ITI Asset Management recently integrated their customer and mutual fund data with Talisma's E-mail Management System. This data integration aimed to streamline operations and improve communication channels for better client service, and improved the productivity of 50 agents. Previously, ITI didn't have any dedicated systems to track client communication, resulting in a lack of centralized information availability and causing delays in daily operations & customer communications.
Talisma's E-mail services have brought two main benefits. Firstly, the customer success team delivers personalized services to customers, by accessing comprehensive client profiles and tailoring responses accordingly. Secondly, the branch operations team experiences improved efficiency in addressing client enquiries, resolving issues, and coordinating with internal departments. The integration revolutionized ITI's operations and client interactions, resulting in enhanced satisfaction and operational efficiency.
The Challenges
Lack of a centralized data repository:
- ITI faced operational challenges due to the lack of a centralized system to maintain customer and fund related data.
- The absence of a system to store customer data and access customer interactions led to several delays in customer interaction.
- Monitoring the performance of various teams and branches located in different places was challenging due to the lack of a centralized data repository for customer and branch operations data.
Difficult to access customer data:
- Customer Service Agents and Branch office staff had to shuffle between excel sheets and mail even for simple mail communication.
- Data was maintained in silos, making it difficult to track latest information on customer interactions and mutual fund data.
Data Accuracy issues:
- There were data accuracy issues, due to the chance of data being deleted by mistake and data not being saved properly. Also, there was a risk of data manipulation.
SLA non-compliance & escalation issues:
- ITI lacked a proper mechanism to ensure SLA compliance, and there was no system for tracking resolved queries, leaving agents unable to reply to customers on time.
- The company lacked an automated escalation management system based on severity levels, making it difficult to prioritize and resolve issues in a timely manner.
The Solutions
Automated routing & escalation management:
- Intelligent routing rules automatically route cases to relevant teams based on the amount of time a customer query hasn't been responded to.
- Well-defined escalation and SLA management protocols have been put in place.
- Automatic trigger-based e-mail alerts and notifications sent to leads and supervisors in case of any escalation or delay in providing resolutions.
Easy tracking of customer data:
- Easy to track system for customer interactions and mutual fund data, branch wise.
- Pre-defined repository of frequently used responses available for faster query resolution.
Drastic improvement in TAT:
- Talisma analytics were used to draw out reports measuring key metrics such as TAT (turnaround time), AHT (average handling time), TAT compliance, agent productivity, case status, and volume across teams.
- Easier Quick and easy access to customer and fund data helped faster interactions with customers. It resulted in reduction of initial response time and eliminated the need to send acknowledgement mails manually. All this resulted in in 60 – 70% improvement in TAT.