One of the World’s Leading Manufacturer of Farm Equipment and provides financial services to agriculture customers.
Some of their financial services include:
- Tractor Financing
- Harvester Financing
- Implement Financing
- Used Equipment Financing
The back office volume was growing cumbersome due to substantial number of agricultural customers. The client approached Sundaram Business Services to reduce and control the operating costs, improve company focus, gain access to world-class capabilities, free in-house resources for other purposes and streamline/increase efficiency for time-consuming functions.
The client also faced problems in transaction process like:
- Lack of tracking mechanism
- Unable to scale up during spike periods
- Unable to maintain Post Disbursement Checklist Quality
- A dedicated Account Manager and a team were deputed to handle the Financial Services
- The team consists of full-time employee for activities including banking, verifying registration certificates, tracking of various formal communication letters, tracking of files & resolution of queries pertaining to activities Consistently delivering over 98% quality files and banking services to clients
- Frequent monitoring through Time & Motion study for implementing techniques to improve productivity and quality within stipulated Turnaround
- Time Effective implementation of QMS & ISMS for client Data Security Standards
By outsourcing the financial process to Sundaram Business Services, the customer was able to:
- Access the status at the click of a button and could run reports
- Witness the turnaround time for processing reduced by 50%
- Concentrate on other activities, with the availability of more time, enable employees to focus on core business aspects, accessing skilled expertise, flexible staffing
- Increase operating efficiency and reducing overhead administrative costs eventually generating more profits
- Files Management – We have improved the overall function of a business workflow by organizing regular and vital files in a searchable database for quick retrieval.
- Numerous Loan Suraksha Policies in One PDF We have a comprehensive outline in place for existing policy records and its location in series for retrieval and retention.
- Jumbled PCN Hard Copy Our filing and classification systems fall into three main types - Alphabetical, Numeric & Alphanumeric, which helps us retrieve the documents and attach in physical files effectively and efficiently.
- Extra NACH 3Mandates We are following five necessary steps for filing - Conditioning, Releasing, Indexing, Coding & Sorting, which is a fool proof step for storing records over and above thousands.
- File Storage Our storage solution consists of determining how to retrieve the file on time whenever required. Proper carton & labelling system and strictly scheduled visit of vendors helps us to save floor space and money by storing files more compactly.