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Friday, February 1, 2013

SKS Micro implements six sigma initiative

SKS Microfinance is implementing a lean six sigma enterprise initiative. It started a few months ago. The aim of this initiative is to reduce costs, increase efficiencies and offer better services for customers, SKS CEO M.R. Rao said.

He said: “We had seven million customers (in Andhra Pradesh two million) two years ago. Now it is down to three million, post the Andhra Pradesh MFI crisis. Although our customer base has come down, the number of locations (villages), where we are delivering neighbourhood credit, has gone up in non-AP states. We want more efficiency.’’

Elaborating, he said, these initiatives would help his company officials to retrieve documents faster, save time besides offering staggered timings for field staff (sangam managers) to ensure uninterrupted use of computer at its branches.

Dilli Raj, CFO, SKS Microfinance, said that the company has turned around and now it has new priorities. He said: “Our new priorities are compliance-oriented growth, governance, risk management and audit rigour.’’

Source: thehindubusinessline


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