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How Real Soft made delinquency handling more efficient
Delinquent clients are a drag for the banking and credit card industry. The payment collector is crucial for asset recovery.
Statistics reveal that more than 40% of the calls made by a human collection agent are to phones that are engaged or to answering machines!
A banking client with a similar predicament, relied on Real Soft to develop a solution for delinquent handling.
The key objectives for the solution were:
* Automatic dialing from a set of delinquent accounts
* Getting additional information if the need arose
* Updating the local database with appropriate result of the call
* Uploading the collection activity on a daily basis to the Mainframe host
* Providing 3270 access in case collection needs to be performed directly on the Mainframe
* Providing reports about the collection activity performed
* Providing an interface to capture the business rules in selecting delinquent accounts for future use
The project was implemented on IBM/SUN platforms, and made compatible with major operating systems and databases.
The user interface, built with backend mainframe database servers, telephone sub-system and Novell NetWare system offered seamless navigation for fetching and updating data.
Bottomline: Behavior of accounts was tracked and analyzed with the aid of the generated reports, leading to drastic reduction in delinquency.
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Real Soft, Inc. is a US-based global software solutions company with an impressive track record of providing value-added services to Fortune 500 companies.
It follows an unique collaborative approach in mapping technology & innovation to challenging business environments to offer services, as:
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 Application Software Development
24/7 Application Maintenance Support
System Re-engineering
Product Development
Porting / Migration of Legacy Systems
Business Process Outsourcing
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Topic of next issue
IVR Solutions
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Welcome to the first issue of The Real Times, our guide to help you arrive at informed outsourcing decisions. Two factors prompted us to initiate this medium: one, increasing technology complexity makes maintaining best-of-breed IT functionality almost impossible with in-house talent. Two, the challenging business environment is extracting more and more of expensive senior management time.
Though the value of outsourcing is a foregone conclusion, there are still grey areas that need higher clarity.
In this context, we talk of how outsourcing evolved, and the importance of a governance agreement in a contract. We hope the mix of articles will help you get a better perspective of the outsourcing scenario. We look forward to your feedback.
Happy reading . Regards Edit Team, Real Soft, Inc.
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The Evolution of Outsourcing
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The synopses below (from a detailed article by Michael J. McDermott of Chief Executive magazine), explains how outsourcing is evolving into a strategic tool for change, and how it is helping enterprises to leverage strategic relationships to enhance their own capabilities.
Reading the pattern
Traditionally, the outsourcing market focused on infrastructure, data operations and cost takeout as primary drivers.
While reducing cost of operations, enterprises are now wishing to outsource business areas to achieve greater flexibility and to gain greater ability to respond nimbly, in light of the changing corporate environment driven by M&A activity.
Perceptible shift has been to intellect-based service activities, such as research, product development, logistics, human relations, accounting, legal work, and marketing and market research.
Market has been shifting gradually from a cost focus to a business focus, and a new emphasis on access and speed to market has emerged.
Companies are partnering with outsourcers not just to reengineer support processes but to dramatically improve business capabilities that are critical to their success. Outside partners taking over entire business processes - not core competencies, but important competencies.
Outsourcing companies invest on critical resources like people, education and software, which companies havent been able to.
Perhaps, Dr. James Brian Quinn (Professor at Dartmouth College's Amos Tuck School and author of Innovation Explosion: Using Intellect and Software to Revolutionize Growth Strategies) has the final word. He says that if an enterprise does not excel in an area, and yet continues to do it in-house, it gives up an important competitive edge.
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Governance agreement in an Outsourcing contract
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A successful outsourcing arrangement requires seamless interaction at appropriate levels through the life-cycle of the project. A governance agreement is the crucial component to ensure smooth process and to avoid conflicts. Here are key points of the strategic attitude required:
1. Empowerment and Escalation
- Empower a joint relationship manager to take decisions
- Avoid unnecessary escalation of problems
- Resolve problems at the lowest level of management possible
2. Peer Relationships
- Encourage peer-to-peer relationships
- Conduct team building sessions
- Use an informal approach to strengthen relations
3. Frequent Informal Communication
- Promote frequent informal communication
- Conduct group dynamic oriented activities
- Make the client feel the service provider employees as part of their team
4. Establish a Special Entity
- Establish an inter-firm body of senior level managers
- Conduct sessions of the body on a periodic basis
- Use this body for review and course correction
5. Prioritize Action Teams
- Establish a protocol for the various activities involved in the process
- Ensure adherence to the protocol
6. Key Strategic issues
- Review effectiveness and strategic impact of the relationship on a periodic basis
- Study new developments in the industry front, jointly
- Check for errant deviation from the path to the original goals
7. Meeting Logistics
- Prepare detailed logistical plan for conducting inter-organization meetings
- Take geographic, financial, and strategic interests of participants into account while scheduling the meetings
8. Selection of Account Managers
- Involve client executives in the selection of executives in the service provider organization, especially, the ones working onsite
9. Corporate Media Communication
- Bulletins, Newsletters, and Websites are found to be effective tools in educating and informing employees
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What not to do in Outsourcing bidding: The P&G lessons
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Competitive sourcing of services throws up important business, ethical and legal issues all time. When ACS and TDS, two Texas based service providers started bidding for the $8 billion P&G outsourcing contract, various factors led to what seemed to be a one-to-one bout.
Unlikely as it appears, the stalemate forced a perplexed P&G to start the search for a outsourcing partner anew. Full perspective | from Outsourcing Law
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Future Focus
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Outsourcing Wave in the Brokerage industry:
A process becomes a prime candidate for outsourcing the minute it becomes a commodity. With outsourcing, costs go down as volumes decrease. | from Securities Industry News/Nasscom
If the outsourcing relationship is on the rocks:
An 8-step method to manage the split. | from CIO
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2003 Real Soft, Inc.
If you do not wish to receive this ezine, or you have received this message in error, simply send a reply to this email with Unsubscribe in the subject line. Readers may note that contents are filtered from third party sources. All Brand Names & Trademarks are acknowledged.
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