Insights2018-07-02T12:05:46+05:30

The Future of CEM: Will new-gen tech replace the Human Workforce?

Tailoring customer experience to influence conversion has been a quest for every organization. Businesses or sellers of products may have come a long way from the days of the barter system, but one thing remains constant: the one that gives their customers the best experience always wins. No wonder companies [...]

Tackling Mortgage Delinquency: 6 Key Pillars Mortgage Service Providers must strengthen

For a mortgage service provider, having a mountain of current accounts with zero delinquency is nothing less than Utopia. However, if there ever was a way to achieve it, the road to this ideal state, has now been blocked by the pandemic. “Delinquencies on U.S. home loans surged by 1.6 [...]

Vaccinate Your Company: Protecting an organization from unexpected crises

The COVID-19 pandemic will go down in history as one of the most influential events that shaped the coming century. However, it is not the first time the world has faced a financial crisis or a pandemic, and it will not be the last. In the past, the world has [...]

Safeguard Loan Assets & Stay Compliant With Robust Default Servicing

Ensuring the currentness of all accounts is the ultimate goal of a mortgage service provider. It not only helps avoid the “Delinquency Trap” and costly legal procedures, but also lengthy procedures. However, with a mammoth-sized shift in mortgage processes, how can you ensure gains? This paper discusses the 6 pillars (segregated by complexity) in Assets Management. It also describes the various ways Allsec's team ensures they stay strong, enabling you to stay current and strong.

June 15th, 2020|Categories: Case Studies|Tags: , , , |

Prepping for the Work-from-Home Endgame

Months after working remotely has become the new-normal, the time has come to suit up and assemble at our offices. It’s the WFH Endgame. However, amidst the initial excitement, making the return to work seamless will be challenging. Companies in China, Italy, and the United States that faced the brunt [...]

June 1st, 2020|Categories: HR Outsourcing Solutions|Tags: , , |

Revving-Up Productivity: American auto-parts maker achieves 97% SLA & 1 day TAT

Revving-Up Productivity: American auto-parts maker achieves 97% SLA & 1 day TAT With offices in multiple countries, this multinational automaker faced challenges in both Accounts Payable and Accounts Receivable like invoice processing and collection from foreign markets. Discover how they were able to overcome these hurdles and grow to new [...]

Allsec CEO’s Townhall Address

Allsec CEO’s Townhall Address Allsec hosted its first ever Virtual Town Hall on 30th April 2020, where topics ranged from the various challenges brought about by the unprecedented global pandemic, to the collective achievements of the entire workforce. While providing a detailed understanding of Allsec's Work-From-Home journey, the management also [...]

May 8th, 2020|Categories: Uncategorized|Tags: , |

Benefits of an Agile Process Management During a Catastrophe

Benefits of an Agile Process Management During a Catastrophe When the initial cases of the novel coronavirus were reported in China at the end of 2019, no one could have imagined the scale at which this avalanche would roll across the world. Four months in, the COVID-19 pandemic has brought [...]

April 27th, 2020|Categories: Business Continuity Planning|Tags: , , , |

How to Hit the Customer Experience Homerun with First Call Resolution

How to Hit the Customer Experience Homerun with First Call Resolution Customer satisfaction is a sure shot to business success. Every leading entrepreneur worth his salt, from Jack Ma to Bill Gates, agrees. One of the key metrics to measure customer experience is the rate of first call resolution or [...]

April 23rd, 2020|Categories: Customer Experience Management|Tags: , , |

Importance of Payroll During Exigent Circumstances

Importance of Payroll During Exigent Circumstances Sometimes, no amount of planning can prepare you for handling an unforeseen circumstance as disruptive as a global pandemic. The Covid-19 outbreak has avalanched its way into the business world, leaving not a single industry or company untouched. Wherever possible, work has gone remote. [...]

April 7th, 2020|Categories: HR Outsourcing Solutions|Tags: , , |

Our Formula for Impactful Debt Collection

Our Formula for Impactful Debt Collection In trying times, when the entire world is reeling under the impact of a pandemic and resultant financial stress, unpaid dues can become doubly worrying as the possibility of default increases. However, these are the precise moments when certainty of recovery becomes essential to [...]

April 6th, 2020|Categories: Collections|Tags: , , |

Success Story: Redesigned Customer Experiences for Retail Forex Trading Company

Success Story: Redesigned Customer Experiences for Retail Forex Trading Company Allsec has implemented a robust approach to compliance for this client with operations in 6 different countries. Through a combination of knowledge building, analytics-driven decision making, and process improvements, we have delivered a significant reduction in operating costs (~73% of [...]

