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Insurance Claims Processing Client

A Fortune 500 client identified a lucrative business opportunity and built an insurance claims processing business. The venture was a success and doubled its size every two years. With such fast-paced growth it began to experience declining profit margins on a per-transaction basis.

KORYAK's operations consulting group was engaged to find out why this was happening, develop plans to reverse that pattern and to implement the changes.

KORYAK experts worked side-by-side our client to find the root cause of the declining profit margins in their complex business. Intricate financial models were built to identify relationships between several variables. Business processes were modeled to identify choke points in workflows and organizational reviews were undertaken to realign the business with its expanding vision. As a result, over 20 different opportunities for improvement were identified and implemented with significant improvements to the client's profit margins.

The business benefits of this engagement included:

Bottom-line profit improvement equal to 10% of their annual revenue
40% improvement in call handle time for claims
Tools and knowledge transfer that will allow their own employees to manage the improvement in the future
Implementation of new CRM technology that provided an additional 15% capacity increase using the existing resources

Innovative Manufacturing & Engineering Client

A Fortune 100 client needed to implement a long-term strategy for controlling the maintenance and support costs for their Oracle ERP system. The complexity of the system and constantly changing business environment placed significant pressures on both human and financial resources within their organization. They found it difficult to keep up with the ever-increasing costs of recruiting the right individuals to support their environment.

KORYAK had been an integral part of their successful Oracle ERP implementation. Our knowledge of their system, the user community, and the dynamic organization structure within the organization made KORYAK an excellent candidate for outsourcing of the clients Oracle Applications support and development. Also, KORYAK was able to perform a detailed analysis of their environment up-front to establish an accurate and equitable fixed price for the support agreement.

The following business requirements were identified by this client

Reduce costs of supporting Oracle Applications.
Improve service levels for support requirements.
Provide flexibility in developing system enhancements required to meet dynamic business enviroment
Provide support for a global organization, with locations in the U.S., U.K., Switzerland and Mexico
Insure system availability 7 x 24 (except for required maintenance)

The following business benefits were recognized by engaging in an Outsourcing agreement with KORYAK:

Cost Savings – Client recognized $1M cost reduction in the first year of the contract, with an estimated $3.5M savings over the three-year term of the engagement.
Improved service levels - Almost 90% of non-development support issues were resolved on the same day.
Improved system performance - KORYAK insured that all new enhancements were tested thoroughly, to not disrupt performance and availability of the production system.
Increased "usability" of the system - KORYAK implemented several new features to improve client responsiveness and efficiency when dealing with customers and suppliers. Features such as EDI and Web Order Processing were implemented as part of the Outsourcing agreement.

KORYAK Consulting, Inc.
2003 Kinvara Drive
Pittsburgh, PA 15237
1-866-4-KORYAK