Topics of interest for CFOs: WorkiQ by OpenConnect

WorkiQ for the CFO

Five reasons CFOs are interested in desktop analytics and automation.

  1. Identifying empty labor — The average U.S. employee wastes two hours a day beyond breaks and lunch hour. However, most companies have only self-reporting methods to track the amount of work and time spent on various tasks. WorkiQ® from OpenConnect provides real-time collection and reporting, thus revealing instant performance measurement of both in-house and remote employees.
  2. Identifying areas for reducing overtime — According to a recent survey, the average American works an hour of overtime each week. Sometimes, the business may need overtime to get through peak periods; but how do you, the CFO, truly know, without accurate data? WorkiQ provides real-time data showing whether empty labor is a potential symptom of excess overtime. It 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 guesswork 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. WorkiQ provides real-time dashboards with insights into the actual performance at any given minute, so your managers will be empowered to perform “in-the-moment” coaching and give 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’s AutoiQ process automation product.