Customer satisfaction is a key differentiator for many organizations today. It becomes more important for banks and other financial institutions, as customer relations is the major pillar of their business growth. But due to stiff competition in the industry, customer expectations are higher than ever. They want more from their banking institutions. Thus, client onboarding for financial institutions has become very important to offer customer satisfaction experience.
But the traditional client onboarding process is lengthy and involves multiple departments within the bank or financial institutes for example front office, risk management, compliance, legal, credit, and others. As a result, it takes up to several weeks and leads to the customer’s disappointment and frustration. It can be very harmful as customer onboarding influences such vital metrics as client loyalty, referrals, and profitability.
Low Code BPM Automation Platform:
Although financial firms make great efforts to improve this process, the results still leave much to be expected, as several obstacles make customer onboarding efforts ineffective. Then how can it be possible? How can you improve the customer onboarding process? The answer is by moving to digital onboarding through a low code automation process.
Low-code automation platform minimizes the reliance on manual processes and points solutions. It dramatically boosts speed to market and provides business users with unparalleled visibility, control, and process metrics for continuous improvement of the customer’s onboarding journey.
Need Evaluation For Your Enterprise Automation?
Crochet Technologies is Global partners of Appian and Pega low code platforms. We assist clients to drive digital transformation in business through Appian low code BPM platform. We’ve combined our multi-year experience and extensive tech industry knowledge to serve many leading banks, financial institutions and government sectors.
If you are operating a business, there is a list of questions that essential to consider to achieve successful results in terms of productivity and revenue, like:
Where are your employees using their time?
How are the different processes implemented in your company?
How much duration are your employees spending on ‘Off-Time’?
Remember self-reporting will never tell you the reality!
Time and motion studies are expensive and slow, yet incomplete as it’s tough to determine things like manual workarounds that may hide broken processes, applications that cause wait time, and digital disturbances that can take employees’ eyes off the ball.
What Can Be The Solution?
The most effective and reliable solution to manage such things is adopting Pega’s workforce intelligence feature. Start by deploying Pega’s workforce intelligence bots on the desktop and these AI-powered discovery bots will work around the clock, collecting information. This way, you can get a full view of employees’ day.
Desktop information shows application usage, processes performed, and more. All this information helps managers to understand the hindrances and distractions that weaken productivity.
More About Pega Workforce Intelligence
Pega Workforce Intelligence takes the actionable insights that you have to quantify and evaluate productivity and performance across your organization. With these insights into employee workdays and their use of the technology & processes on their desktops, you can easily evaluate the employee productivity. You can understand how and when work is performed and identify opportunities to optimize productive work and overall productivity.
Workforce Intelligence with the unique ability to collect a “day in the life” view of your workforce transforms this data into operational insights into the productivity, efficiency, and technology hurdles that are challenging your workforce.
Features Of Workforce Intelligence
The list of salient features of Pega Workforce Intelligence that makes it best to choose:
Analyze employee workflow
Effective opportunity finder in business
Unleash people insights
Focus on improving productivity
Identify digital distractions
Workforce intelligence for CRM
Uplift customer experience and agent performance
Benefits Of Workforce Intelligence
With Pega’s Workforce Intelligence, you can explore the following benefits in organization:
Quick and Easy installation
No instrumentation is required. Immediate data collection.
Insights within a month
Get opportunities for coaching, automation, and or technology improvements.
5-15% productivity growth by starting with coaching or add RPA and RDA automation to increase value
Guaranteed! ROI begins in 30 Days
Workforce Intelligence delivers value within 30 days of implementation. You can drive great ROI in your business.
Success Stories Of Pega Workforce Intelligence
A multinational e-commerce company Radial, Inc. uses Pega Workforce Intelligence to understand its workforce productivity. After involving this feature in business, they observed many exciting results. Workforce Intelligence makes the job of agents and customers quite easy. They find a noticeable improvement in productivity.
A multinational professional services Ernst & Young Global Limited, commonly known as Ernst & Young or simply EY has observed the improvement in employees’ performance by adopting Pega Workforce Intelligence. You may watch their video for more detail on Pega Workforce Intelligence official page.
