Large Australian Bank Drives Efficiency in Payroll and Operations Processes
The client is a large bank in Australia in terms of both market capitalization and customer base (8.3 million consumer and business banking customers, and more than 2.3 million wealth management customers), operating across 10 countries.
To operate more efficiently, the bank needed to rectify errors in its payroll process – a process that covered as many as 30,000 employees. Employees were finding themselves tied down for the most part in transactional activities, and consequently, productivity was not quite up to expectation. Strengthening the bank’s risk management framework was also considered important.
The Infosys Solution
Initially, Infosys BPM adopted a structured approach by migrating the client’s processes to the Infosys BPM location. This was followed by process harmonization, which included standardizing input elements and data points, as well as streamlining policies and business rules. Infosys BPM specialists also helped build backups and improve process effectiveness through role realignment and cross training. Also, multi-shifts were implemented to ensure quicker turnaround time (TAT) on certain critical processes.
Infosys BPM brought into play a comprehensive solution that included the following elements.
Rigorous tracking and reporting of metrics – using a helpdesk infrastructure
Increased visibility, operational effectiveness, and
timely resolution – by means of an operating model that provided enablers such as mailbox, workflow tool, and FAQs
Improved revenue, productivity, and
quality – through continuous process improvements based on Six Sigma initiatives across processes
The Infosys Advantage
- Helpdesk team with
an 85% grade-of-service score and abandonment rate of under 3%
99% quality in the transactions processed
Staffing realignment and change in workforce model based on volumes
More than 50% improvement in TAT in at least 30% of the activities
More than 50% of advisors come in the second shift, and there is better retention due to improved timing of the shift
Improvement in grade-of-service score from 65% to 80% through process streamlining and creation of a new queue on the basis of the call pattern
- Breadth and depth of
expertise in global delivery
Proven experience in leveraging technology to solve clients’ problems
- Continuous focus on
Clear understanding of Australia’s market dynamic and culture
Flexibility, transparency and high customer-orientation