Products
TriTek Solutions specializes in the delivery of customized ECM solutions, providing a wide array of applications and utilities in addition to its extensive portfolio of business services. TriTek offers a suite of foundation software products that incorporate common, universal functionality. This allows focused implementation efforts specific to each customer's needs, significantly reducing the time and cost of implementing customized solutions.
Investor Services BPM Template
Reduce transaction costs and increase operational efficiencies by streamlining the investor servicing account management process.
Business Challenges
Servicing investors can be costly. Often, lagging or incomplete information and inefficient back-office processes hinder customer service. Brokerage operations are too often overrun and under-equipped to manage the complex and voluminous transactions and queries demanded by the agents, businesses, and customers. Further, back-office processors often lack ready access to relevant data buried deeply in their enterprise legacy applications. Compounding the challenge, transactions include a high volume of exceptions, further lengthening the time before processors can effectively respond to agent and customer queries. Traditional systems and processes allow little control over service requests to support high-quality customer service.
Manual, paper-driven processes prolong even simple requests and breed inconsistency across different types of transactions. In this environment, operations are compromised by extended transaction cycles, lack of real-time intelligence, and lost service requests. In the hands of servicing staff with varying levels of skill and expertise, the shortcomings of such labor-intensive processes stand out even more.
Operations managers also lack administrative control over forms, documents, and other physical content to determine if performance objectives are being met. On the front line, customer service representatives cannot immediately respond to customer inquiries, resulting in a tremendous amount of time-consuming follow-up. Not surprisingly, customer satisfaction suffers.
The Solution
TriTek developed the Investor Services template to enable retail and institutional servicing operations managers to fulfill customer requests free of the manually-driven process management challenges they have traditionally faced.
Built on leading Enterprise Content Management (ECM) and Business Process Management (BPM) technology, the Investor Services template delivers powerful results based on the process, content, and connectivity framework that these ECM and BPM platforms provide. With our Investor Services template, managers can streamline their account management processes and realize tangible benefits.
The Investor Services template allows managers to reduce transaction costs, eliminate processing bottlenecks, increase operating efficiencies, and improve customer service. In doing so, the industry template accommodates the investor servicing operation's core requirements.
Using a queue-based framework, this solution organizes incoming requests by transaction type and provides a customized processing interface for each. Traditional transaction types accommodated by the system include enrollments, deposits, redemptions, account maintenance, allocation adjustments, transfers, and customer correspondence, among others.
Integrating with legacy systems, the Investor Services template gives back-office users new power to access and collect transaction-relevant content without compromising their ability to work in a legacy environment. Our solution has successfully integrated some of the industry's most popular trading, processing, and record-keeping systems, including SunGard, FISERV, and Summit.
Besides access to content, the Investor Services template provides managers with significant administrative control and performance metrics. With its user maintenance utility, managers can specify the processing permissions for any user, and control access and content to any system queue. By doing so, they can designate work based on criteria of their choosing, including work volumes, user skills, transaction priorities, and more.
Since our solution manages every step in the process, its reporting database captures virtually every action. This reporting database allows easy access to any combination of information as well as to preset or customizable reports. Managers can create reports using an adopted business intelligence tool (such as Crystal Reports, Cognos or SAS), an Excel spreadsheet, or even a web-based dashboard.
Value Proposition
Built on leading ECM and BPM technology, the Investor Services template allows managers to reduce costs, improve service levels, and gain greater control over their processing environment. This solution can increase accuracy by up to 80%, decrease the time required to resolve exceptions by up to 60%, and allow organizations to respond immediately to customer service inquiries, resulting in significantly enhanced customer satisfaction.
The Investor Services template enables the delivery and processing of investor servicing requests in an environment designed around the rules and requirements of each individual operation. By distributing work in a structured manner, integrating with legacy systems, and efficiently managing exceptions, the solution dramatically shortens the processing cycle, yielding an estimated 67% increase in productivity and delivering cost reductions to match. In addition, the industry template's real-time audit logging and performance metrics empower managers to monitor service teams, make ad hoc adjustments, and deliver superior service.
For more information
To find out how our Industry Templates can speed up your BPM solution implementation, contact us at products@triteksol.com