Reimagining receivable solutions for a life sciences leader

The challenge

Rising costs, compliance concerns, and outdated processes

Speed, agility, and simplicity when it comes to collections. This life sciences company needed a better way to collect customer payments via its invoice-to-cash process.

The main challenges were:

• High-cost technology and complex, fragmented infrastructure
• Escalating security and compliance concerns
• A pressing need to update systems and processes with advanced technologies, such as artificial intelligence (AI), machine learning (ML), and predictive insights
• A lack of agility due to reliance on a third-party host to make changes

All these issues led to a poor customer experience, with callers often held in long queues. Plus, lengthy dispute resolutions led to low employee productivity and many past-due invoice payment.

The solution

Cloud-based collections powered by Amazon Connect

To help the company, Genpact began with a thorough assessment of its existing infrastructure and processes. We soon pinpointed the challenges and began to review possible solutions.

In partnership with the life sciences company, we selected Amazon Connect – an easy-to-use omnichannel cloud contact center – as the most appropriate and cost-effective solution. Its compatibility with the existing AWS cloud infrastructure and availability across geographies sealed the deal.

We also implemented Genpact's AI collection systems and Amazon QuickSight, a business intelligence reporting service. With these receivable solutions, employees would have access to real-time analytics dashboards to make more informed decisions. The solution built using DevOps practices, ensured a faster and more predictable deployment and flexibility to scale up according to business necessities.

The future-proof, cloud contact center now works across time zones and telecom providers in eight countries throughout Europe and the US. It features:

• An intuitive user experience supported by AI insights
• Pay-as-you-go licensing for easier scalability
• End-to-end process integration and negotiation with local telecom companies
• Enhanced security and reduced risk thanks to single sign-on authentication
• Support for IT teams to quickly modify the system to meet business needs

The impact

An intelligent, agile, and scalable contact center solution

The new solution has transformed the employee experience for the receivables team and significantly improved business scalability and agility. The company has also saved over $3 million in upfront costs across licensing, infrastructure, and local telecom providers. Plus, a 50% reduction in annual operational costs.

The work is ongoing, with the continued exploration of how real-time analytics powered by machine learning can support employee decision-making. There are also plans to enhance the contact centers to include:

• Intelligent chat capabilities, including translation across multiple languages
• Automatic customer checks and voice authentication to enhance security while accelerating low-risk transactions
• Best next action suggestions for employees based on chat or call transcripts

With continuous improvements planned across the collections process and contact centers, the company is accelerating its journey to cloud. It's now looking at how AWS can streamline operations in other areas of its business.