Crochet Technologies is a global partner of Pega and successfully delivers the best solutions to Banking & Financing services, Manufacturing, E-Commerce, Government & Logistic industries. Crochet provides its core specialized business process management (BPM) consulting and advisory services to worlds leading Fortune 500 & UK FTSE 100 companies. With focus on driving digital transformation through lean & technology-driven approach, Crochet has gained popularity with its Cloud Services offering.
Often Banking & Financial service organizations face multiple challenges during client onboarding due to isolated systems and unproductive systems. This not only affects their productivity and morale of the employees but also adds to the frustration of the customers who go through these mundane manual tasks. These fragmented processes leave the customers disappointed and end up with huge operational expenses and missed opportunities to cross-sell/up-sell. We as partners of Pega enable such organizations to automate and optimize their new business and account maintenance processes through PEGA’s Know Your Customer (KYC) and Onboarding Solutions.
What Does Pega KYC and Onboarding Do?
Pega KYC and Onboarding solutions bring the power of robotic automation to speed client onboarding processes that help in delivering:
Best client onboarding experience
Reduce the processing time
Reduce operational expenses
Accelerate time to market
Improve revenue for the business
Quick response to change
Global Banks & Financial Institutes Add Value To Their Business With Pega KYC & Onboarding
By joining Pega Robotic Automation within Pega KYC, global banks and financial institutions can automate manual tasks in onboarding and KYC remediation processes to enhance the customer experience.
Global bank and financial executives reconsider their onboarding, and KYC processes, which are identified as the most expensive and time consuming steps banks have to manage. Pega KYC & Onboarding can streamline and coordinate these end-to-end processes from client adoption, new product, and right onboarding, and KYC, to legal, fulfillment, and offboarding on a single solution.
The good news is that now Pega KYC provides more productivity improvements with Pega Robotic Automation by offloading high-volume, low-complexity onboarding, and KYC tasks that affect banks and financial industries. For the very first time, banks can perform these tasks more efficiently and quickly to ensure speedy delivery and minimum time to transact with unified robotic automation capabilities.
Pega KYC & Onboarding – Ease The Workload Of Global Banks & Financial Service Providers:
Here are the top reasons how Pega KYC & Onboarding helping global banks and financial service institutes in easing their workload:
Minimize time to market and eliminate manual data entry failures in large-scale KYC remediation projects
Streamline user tasks from front to back office
Cut costs by an additional 20 to 50% by combining robotic automation with Pega Client Lifecycle Management optimized target operating model
Pega onboarding, KYC, and CRM are built on the Pega 7 platform, which gives business-friendly tools to make application development 8x quicker than traditional coding. Pega operates in the cloud or your centers to keep your system updated. It is the only solution that offers the scalability required for full client lifecycle management.
Crochet Technologies is a Global IT Solution & Service company that automates complex business processes and helps in building a strong relationship with customers with the silver partnership of Pega. Crochtech provides end-to-end businesses from Insurance, Financial services providers to Government. With Crochet’s deep business acumen, world-class project delivery, and leadership capabilities and our Pega partnership, you can advance with KYC & onboarding services.
Business process management or BPM software solutions assist organizations in numerous ways. These solutions work as process refinements and automation tools that can streamline the entire business system and come with great customer experience, improved productivity and higher ROI resultsts.
BPM Solutions – Connecting People, Processes and Technologies
Modern BPM drives digital transformation and keeps up with the latest trends of social, mobile and cloud-focused businesses.
Pillar 1 – People
Employee-customer relations underpin just about every aspect of business success. Keeping customers satisfied and engaged has become an essential competitive differentiator between today’s businesses. And undoubtedly people are the center of these relationships. This is what you can achieve with BPM solutions as it helps in connecting people, processes and technologies.
BPM Software Capabilities:
Build process capabilities into apps
Incorporate task management functionality into operations
Provide visibility into both analytics and real-time data
Route processes based on employee skills
These BPM software capabilities help organizations to build a people-focused environment. Employees will be well-positioned to meet the unique requirements of customers. This way you can offer great customer services and associate them with your business for a long time. Additionally, it can efficiently reduce many tedious operations and red-tape procedures.
