Practus delivered 5X ROI to an Adhesive Manufacturer via Performance Improvement Services

Stickwell is 60 years old Indian adhesives, industrial chemicals, and building chemicals’ MNC with manufacturing setups in 10 countries, a presence in 70+ countries, offering consumer and industrial products.

Practus’ Role

• Reducing errors and claim settlement from their existing 50 days as it was a manual process.
• To identify and implement process improvement and automation opportunities for reduced manual intervention.
• In the commercial finance division, all policy terms and conditions were followed to the T.
• Act as the data custodian and enable easy and real-time data access for analysis.

Impact Delivered 

• An automated claim settlement portal was created with end-to-end TAT visibility.
• Y-o-Y improvement was seen on the following parameters:

1. The customer query resolutions increased to 93% from 51%.
2. The automated claim settlement share increased to 81% from 40%.
3. The percentage of employees following the stock loss policy increased to 83% from 58%.
4. Despite a 50% increase in the number of schemes, the claim settlement reduced to 12 working days from 37.
5. No-claim confirmation policy increased to 82% from 71%.
6. Other claim settlements, such as returns, disposal, samples, and rate discrepancies reduced to 12 working days from 34.

Practus has delivered Performance Improvement Services to clients across the board. Learn more about them here:

1. Performance Improvement for a Middle-Eastern Chain of Hypermarkets

2. Automation Project for a Media and Communications Company 

#PerformanceImprovement #Manfacturing #Performance #Improvement