Why has the average onboarding time for new clients using Tresata's Risk Analytics solution increased by 30% this quarter?

Introduction

The recent 30% increase in average onboarding time for new clients using Tresata's Risk Analytics solution is a critical issue that demands immediate attention. This unexpected shift could significantly impact client satisfaction, revenue, and our competitive position in the risk analytics market. I'll approach this problem systematically, focusing on identifying the root cause, validating hypotheses, and developing both short-term fixes and long-term strategic solutions.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might have been a recent product update. Has there been any significant change to the Risk Analytics solution in the past quarter?

Why it matters: Product changes often impact onboarding processes. Expected answer: Yes, a major update was released. Impact on approach: If yes, we'd focus on the update's features and potential issues.

• Considering user segments, I'm curious about the distribution of this increase. Is the 30% increase consistent across all client types, or are certain segments more affected?

Why it matters: Helps identify if the issue is universal or segment-specific. Expected answer: The increase varies across segments. Impact on approach: If varied, we'd prioritize investigating the most affected segments.

• Thinking about the onboarding process itself, has there been any change in how we measure or define "onboarding time" recently?

Why it matters: Ensures we're comparing apples to apples in our metrics. Expected answer: No changes in measurement. Impact on approach: If changed, we'd need to recalibrate our analysis based on the new definition.

• Considering external factors, have there been any significant changes in regulatory requirements for risk analytics in the past quarter?

Why it matters: Regulatory changes could necessitate longer onboarding processes. Expected answer: No major regulatory changes. Impact on approach: If yes, we'd need to factor in compliance-related delays.