Pillar 2 – Technology
The significance of IT innovation is immediately connected with how strongly technology aligns with business-specific demands. BPM has always focused on people and processes and has advanced into a digital transformation enabler by computing technology to the equation.
BPM involves technology in the following methods:
Organizing data into user dashboards
Aligning processes and application functionality
Accelerating app delivery
All of the information feeding into BPM systems lets the software offer in-depth analysis into trends and patterns.
Pillar 3 – Process
A business process is a set of activities or transactions that are completed consistently. Or we can define the process that:
Potentially include internal and external users
demand input from multiple stakeholders
Require a variety of data types
Incorporate repetitive workﬂows that can be automated
BPM Software Capabilities:
Identify what processes a business is performing
Map out how those processes communicate
Recognize opportunities for automation
Determine the required scripts and data engines essential for automation systems
BPM solutions empower companies to build internal policies/rules and implement them.
When businesses efficiently bring the people, processes, and technology together, they can streamline different operations. It allows users to access all data they need to better collaborate, which results in quicker decision-making with diminished risk.
Our leadership team has more than 100 years of combined BPM Software experience.
We at Crochet Technologies streamline & automate business processes driving digital transformation to deliver value.
We are partners for leading BPM Solutions PEGA & APPIAN.
Crochet Technologies is a Global Partner of world’s renowned PEGA & APPIAN platforms. It has offices across EMEA & APAC and serves across the globe. Crochet provides its core specialized business process management (BPM) consulting and advisory services to worlds leading Fortune 500 & UK FTSE 100 companies. With focus on driving digital transformation through lean & technology-driven approach, Crochet has gained popularity with its Cloud Services offering.
Until now, enterprises had to code from scratch or purchase a packaged app and then customize it as per unique business requirements. This in turn ends up with a greater cost and time-consuming development process.
With Pega Low Code Development platform you can create a standard in your business application and drastically cut down the cost of traditional app development and other related operational expenses.
What is Pega Low-Code App Development Platform:
This platform is a low-code factory approach that enables developers to develop enterprise apps with low or zero coding stress. Business users, developers, and IT can collaborate, build, and deliver brilliant applications from one comprehensive environment. It provides leverage to organizations to build apps quicker and smarter. It additionally speeds up the customization process of app development and support to the most complex enterprise use cases.
Key Features Of Pega Low Code Platform:
Enhance productivity in one agile environment
Cosmos design system
Higher quality application
Quick and powerful integration
Earlier business value realization
Greater Transparency & visibility
Case management & BPM for regular flawless operations
Critical Challenges Fixed By Pega Low Code Platform:
In most general cases, the low-code application development software supports two types of users
Business/power users who remain in search of the software that makes it simple to design & build simple applications.
This group of users faces the following challenges:
Not fluent in a programming language
An accurate translation of business requirements into functional capabilities
Ability to respond faster to changing product, market, or campaign requirements
Limited knowledge of governance, control, and policy management
IT departments who need software that assists develop more complex processes and integrations while support to automate the app development process.
This group of users faces the challenges:
Modification of legacy systems
Collaboration with stakeholders timely
Software toolkits that limit collaboration
Project overload/restrictions on IT staff availability
Pega low-code app development platform provides a simplified, graphical UI commonly supported from limited functions and basic apps to complex enterprise app development. On the other hand, Pega low-code app factory strategy leverages visual tools that let business experts build the applications faster and without writing code. It offers governance frameworks to leverage, reuse, and collaborate with IT in order to assure quality, security, and sustainability.
Benefits Of Using Pega Low Code Platform:
Helps organizations to build agile applications quickly
Reduce 1/10 app development cost
Speed up x10 times the app development process
Enhance productivity to build more apps in less time
Better customer experience
Efficient risk management & governance
Faster digital transformation
Give end-to-end developer experience
An American leading scientific research organization Air Force Research Laboratory has built a powerful platform with the help of Pega Low Code capabilities that help them to improve data quality for empowered decision-making.
