The Lab’s Knowledge Base
The Lab has standardized and databased consulting intellectual property to increase our clients' process efficiency benefits and accelerate the delivery of our services.
The Lab's Intellectual Property Knowledge Base contains industry-specific assets.
We’ve successfully cataloged 30-years of real-life process improvement project IP, that has been turned into tools, templates and code, which we deploy to enable predictable and repeatable client engagements with faster ROI-rich outcomes.
Lean on The Lab’s Knowledge Base
Ideal for accelerating Automation and Ai in your field.
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KPIs -
Dashboards -
Automation -
Process -
Improvement
Key Performance Indicators
Without clearly defined KPIs, and up-to-the-minute data, executives often feel like they are “flying blind”. The Lab maintains over 3,000 standardized KPIs for all major industry practice areas. Get started with 25 “Super KPIs”.
These pinpoint where your organization is making money, measure its productivity, and show where it is leaking margin.
KPI Samples from The Lab's Knowledge Base
- New Accounts Opened per Platform Employee - The total number of new accounts opened over a certain period of time divided by the total number of platform banking employees (i.e., personal bankers, loan officers, etc. working in retail locations).
- ATM Deposits per Employee - The total number of ATM deposits processed over a certain period of time divided by the number of employees processing ATM deposits.
- Unit Cost: SWIFT Payment - The total cost of processing SWIFT payments divided by the total number of SWIFT payments processed over the same period of time.
- Bank Drafts per Employee - The total number of bank drafts processed over a certain period of time divided by the number of employees processing drafts.
- Bill Payments per Bill Payment Employee (All Bill Types) - The total number of bill payments processed over a certain period of time divided by the number of employees processing bill payments.
- Unit Cost: Wire Transfer - The total cost of performing wire transfers divided by the total number of wire transfers performed over a certain period.
- Mortgage Loans Closed per Closer - The number of mortgage loans closed over a certain period of time divided by the total number of mortgage loan closing employees.
- Number of Touchpoints: Commercial Loan Processing - The number of times that commercial loan officers or processor must request information or documentation from the borrower before the underwriting/credit operations function has all of the documentation required to approve or deny the loan.
- Cycle Time: Loan Disbursement - The average amount of time required to disburse a loan, from the time the loan disbursement request is received until when the loan has been disbursed.
- Policies and Certificates In-Force per Insurance Agent – The total number of active insurance policies and certificates (proof of insurance) managed by the insurance firm at a certain point in time, divided by the number of agents (captive and independent) selling the firm’s products.
- Unit Cost: New Business Application – The total cost of processing new business applications, excluding commissions and assigned risk-related expenses, divided by the total number of new business applications processed over a certain period of time.
- Application Wastage Rate – The number of insurance applications received that were not approved and did not pay the first month’s premium (i.e., incomplete or denied applications) divided by the total number of insurance applications received over a certain period of time, as a percentage.
- SLA Time to Underwriter – Number of calendar days within which the first underwriting review should occur as defined by the company’s service level agreement (SLA).
- Cost per Supplement – The total cost of insurance supplements (i.e., additional repair costs outside of initial estimate) divided by the number of supplements over the same period of time.
- Cost per Supplement – The total cost of insurance supplements (i.e., additional repair costs outside of initial estimate) divided by the number of supplements over the same period of time.
- Claims Backlog Aging – The sum of days that claims have been in the claims queue pending settlement divided by the total number of open claims at the same point in time Cycle Time:
- FNOL-to-Payment (Check in Hand) – The average number of calendar days elapsed from the time a policyholder first reports a loss until the policyholder receives payment from the company
- Cycle Time: Premium Receivable – The average number of days required to close a premium receivable item, from the time the premium receivable item is received until its closure.
- Carrying Cost of Inventory – The total expense required to warehouse and ship the inventory of a specific product or material over a certain period of time. Carrying cost of inventory includes warehouse labor, insurance, tax, storage, depreciation and shipping or freight expenses
- Revenue per Driver – The total revenue earned by the company divided by the average number of drivers employed by the company over the same period of time.
