Financial/Service Industry

iStock_000002042350MediumIn a world so affected by constant change and so vulnerable to the interface of human, software and hardware issues that can cascade into a management nightmare in seconds, some financial giants have elected to deploy the advanced capabilities of REASON integrated root cause analysis, corrective action tracking and lessons learned as a hedge against future operations problems.

The financial community at large finds itself increasingly vulnerable to both automated transaction issues, compliance issues and market change issues. Problem management in the financial field has become a designed, coordinated and aggressive activity requiring fast answers, a view of the systemic sources of problems, a view of developing trends for planning and solid decision support, and access to lessons learned data in order to benefit from the knowledge gained from past problems. REASON is the ideal problem solving concept and tool for the financial community because the foundation of capabilities is exact, verifiable and validated data.

In the financial world, you will not hear talk about approximate interest rates and terms, or estimated balances and due dates, nor will you find a tolerance for investments in guesses and assumptions. REASON problem solving is structured by logic rules and supported by criteria for accuracy and completeness. The repeatable process and objective answers of the REASON System replaces the inherent weaknesses of subjective approaches that permit and rely upon personal opinion, brainstorming, debating and voting for answers. With REASON there are no trial balloon remedies in an environment that cannot afford “wait-and-see” solutions.

Service industries set apart from manufacturing and process industries have special issues that often center upon personnel conveying and maintaining necessary services upon which other companies depend. This vital linkage can represent critical loss potential for both the service organization and its client. There are several significant issues with which any root cause analysis approach must deal in such relationships.

Perhaps in this field, the most important is the need for the problem solving method to deal objectively with the human behavioral aspect of the problem and in the same context as the elements of equipment, materials, processes and environment. Typically, however, when human performance enters the picture, it is common for subjective problem solving approaches to move strongly toward subjective assumptions and contrived remedies. Here REASON demonstrates one of its most powerful capabilities, the ability to understand the core issues affecting an individual’s performance and behavior on the job, and to manage those factors for prevention and control.