Giving Your Global Workforce A Unique Experience

Payroll Essentials of a Truly Global Work Experience When it comes to business and professional opportunities, geographical barriers are steadily dissolving. According to a 2019 KPMG GAPP Report, 60% of participants surveyed stated that international assignments are an important part of their talent management strategies. This creates new requirements in [...]

Combating the Strategic Risks of E-Commerce Fraud

As the world has become increasingly digital, and the ease of e-commerce’s click-and-deliver model has transformed consumer behaviour, online fraud has also seen a spike in lockstep. E-commerce frauds have been increasing steadily every year since 1993, according to reports from Nilson, and fraudsters are only getting more sophisticated [...]

March 9th, 2020|Categories: Collections|Tags: , , |

Zooming into the Essentials of Leave Management

Imagine this: a company has a new manager for a team, comprised of five employees, dealing with an important client. In the last leg of the assignment, one team member is due to go on paternity leave. Simultaneously, another member puts in their request for their yearly mandatory vacation. The [...]

How a rapidly growing fast food chain in India tackles Payroll & HRMS

How a rapidly growing fast food chain in India tackles Payroll & HRMSFast food has gained a significant following in India. With the segment growing at a rate of 18% CAGR, it has also led to the rise of ‘fast employment’. Due to varying pay structures, geographic distances, and high [...]

February 12th, 2020|Categories: Case Studies|Tags: , , , |

The Two Prongs of a Sound Debt Collection Strategy

No matter what the nature of business, if it involves extending a line of credit, then bad debt is an outcome one must be prepared for. A study from Atradius in 2016 about payment practices revealed that 48% of customers delay payments. Although delayed payments can hold up business, it [...]

How Payroll Can be a Time and Cost Saving Function

Whether an organization is small or large, processing payroll is one of the most important tasks. Errors and delay in payments can lead not just to disgruntled employees, but can also attract legal penalties due to overlooked regulations. The IRS estimates that 40% of small and medium business owners end [...]

January 7th, 2020|Categories: HR Outsourcing Solutions|Tags: , , |

Getting Customer Service Spot on During the Holiday Rush

The first and last months of every year is packed with festivity and joy. For people, the holiday season is all about down time, binge-watching, binge-eating and impulsive shopping, which translates to increased business opportunities. The holidays can be a crucial period for businesses - holiday shopping means an increase [...]

December 26th, 2019|Categories: Customer Experience Management|Tags: , |

Five FAQs About First Party Collections You Should Be Asking Too

Handling collections for a business can be tricky. Slow payments and delinquency are challenging, especially in today’s dynamic environment where timing is everything. Having a specialized in-house collections operation is one way to go, but it can be time-consuming, laborious, and expensive. The alternative is to look outside to agencies [...]

How to Empower Customers and Improve Bill Collections

The payment experience for customers is in desperate need of an overhaul. Despite technological advancements and availability of third-party customer service outsourcing opportunities, billing and collection systems are still rudimentary at best. Especially when it comes to the healthcare industry, where patients are taking on more financial responsibility for treatment, [...]

Beyond Open Banking: The X Factor in Consumer Experience

When you walk into a bank’s physical branch, how many millennials can you seen swarming the counters? Probably none. Gen Y is also becoming an endangered species in traditional financial outlets. These tech-savvy customers tend to gravitate towards mobile and phone applications for most of their banking needs. So, it [...]

December 4th, 2019|Categories: Customer Experience Management|Tags: , , , , |

Payroll Compliance 101: How to Tackle a Scorecard in the Red

Historically, payroll has been considered a low-risk organizational function due to its simple objective – compensating workers promptly. With time, evolving labour laws have increased complexity, and payroll compliance has become a key area of concern for many organizations. Globally, payroll taxes are one of the largest sources of [...]

Why Every Company Needs Digitized Payroll and Compliance Systems

Picture this: it is the end of the month and your employees are expecting payment. It is also the time when payroll compliance audits are due. For years now, you have depended on a trusted employee to take care of your company’s payroll processing manually, while also ensuring statutory compliance. [...]

Debt collection trends to watch out for in 2020

Debt collection is one of the oldest-standing practices in the world, considered older than the history of money itself. It existed during the barter system, going as far back as 3000 BC. In those days, if debtors could not pay back their borrowings, they would have to work as slaves [...]

Why the Healthcare Industry Needs a Patient-Centric Collection Strategy

Let’s suppose a person wants to buy a car. They can go online, research the various models available within budget, visit a showroom, test-drive the vehicle and make a decision. They are also walked through the various payment options available to them, including EMIs and loans.   However, when it comes [...]

