Case Study: Money Mart Financial Services
Global Financial Services Provider Leverages Business Intelligence from ServiceChannel to Improve Processes and Reduce Repair & Maintenance Expenses
Money Mart Financial Services, formerly Dollar Financial Group, is a leading international non-bank provider of alternative financial services, serving primarily unbanked and under-banked consumers through its approximately 1,500 current retail storefront locations and its multiple Internet platforms in 10 countries across Europe and North America.
The company operates its global portfolio without any full-time dedicated facilities management staff. Using North America as the “pilot,” they were looking for a solution that addressed their three primary areas of concern and could be rolled out internationally:
U.S. retail operations are empowered to manage their stores. Corporate real estate provides maintenance advice and governance support to Operations.
LACK OF VISIBILITY
Across the company, there was no visibility into R&M spend. With a decentralized operating structure, there was no ability to analyze expense data in categories and understand where funds were being spent without manually processing boxes of paper invoices.
NO BUSINESS DATA INTELLIGENCE
They lacked visibility and insight surrounding facilities R&M. There was uncertainty on what data was available and what information should be – and could be- reported. The need to gather data from disparate sources and then analyze information across different platforms was an underlying problem. Beyond simple R&M line items, there was no tracking of relevant KPIs or benchmark comparisons.
DFC Global sought to replace their existing system with one that would be more cost effective, easy to use and offer a high degree of transparency. They focused on ensuring that they could:
- More efficiently leverage their resources
- Manage their workflows and financials
- Provide stores with tools to run operations more effectively, at an overall lower cost
- Combine their experience with analytics to make better decisions
- Gain real-time data visibility to optimize their portfolio performance
Most important, they needed a platform that fit their business model of not having a huge facilities department while not being a burden to their operators.
DFC Global had another system in place briefly but management realized they could bring greater value to the company with ServiceChannel’s SaaS-based solution and its Analytics business intelligence tool. They deployed:
- Work Order Manager to manage all work orders and capture key operating data
- Analytics & Custom Analytics to improve business intelligence capabilities
- Compliance Manager to credential and validate contractors more efficiently
“The deployment of ServiceChannel has been so successful, we are in the process of rolling out its use into the eight countries we currently operate in across Europe.”
Executives at DFC Global found value with ServiceChannel by gaining greater transparency and empowering the organization to operate most effectively. The platform’s robustness drives improved decision making across the range of maintenance activities, from routine preventive maintenance to scheduled items to emergency demand response. DFC Global managers and their real estate team gained newfound real-time visibility of work and cost activity. Now they can look at performance anomalies and drive best practice behaviors, whether it’s on work activity or contractor performance.
With 100% of activity now on ServiceChannel’s platform, there’s no longer a need to aggregate data from other financial platforms. And with ServiceChannel Analytics’ up-to-date, consolidated data, they can drill down and fully understand their program history and work order activity down to store levels. The multi-language capability in Compliance Manager made it easy for all decentralized staff, especially contractors, to benefit from the platform. DFC Global found this in-language support to be of tremendous value to them as they roll out their business globally.
By knowing what they’re spending money on, how it’s being spent, whether it’s emergency or preventive repairs, with which contractors they’re spending the most, among other insights, DFC Global has realized significant dollar cost savings:
- 85% reduction in FM administrative costs
- 27% reduction in direct expenses across R&M category
- 4% in transaction process savings
With the deployment of ServiceChannel, they now have better tools and better analytics at a lower cost, with ready access to all the information needed within the system without having to search for it. DFC Global can now easily review overall spend, spend by region and district, and can now compare and identify anomalies and do like comparisons (e.g. locations with similar climates). Most important, various groups across the company can now collaborate on making improvements, whether it’s reviewing contractor performance or analyzing a specific district within a region and identifying best practices to try to implement those actions across its organization.