- Undamaged Supplier Shipment Rate – The total number of orders received from suppliers without any damage divided by the total number of supplier orders received over the same period of time, as a percentage.
- Return Processing Expense as a Percentage of Revenue – The expense incurred through the Returns Processing function divided by the total dollar amount of revenue generated by the company over the same period of time, as a percentage.
- Return Processing Expense as a Percentage of Revenue – The expense incurred through the Returns Processing function divided by the total dollar amount of revenue generated by the company over the same period of time, as a percentage.
- Management Levels: Manufacturing & Assembly – The total number of management levels, or layers, in the Manufacturing & Assembly function.
- "First Pass Yield (FPY) – The difference in units produced (output) by a manufacturing process over a certain period of time compared to the units that went into production (input) over the same period of time (i.e., input vs. output)."
- Schedule Variance – The number of tasks performed over a certain period of time that were either unplanned (i.e., not scheduled) or did not conform to the production schedule divided by the total number of tasks scheduled over the same period of time, as a percentage.
- Unit Cost: Order Fulfillment – The total cost of filling customer orders (including order processing, order picking/prep, and transportation; NOT including the cost of goods sold) divided by the total number of customer orders filled over the same period of time.
- Field Services Customer Satisfaction - The average score assigned to the company’s field operations team related to their level of satisfaction with the level of service provided by field operations, or services, representatives
- Percentage of Work Orders Resolved within SLA - The number of work orders that are resolved within the SLA defined in the customer’s contract divided by the total number of work orders resolved over a given period of time
- Lead-to-Close Rate - The number of qualified sales leads generated through all channels (digital, traditional and direct) that are converted into paying customers divided by the total number of sales leads generated over the same period of time, as a percentage.
- "Days Sales Outstanding (DSO) - The number of days, on average, required for a company to collect their outstanding accounts receivable balance (the amount of money owed by customers/clients). "
- Billing Transactions per Employee - The total number of accounts receivable, or billing, transactions processed divided by the number of Accounts Receivable/Billing employees working for the company over the same period of time.
- Mean Time to Resolve (Incidents) - The average amount of time (measured in hours) required to resolve an incident, measured from the time the incident is identified until it has been resolved.
- Percentage of Work Orders with Dependencies – The number of work orders that cannot begin until another work order (s) has been completed divided by the total number of work orders in the queue.
- Number of Equipment Installation Work Orders Opened – The total number of equipment installation work orders opened and assigned to by Field Operations team members during the measurement period
- Accounts Receivable Turnover – The total number of times per year that the company collects its average accounts receivable balance, or the amount collected from company customers over a certain period of time, divided by the average actual accounts receivable balance at the end of selected accounting period.
- AMI Meter Deployment Rate – The number of AMI (Advanced Metering Infrastructure) meters currently deployed as a percentage of total meters managed by the company at the same point in time.
- Percentage of Outage Time Related to Weather – The amount of outage time that was related to weather as a percentage of the total amount of unplanned outage time occurring during the measurement period.
- Utilities Operating and Maintenance Expense per Residential Customer – The total operating and maintenance-related expense incurred by the company divided by the number of residential customers served over the same period of time.
- Maintenance Personnel per 100 Miles of Distribution Line – The number of maintenance personnel working for the company divided by each 100 miles of distribution line managed by the company at the same point in time.
- Number of Job Cancellations – The total number of jobs that have been cancelled (due to materials delays, other construction obstacles, etc.) over a defined period of time.
- Average After-Call Work (ACW) Time – The average number of seconds required to perform any required after-call work after a single call is completed over a certain period of time.
- Bill Savings per Energy Efficiency Program Customer – The total dollar amount of customer energy savings achieved through participation in energy efficiency programs divided by the total number of customers enrolled in the energy efficiency program(s) over the same period of time.
- Number of Emergency Work Orders Opened – The total number of emergency work orders (all types) opened and assigned to Field Operations team members during the measurement period.