Catching friendly frauds where they happen

When someone says internet fraud, the immediate image that may come to mind is that of sophisticated criminals, adept at identity theft and online hacking. Yet, there is another seemingly simple, duplicitous act that costs businesses billions: chargeback frauds.  Also called friendly frauds, this particular technique is when a customer [...]

Top Tips for Startups Who Want to Nail Payroll Management

Mark Twain once famously said, “The secret to getting ahead is getting started.” New ventures might think that they have already crossed this bridge. But a startup is more than just implementing a fresh idea. It involves tying together multiple elements, like an efficient human resource department or a payroll [...]

When Customer Service Becomes A Disservice

Picture this: a person visits a car showroom with the intention of making a purchase. A sales representative approaches her/him and offers to help. After exchanging pleasantries, he goes on to give the customer a complete tour of the facility, insists on introducing his colleagues, and engages in conversation for [...]

Is the clock running out on your collection strategy?

Alternative payment methods such as mobile wallets, and UPI are gaining popularity as we inch towards a digital India. Nevertheless, credit card payments see a robust growth, at 25%. In 2018-19, consumers spent 30% more using their credit cards than they did the previous year. With growing credit card payments, [...]

Transparency in the Age of Retail Forex Trading

Foreign exchange is not a new-age phenomenon. Currency trading goes as far back as the first century C.E. The role of shulhani or exchange bankers has been outlined in the Babylonian Talmud, the Jewish sacred text. Pilgrims from far-off countries would bring large amounts of foreign coinage that money changers [...]

Three Ways to Keep Customer Service Agents on Their A-Game

“It is not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages,” Henry Ford once said. There is no doubt that customer service makes or breaks a company’s performance. In fact, businesses lost more than $75 billion a year due [...]

How to Tackle Multi-Country Payroll Complexities Like a Boss

The Coca-Cola Company, the American multinational that is a household name, has 62,600 employees in over 200 countries across the world. Home-bred Infosys Ltd., has operations in 46 countries.  The truly globalized nature of trade today means that a number of businesses operate in multiple locations. This makes for a [...]

Implication of Financial Compliance on Instant Payments

Today’s world is modelled on the principle of instant gratification. Communication is immediate, cabs arrive in the blink of an eye, and food deliveries are promised in under 30 minutes. The payments industry has evolved to capitalize on this trend. But what is the direct impact of financial compliance on [...]

August 20th, 2019|Categories: AML Solutions|Tags: , , , , , , , , |

How AI Can Improve Payroll Claims Management and Reduce Fraud

Most companies have payroll management systems that allow employees to claim reimbursements for office related expenses. This may include taxi receipts, lunch bills as part of client entertainment, or business travel expenses.  Sometimes, employees make fraudulent claims that can weigh heavily on a company’s bottom line. Take for instance, the [...]

G20 Highlights on Crypto Regulation and AML Compliance

At the 2019 G20 Summit held in Japan this year, finance ministers and central bank governors of 19 countries and the EU discussed the global impact of crypto assets. Leaders agreed that tech innovations involving cryptocurrencies could be beneficial for the financial ecosystem. However, there would have to be strict [...]

August 9th, 2019|Categories: AML Solutions|Tags: , , , , , , , |

The Go-To Checklist for Transforming Customer Experience

Every customer has one brand that they are loyal to and would recommend widely. Something about the brand sticks. Most often, it is not just the quality or price of a product but the experience as a whole that is a key differentiator.  A great customer experience focuses on all [...]

Fighting E-commerce Fraud with Technology

In May 2017, Amazon lost INR 69.91 lakh to e-commerce fraud in Bengaluru, and Flipkart was cheated off of INR 1.05 Crore in Kota. These frauds happen across three categories: buyer side, merchant side, and security system side. The methods are ingenuous and cover a broad range including chargebacks, selling [...]

How Customer Experience is Driving Financial Industry Growth

Market volatility is a constant in the financial industry, with new entrants and disruptors forcing institutions to adapt in order to stay relevant. Additionally, the rapid growth of financial crimes means FIs are focused on reducing their exposure to risky assets more than ever before. In such a situation, severing [...]

Here’s Why You Should Get an AI-Driven Employee Self-Service

Artificial intelligence has transformed business, especially the way in which customers interact with the company. Its long-tendrilled knowledge base, enhanced in part by machine and deep learning, enables streamlined customer self-service.  Much like customers, a number of employee queries are also routine in nature, most often centering around organizational policies. [...]