Case Study

With Genpact's solution, office equipment leasing major improves usage-based billing process and saves US$6.4 million

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Client:
Global finance company

Industry:
Banking and financial services

Business need addressed:
Low consumption data acquisitions, acquisitions through multiple channels resulting in sub-optimal yield and increase in number of estimates

Genpact solution:
Transformed the acquisition process, creating a proactive platform for customer redressals

Business impact:

  • Increased consumption, diagnostic and status data accuracy
  • Greater FTE effectiveness
  • Reduced cost of acquisitions

Business challenge

A major equipment leasing company faced inefficiencies in its billing process, resulting in the receipt of fewer inputs leading to higher estimates alongside sub-optimal yields. Genpact was engaged to optimize the consumption, diagnostic and status data acquisition process and specifically address the following:

  • Inaccurate consumption data acquisitions resulting in a greater number of estimations (approximately 26%)
  • Too many hand-offs and process gaps throughout the process
  • High degree of manual processing across all 9 channels
  • Increased turnaround-time (TAT) of more than 70 days because of large volumes of inbound customer complaints

Genpact optimized the consumption data acquisition process by creating a robust reporting mechanism using process and technology enhancements

  • Standardized the acquisition process and put in place best-in-class process and technology platform
  • Improved efficiency within channels by reducing manual processing
  • Created robust reporting mechanism by publishing regular dashboards to provide tracking and visibility on the inputs received and estimates

Business impact delivered

  • TAT for inquiries were reduced by approximately 40%
  • FTE read collections improved by 25%
  • $6.4 million benefits through the improvements in the acquisition process

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