- Number of Meter Reads Performed – The total number of meter reads performed, or completed, by Field Operations team members during the measurement period.
- Change in Cost of Care (post-plan vs. pre-plan) – The dollar amount of care-related expense incurred over a certain period of time after transitioning to a documented, long-term care plan that was developed with the assistance of a case manager subtracted from the dollar amount of care-related expense incurred before the transition
- 30-Day Readmissions Rate – The number of patients who had a recent hospital stay and have to be readmitted into a hospital again within 30 days of their discharge divided by the number of hospital admissions over the same period of time, as a percentage.
- 30-Day Readmissions Rate – The number of patients who had a recent hospital stay and have to be readmitted into a hospital again within 30 days of their discharge divided by the number of hospital admissions over the same period of time, as a percentage.
- Vendor Invoice Error Rate – The number of invoices sent to the Accounts Payable (AP) Department by company vendors/suppliers that contain an error(s) divided by the total number of vendor invoices received by the AP Department over the same period of time, as a percentage.
- Average Charge per Discharge – Total adjusted patient charges (for all patients - from admission to discharge) divided by the total number of discharges over the same period of time
- 30-Day Mortality Rate – The number of actual inpatient deaths that occur from any cause within 30 days of hospital admission divided by the number of deaths expected to occur within 30 days of hospital admission over the same period of time, as a percentage.
- Number of Beds per Technology Support Employee – The total number of beds owned by a hospital or healthcare facility divided by the total number of technology support employees working for the facility
- Staffed Bed Occupancy Rate – The total number of days in which inpatient care is provided to patients in the healthcare facility divided by the number of days the facility is open for patient admission divided by the number of staffed beds
- Inpatient Expense per Discharge – The dollar amount of expense incurred through managing inpatients divided by the number of inpatients discharged over the same period of time
Advanced Analytics & Preconfigured Dashboards
Context is everything when measuring and evaluating performance. The Lab’s standardized dashboards establish context and reporting consistency. Start with simple, summary levels of widely available data, then zero in on the activities that drive productivity, marketing effectiveness, and margin improvement.
Publish these dashboards to mobile devices, automate data updates, and set alerts.
Digital Automation, AI Use Cases and Standardized Deployable Code
Today, you can automate what was previously “un-automatable” thanks to Robotic Process Automation and AI. But first you have to discover the use cases. The Lab has done this costly discovery for you.
Browse through our catalogs of standardized bots and system-specific automations detailing technologies connected, labor saved, and new capabilities enabled.
Business Process and Best Practice Future State Workflows
Mapping your organization’s current state business processes is overwhelming and time-consuming, especially without frameworks. The Lab has standardized the essential characteristics, to rapidly create accurate maps of your organization that generate maximum organization buy-in for improvement initiatives: the process name, the level of detail for activities, the rework, the automation use cases, and more.
And we’ve taken processes a step further.
It is challenging to map end-to-end existing processes. It is even harder to design a lean, future state, workflow. So, The Lab developed best practice future state workflows based on what the leading industry innovators have already implemented.
Coordinated with current state business process maps, these future state workflows define a series of best practices that can be implemented to dramatically accelerate your drive to automation and benefits.
Standardization improvements are the prerequisites for Automation, Analytics, and AI
Non-standard data results in reconciliation issues, costly workarounds, and causes businesses to purchase new “miracle” solutions.
Non-standard business processes generate “not-in-good-order"(NIGO) information, requiring avoidable corrections and rework that impedes automation.
The Lab maintains thousands of task-level standardization improvements with standard, repeatable implementation work plans that rapidly accelerate efficiency improvement.
The Lab's knowledge base contains standardization best practices that include—data intake, business rules, triage & assignment, and more—to reduce NIGO rework and prepare for automation.
Don't reinvent efficiency improvement when you can rapidly deploy it instead.
All of The Lab's Knowledge Base IP-Assets are interlinked and relational within unique industries and business areas.
Accelerate your business transformation by adopting best practices, KPIs, dashboards, automations, bots, and task-level improvements already used by leading organizations.