-
40%
reduction in cost
-
100%
improvement in turnaround time for SLAs
-
100%
adherence to regulatory compliance and ICC rules
CLIENT CHALLENGES
- Capacity constraints in managing day to day volumes and unforeseen spikes
- Complexities in managing operational efficiency due to non-standardised operating procedures and manual processes with legacy systems
- Knowledge retention and cross training challenges resulted in additional cost and time
- Brain drain due to frequent attrition and scarcity of skilled workforce
OUR APPROACH
- Reviewed and analyzed the existing trade finance process maps to understand the gaps and associated risks in the process
- Deployed a pyramid-based offshore team of SMEs, based on the complexity of work, to design end-to-end process maps effectively
- Created standard operating procedures for various tasks and processes inline with internal policies and regulatory requirements.
- Team has been assigned with clear delegation of authority to handle various tasks for clear visibility and control over each transaction.
- Initiated support for import document checking for EMEA and APAC and then scaled up to the export document checking in a systematic approach
IMPACT DELIVERED
- 100% improvement in turnaround time, in line with new SLA, completing all transactions within the day, vs turnaround time of T+1 in the previous SLA
- 40% reduction in cost through standardization, improving efficiency and quality of the process
- 100% adherence to ICC rules and regulatory compliance
- Deployed skilled and certified workforce along with stringent quality control mechanism to manage operational risk at transaction level
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