Financial Segment – Banking

/Financial Segment – Banking
Financial Segment – Banking 2018-09-03T11:50:53+00:00

Project Description

Keeping Pace with Technology.

SYNOPSIS

The banking industry which was among the big job creators along with the information technology industry in the past two decades is at an inflection point where technology is enhancing efficiency by doing more and at a faster pace than what humans could do. However with the digitization and automation not being completely implemented we continue or tend to have more of concerns with related to volume of mail handling at the mail receiving and forwarding stations in the bank.

There is still a larger issue looming over the fact that there are delays in documentation, approval, tracking of these documents movements. There is a great tendency of being dependent on a personnel to manage the errand of activities or through manpower supply agents.

CHALLENGE

One of the major challenges that the Indian Banking companies face today is the delivery management of their internal as well as external documentation, physical paper movements for their internal intrinsic process.While on one end they have stringent customer commitments, they have legacy documentation dispatch and receiving process that impacts to uphold their service integrity. Though large amount of cost spend is assured still it does not guarantee and meets up their requirement as long as it is not focused or treated as an adhoc. out sourced service.

OUR SOLUTIONS

Avon’s Mail Management solutions plays a critical and productive role in managing the above challenges thereby ensuring the Banking company has an edge over their competitors by a seamless time bound mail delivery and distribution services within their main processing centres, between their branch offices as well with their customers.

The solutions addresses all the critical and challenging business situations as mentioned above and more by automating and bringing real-time visibility to the operations ensuring there is enough and more proof on productivities of cost and service levels.

CHALLENGES VS SOLUTIONS

Multi branch operations within the city & country
Avon deploys own resources at every locations

Quality of Manpower
The customer specific or tailored made solutions offering is further disseminated to the workgroups with vigorous training and the average age of mailoom employees at given client is equal to the tenure of the clients service contract.

Time taken to resolve queries or complaints
Mailmaster tool has the record of all mails transiting thru the mailroom and enables to resolve a query or complaint in the most minimum time imaginable .

Dependability on single source of dispatch or courier associates for national and regional movements
Avon’s multi vendor associations has given the edge to cater to the varying needs of the customer with the focus on the using each of the service providers strengths and no dependency on any one single service partner

Unreliable service associates get linked to the service business
For within the city or locations the service deliverable is done by Avon’s own resources with field base mobile application that gives complete visibility of the task progress, completion and the whereabouts of the field employee.

Authentication of courier bills due to several courier vendor bills
Avon’s model ensures the verification and validation every mail dispatches and its related costs. Avon’s ownership would be ensure the right selection of the service partner, managing the service levels as well as the point of reconciliation & scrutiny of bills with the Bank getting one consolidated invoice with a complete break up of spend validated, location-wise.

Solutions : Deployment

The above challenges are resolved vide a deployment of the working model for India’s two of the most leading Banking Companies with an average volume of 2000 mails distribution per day.

The solutions deployment has practically sewn our deliverables as an extended supportive arm of clients processes to manage every mail with a precision of end to end service visibility and reliability.

Avon’s Mail Management Solutions comprises of

  •  Reconciliation at every stage of operational activity
  • Visibility and transparency of all operational activities
  • One stop-shop for the insurer

Cost saves due to

  • Better utilization manpower resource costs
  • Least Turn around time for multiple activities managed by Avon
  • Time bound delivery and distribution services
  • Reduced Administrative time of the clients resources in managing the mailing activities giving them enough and more scope to manage the Banks core competencies.
  • Focus on reliability than dependency of service partners.

We have been able to offer most of our Banking clients 10-20% savings in their mail distribution and dispatch costs with increased process efficiency and transparency of transaction through all the stages from receipt to delivery of the mail , due to our superior solutions, industry expertise & best practice adaptation.

Avon mourns the sad and sudden
demise of our Founder Director,
Mr. K Krishna Kumar
(popularly known as KK)