Workforce Analytics for the CFO

5 reasons CFOs are interested in workforce analytics & automation

  1. Identifying empty labor
    • On average US employees waste 2 hours a day beyond breaks and lunch hour.  However, most companies only have self-reporting methods to track the amount of work and time spent on various tasks.  WorkiQ provides real-time collection and reporting thus revealing instant performance measurement of both in-house and remote employees.   
  2. Identify areas for reduction of overtime
    • According to a recent survey, average Americans work an hour of overtime each week.  Sometimes the business may need overtime to get through peak periods but how do you truly know without accurate data?  WorkiQ provides real-time data showing if empty labor is a potential symptom for excess overtime.  The solution can identify the amount of time spent on productive and non-productive activities and categorize the type of work that consumes the most labor hours.
  3. Workforce analysis
    • Do you have the right amount of people assigned to the appropriate inventory of work?  How many people do you need to handle open enrollment this year?  Take the guessing out of staffing;  WorkiQ provides data on actual activity and work productivity, giving you true FTE analysis to insure you have the team for the workload.
  4. Real-time and accurate performance data
    • Identifying top performing teams and individuals is critical to building a culture of accountability and high employee engagement.  Real-time workforce analytics provides the operational intelligence necessary to evaluate true staffing needs, reduce outsourcing, and lower the overall costs of operations. By providing real-time dashboards with insights into the actual performance at any given moment your managers will be empowered to make “in the moment” coaching and guidance for optimal performance.
  5. Spotting process deficiencies
    • Organizations can’t always see the different steps it takes to process a transaction within their operations.  By employing analytics to visualize the work path, you can identify the critical details needed to reduce bottlenecks.  Then these processes can be eliminated or automated through OpenConnect robotic process automation.

Analytics for Insurance Summit

OpenConnect CEO Dr. Edward Peters to Discuss the Potential of Technology and Data Capture at the Analytics for Insurance Conference

Dr. Peters will be featured in a session at the Analytics for Insurance Conference titled “Understand how analytics is changing claims handling and underwriting”

Dallas, TX, March 20, 2015 – OpenConnect, a leader in operational intelligence and workforce analytics software, today announced that CEO Dr. Edward M.L. Peters will be a featured speaker and panelist at the Analytics for Insurance Conference on March 25-26 in Chicago. Dr. Peters will focus on how technology and analytics can make claims handling more efficient and transparent.

The claims handling process involves massive amounts of data, but unfortunately much of this data has historically not been able to be tracked and measured in a meaningful way. Emerging technologies and the use of analytics that are capable of tracking this data can enable a new age of innovation and improvement in the claims handling process.

This session will look at a number of key areas in which automated processes and analysis can improve the claims process – in detecting fraud, reducing costs and creating real-time and actionable data. Dr. Peters will focus on how to identify and utilize previously un-captured data in ways the industry has not seen before. The ability to capture this data creates valuable and actionable analysis that can lead to greater efficiencies.

“In the claims process, only a small portion of the data are readily available for analysis, with a large portion going un-captured and therefore unavailable to analytical efforts,” said Dr. Edward Peters, Chief Executive Officer, OpenConnect. “‘Dark Events’ are discrete actions that affect the state of claims and normally go un-captured and un-recorded by most claims processing and analysis systems.  It is through the discovery, capture and analysis of ‘Dark Events’ that major improvements can be uncovered and realized.”

The Analytics for Insurance Conference takes place March 25-26 at the Hilton Chicago/Magnificent Mile Suites in Chicago, IL. Dr. Peters will speak on March 25th from 4:30pm – 6:00pm.


Media Contact

Tracy Donalson
Weber Shandwick, for OpenConnect

Managers Dilemma: How Much Time Are Your Employees Productive?

Your associates are busy, but how much time do they spend in productive applications? Do you know what applications people utilize to get their work done? In this manager’s dilemma, I show you how to quickly customize a manager’s dashboard in WorkiQ Workforce Analytics to answer these questions, and point out the operational intelligence that all managers should know about how employees spend their time.

This dashboard displays:

  • The real-time percentage of work-hours spent in productive applications.
  • The amount of time each team member was idle, busy in “productive” applications, and busy in “non-productive” applications.
  • The amount of time each team member spent in specific applications or categories of work.
  • The amount of time each team member spent in social media, personal email, and other non-work activities.

Request WorkiQ Demo