How we solved this problem
Recalls & Disputes
We solved our client’s recalls and disputes problem through a smart process management and workflow optimisation solution. The recalls and disputes system serves as a tracking system for requests to the ESO team. The system uses barcoded forms to automate the capture of requests on the system, after which the system manages the process for completing the request. The system automates billing for client requests and generates invoices due to other bank requests.
The system has reduced the risks from accurate tracking of requests and historic request logs and resulted in enhanced accountability from audit trails. Automatic escalations ensure that requests are processed within the service level agreement timeframes. Reporting services assist management in assessing efficiency and find bottlenecks in the process.
Production Workflow Solution
We solved our client’s production workflow problem through an effective workflow optimisation and process management solution. Due to numerous non-standard processes, our client had reached a limit in terms of processing capability (about 1500 pm).
Digiata was called upon to analyse the existing processes and redesign them by eliminating redundant steps, thereby making them more efficient. Processes clearly needed to be standardised, which would allow the business to shift resources to different types of processes, depending on where priorities lay.
We achieved this by seamlessly integrating manual and automated steps, resulting in logical and efficient processing. Business process rules are now enforced within the processes, not by the user.
Fairway’s priority rules editor allows priorities to be configured based on work item properties (such as process type, state or date created). These rules ensure that the next most important item is processed first.
We integrated our workflow tool with our correspondence engine, simultaneously improving quality through the automation of the business’ correspondence generation, and greatly reducing manual intervention and user errors.
Customised reporting allows managers to evaluate employees based on productivity and utilisation and also allows for the monitoring and management of bottlenecks.
Since implementing our workflow solution, the business’ processing volumes have more than tripled, while maintaining a 99.9% SLA rate without having to increase the workforce.
By standardising and simplifying processes, users have gained and retained business knowledge more effectively. The workflow solution shelf-life is also extended, since Fairway allows for rapid changes while minimising impact and risks.
We solved our client’s incoming and outgoing correspondence problem through a progressive workflow optimisation and process management solution. This implementation mainly attends to the processing of incoming and outgoing correspondence between the client and its members.
The outgoing correspondence revolves around the sending out of letters generated by Digiata’s forms application to relevant members or groups, as well as occasional pre-populated forms for completion, that are created with a product of the Teleform suite.
The incoming part of the application involves capturing scanned documents to a document warehouse, powered by Digiata, called ImageStore. Items identified as filled-in Teleform documents are sent through a process called optical character recognition (OCR), where form details are read and verified. The extracted data elements are then transferred to the company’s external system for further processing.
The automated implementation has saved time, as various components can function on their own, and money – by producing letters and providing the functionality to print on-site instead of sending them to a third party for printing.
We solved our client’s customer query and complaints problem through a progressive workflow optimisation and process management solution. Query Logger is an application created to capture and address queries and complaints from members of our client. These queries have been received via phone, email or HelloPeter.com, and their details are logged on a Stadium screen and passed on to the representative or manager of the fund to which the member belongs.
The issue receives attention within a reasonable period of time and the item is closed after the relevant actions have been taken to address it.
Having this application provides a number of advantages, like keeping track of issues raised by members to determine the efficiency of departments. It also keeps people updated on the progress of item processing via emails and text messages.
We solved our client’s workflow optimisation and process management problem through a progressive IT solution. In the past, the client worked from a paper-based solution, which proved wholly inadequate, as the company expanded and the need for an automated system became apparent.
The Mission Control application is now used by all our client’s employees for the booking of system development and hardware-related requests via Stadium screens. Items are approved and allocated to developers for attention, (after the work has been performed) they are then sent back to users for testing. The items are signed off once they are satisfied that the request has been adequately attended to.
Besides moving the implementation into the digital domain, other benefits provided by Mission Control include a complete audit trail of actions performed, as well as email notifications sent out to all parties notifying them of status changes to a request.
We solved our client’s onboarding problem through an innovative workflow optimisation and process management solution. We made use of Nitro to solve the problem. Nitro was initially created to migrate clients from legacy systems to our client’s system. Since then, Nitro has been converted into a comprehensive onboarding tool that manages the onboarding process from the lead state of a client to fully operational on the client’s systems.
Nitro currently houses 11 products and caters for new clients, as well as maintenance of existing profiles. Nitro also interfaces with various external systems and protocols.
The entire onboarding process is managed by means of workflow queues on Nitro, and each step is logged for a comprehensive audit trail. All notifications, alerts and escalations for the onboarding process are managed by the Nitro system.
The following steps are followed for an average client onboarding:
- Client information is collected utilising barcoded smart forms.
- The documents then undergo a rigorous vetting process facilitated by front-end screens.
- Information is captured on the external systems (like CAP) and the required references are updated on Nitro.
- Tokens and passwords are distributed to the client.
- The client profile is activated once the original documents are received.
- The client is trained in and familiarised with our clients systems.
Nitro allows for the maintenance of existing profiles, and for accurate tracking and MIS reporting. It has eliminated a lot of errors and mistakes normally encountered with manual processes, and gotten rid of any white space with dynamic smart forms.
We solved our client’s onboarding problem through a forward-thinking workflow optimisation and process management solution. We made use of iMali to solve the problem. iMali is a product management system for cash solutions. It manages the onboarding of clients, the pricing of services and devices, the billing of clients and it comprises an asset register to track all cash devices leased to clients.
The iMali system manages the onboarding of new clients for cash products, as well as the maintenance of existing client profiles. The entire onboarding process is managed by means of workflow queues on iMali, and each step is logged for a comprehensive audit trail. All notifications, alerts and escalations for the onboarding process are managed by the iMali system.
Pricing is automatically calculated by the system, based on configurable rules and options selected by the client. Exception pricing and authorisations are also managed and tracked by the system.
Client billing files are automatically generated by the system on a monthly basis. The release and authorisation of the billing files are also managed and tracked by the system.
The tracking of cash devices is of extreme importance. A complete asset register that records the asset detail, the condition of the device, the location and any client information is kept, to ensure that each device is accounted for. The asset register also allows for accurate MIS on the status of each cash device.
iMali has greatly sped up the onboarding process. It allows for the maintenance of existing profiles and for accurate tracking and MIS reporting of assets. It has eliminated a lot of errors and mistakes normally encountered with manual processes, and eliminated any white space with dynamic smart forms.
In terms of process management and workflow optimisation, Digiata is experience and capable of expressing a broad range of capabilities.
Contract Administration: Digiata has been integral in the management of complex contracts of financial instruments with relevant metadata.
Wealth Management and CRM: Digiata has overseen the management of high-nett worth individuals and communication/reporting distribution.
Workflow and BPM: Digiata has used workflow and BPM to manage business processes and the processing of items/task, by passing items between states and appropriate users.
Electronic trade Management: Digiata is accomplished in the ordering, execution and trade confirmation management within all markets.
SWIFT integration: Digiata is able to support many message formats including payments, FX, security, corporate actions and bank statement messages.