To Enhance Customer Satisfaction, Measuring and Monitoring the Lead-Time Management in Microfinance Institutions in Cameroon

Abstract

The microfinance industry (MFI) emerging from the banking sector is highly dependent on recent technology and customer service efficiency, which can drastically reduce lead times. Customers are also highly informed, and their demand expectations are high. Customers want instant solutions when it comes to financial or banking services. It is, therefore, essential for microfinance companies to effectively manage their lead times to achieve higher customer satisfaction. This study adopts the methodology of a hybrid approach consisting of a quantitative approach in examining the impact of lead time on customer satisfaction in microfinance industries in Cameroon. A sample size of 70 customers, primarily petty traders from about 25 microfinance institutions in Cameroon: The random sampling method was used to select the petty traders' sample size for the survey. The model specification was descriptive multiple linear regression, used to analyze the data, and the estimation technique was ordinary least square. The findings show a direct impact of lead time management on customer satisfaction in the MFI case of Cameroon, and recommendations were made.