significant time savings not only boosted productivity but also enhanced the overall well-being of the employees, who could now enjoy a more balanced start to their day. Our intervention demonstrated that with the right tools, data could be transformed from a cumbersome obstacle into a powerful asset, unlocking new levels of efficiency and effectiveness in the financial management industry.
Case Study 4: Revolutionizing Client Reporting with Sigma Squared
Total time reclaimed: 1,136 hours per year
Imagine a grueling annual project that devoured three months of the year, dedicated to crafting unique, custom reports for over 800 clients. This labor-intensive ordeal required employees to sacrifice two of their Saturdays for the mundane task of physically assembling 20-page presentation packages. Following this, another two to three weeks were devoted to painstaking data validation. Despite its inefficiency, this cumbersome process was the status quo—until Sigma Squared was called in for a consultation. Even a modest reduction to two months would have been celebrated as a victory.
Upon close examination, our team discovered a pattern within the chaos. Although each report was tailored to individual clients, the underlying process was uniform—a realization that pointed towards the possibility of automation. Energized by this insight, we embarked on a mission to redefine efficiency.
The result was nothing short of transformative. We developed an application capable of automating the entire process: gathering and validating data, dynamically adjusting report content based on relevance, and even managing the collation and printing of the final presentations. The once-protracted endeavor was now condensed into a single afternoon’s work.
Gone were the days of manual labor and lost weekends. The biggest concern now was ensuring the printer had enough ink. With a simple press of the “Start” button, employees could initiate the process and step back as the application worked its magic.
The implications of this innovation were staggering. By conservatively estimating the time saved—accounting for two employees over three months and an additional six employees over two Saturdays—the annual time savings approximated 1,136 hours. This revolution in process efficiency not only reclaimed time but also significantly alleviated the annual dread associated with this project, marking a monumental leap forward in operational effectiveness.
Case Study 5: Pricing Contract Perfection
Total time reclaimed: 8,277 hours per year
Navigating the complex terrain of pricing contracts, imagine a team of four analysts tasked with the Herculean effort of manually reviewing over 8,000 agreements annually. Each contract, rooted in one of three sectors and covering pricing for up to 300 products, constituted a full-time endeavor. The challenge was further compounded by legacy pricing models that often deviated significantly from current guidelines. This necessitated a meticulous line-by-line analysis to ensure pricing aligned with the latest standards, adjusting for tolerances and evaluating both the individual elements and the contract as a whole. The task was not just laborious but exceedingly monotonous.
Yet, in the digital age, what manual process cannot be reimagined through the lens of automation? Our Team Lead, embracing this philosophy, collaborated closely with the analysts to deconstruct and digitize their workflow. Through several iterations, a tool was born, capable of performing the analysts’ tasks with precision. But satisfaction didn’t settle there; a deeper exploration yielded a groundbreaking update—a fully automated system capable of daily contract reviews, adjustments, and document organization for analyst validation. This leap from manual to automated review transformed a once-daunting task.
Gone were the days of labor-intensive reviews stretching 1 to 1.5 hours per contract. The new paradigm allowed analysts to oversee the automated process, reducing their daily commitment to a mere 10 minutes. This shift wasn’t just about efficiency; it was a redefinition of the role of analysts, from processors to supervisors of high-level accuracy.
The impact was profound: a staggering annual time saving of 8,277 hours. This revolution in process management not only alleviated the burden on the analysts but also optimized operational efficiency, allowing for a reallocation of resources to more strategic tasks. Through the power of automation, what was once a bottleneck transformed into a streamlined, highly efficient process, emblematic of the potential for technology to redefine the landscape of labor-intensive industries.
Case Study 6: Empowering Sales at Abbott Nutrition
Total time reclaimed: 4,800 hours per year
The axiom that salespeople excel most when they’re face-to-face with clients, rather than tethered to their desks crafting PowerPoint presentations, is one Abbott Nutrition took to heart. Recognizing the invaluable nature of their sales team’s time, they sought a solution to liberate them from the time-consuming task of building client-specific sales decks. This is where our team came into play.
Collaborating closely with Abbott’s sales and marketing leadership, we embarked on developing a tool that would not only streamline but also personalize the process of creating sales presentations. The goal was to ensure that each salesperson had access to tailored, impactful presentations that resonated with their clients’ unique needs and preferences, without the painstaking effort of manually assembling them.
The solution we devised was both elegant and efficient. By automating the creation of these presentations, we were able to directly deposit them into each salesperson’s designated folder, ensuring they were equipped and ready for their client meetings without missing a beat. The results were immediately apparent.
Given that the sales team engaged in at least 200 in-person client visits each month, the efficiency gained through this automation translated into a substantial time saving of approximately 400 hours monthly. This wasn’t just a minor adjustment; it was a transformative change that allowed sales professionals to redirect their focus toward what they do best—connecting with clients and driving business forward.
So, when pondering the potential of an extra 400 hours a month, the question arises: What could your sales team achieve with such a significant amount of reclaimed time? For Abbott Nutrition, this equated to an annual windfall of 4,800 hours—time that could be invested in fostering relationships, understanding client needs, and ultimately, securing a competitive edge in the marketplace. This narrative is a testament to the power of technology in amplifying human capabilities, ensuring that sales teams can devote their energy to the interactions that matter most.
Case Study 7: Transforming Accounts Payable at Ohio State University
Total time reclaimed: 1,560 hours per year
Envision the life of an accounts payable accountant at a bustling university, buried under an avalanche of paper and PDF bills month after month. It’s a scenario that’s not hard to picture—a daily grind where the bulk of the day is consumed by scanning, labeling, saving, and meticulously entering bill information. This isn’t just a task; it’s a full-blown paperwork nightmare.
Our mission was clear: to awaken our accountant from this nightmare. The first step, as with all our projects, involved immersing ourselves in the world of accounts payable. We sat down with the accountant and the management team, diving deep into their processes and challenges. Our goal was to not just understand the task at hand but to feel the weight of it, ensuring any solution we crafted would truly make a difference.
Armed with insights and empathy, we set to work on developing a tool that would liberate our AP hero from the chains of manual data entry. Within a matter of days, we unveiled a tool that was nothing short of a game-changer. Capable of reading both scanned and PDF bills, this tool didn’t just recognize text; it understood context, accurately compiling the information into a CSV file ready for upload into the university’s accounting system. Moreover, it took care of labeling and filing each bill in the appropriate AP folder—a once manual, tedious task now flawlessly automated.
The transformation was profound. Gone were the endless, soul-crushing hours of scanning and labeling. Our accountant could now reclaim about 30 hours each week—time that could be redirected towards more strategic tasks, professional development, or simply enjoying a much-needed respite from the relentless pace of accounts payable.
In total, we gifted back 1,560 hours to the university’s accounts payable department annually. But more than just hours saved, we restored balance and sanity to an essential yet overwhelming part of their operations. This story isn’t just about technological innovation; it’s a testament to the profound impact of understanding and addressing the human side of financial management.