Siemens AG is a German multinational conglomerate company that has created a new Global Master Data Management solution with the support of the Pega Low Code. This solution helps them in reducing 65% of customer onboarding time and automating data validated at initial data entry points.
With Pega’s low-code platform, Optum, a part of UnitedHealth Group, was able to move the lead business architect to the business side. It drastically enhances the delivery due to subject matter expertise. By connecting data across the enterprise, Optum also designed a chargeback model to track spending down to a clinician-level with Pega assistance.
Crochet Technologies is a Global Information Technology (IT) Services and Solutions company. With the silver partnership of Pega, Crochet helps organizations in streamlining and automating business processes. Crochet offers end-to-end services from business consulting, development, design, and managed support in Pega space. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we are supporting companies in building the most powerful application quicker and with low code capabilities. These applications help them to drive powerful outcomes in business.
Well-said by a great businessman, “There is only one boss, The Customer.” Any company can find unpredictable obstacles in their path, but those who place their customers’ on top priority can handle them successfully. One of the lessons 2020 has taught businesses is the importance of developing sound relationships with customers. With the strength of strong customer relationships, businesses can stand in the market even in the COVID-19 like situation. This simply depicts to drive successful outcomes in your business, you need to be focused on improving customer services.
When it comes to improving customer services, the CRM system is considered the most effective tool to keep the businesses organized and customers satisfied. The system helps the business to engage their potential customers from anywhere, anytime, or on any device rather than just making them wait over the phone.
How CRM helps in improving customer services:
CRM tools are specially designed with a number of advanced features and functionality that help the business to improve productivity and build a sound relationship with the targeted audience. In addition to this the most business CRM systems have case management functionality that enables agents to track & manage professionally:
Customer Contact Information
CRM system offers many leverages like LIVE chat or more to the service agents that help them in making a good relationship:
Engagement Through Different Social Media Platforms:
One of the best benefits agents can utilize with CRM software is social engagement with customers. Agents can distinguish the key social media influencers within their customer community, and get vital marketing insights applying the built-in analytics that are usually given by CRM systems.
Knowledge Management Portals
Another remarkable feature of CRM systems is knowledge management portals for customer self-service. These portals allow customers to reach FAQ or troubleshooting items(usually articles) without the help of an agent. Some CRM solutions also allow organizations to provide customers with their online communities where they can invite each other for help, provide feedback, and even voice their plans for new services or products.
Crochet Bespoke CRM Solutions
Crochet Technologies is a Global Information Technology (IT) Services and Solutions company. Crochet’s helps streamline and automate business processes across industries. Crochet offers end-to-end services from business consulting, development, design and bespoke CRM & enterprise solutions. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we assist companies in making the most of digital transformation CRM investments for driving their business value.
We have clients across Banking and Financial Services, Manufacturing, Telecom and Public affairs. We create AI-powered CRM applications that helps small and large enterprises to revolutionize their customer engagement with end-to-end automation.
Mobile devices are emerging as a powerful tool providing phenomenal opportunities to the sales team. These devices offer fantastic opportunities for sales representatives and managers to automate different processes and perform an array of work like checking email and schedules tasks, sharing files, accessing documents and collaborating with their co-workers effortlessly.
That’s why every well-developed organization considered mobile applications the most reliable and efficient platform to achieve success in lifting sales.
The purpose of providing mobile devices to the sales team is usually getting the deft and diligent performance. Improvement in sales performance depicts that you’re saving the time it takes to get things completed that ultimately ends in financial savings for the business.
But, the substantial fact is that you don’t have to settle for just boosting productivity. You have to look for solutions that can aggressively drive more sales and energize your sales teams. And, for this purpose, Pega Sales Automation which works equally seamlessly on mobile can be a game-changer.
The Pega Sale Automation application is specially designed for the mobile sales rep or manager and gives an intuitive user experience to automate and streamline common sales activities. In addition to that many other features of this application make it a perfect tool to choose.
Salient Features Of Pega Sales Automation:
Automate & accelerate the sales process
Less time on updating system or hunting content
Instant access to important sale info
More time with potential customers
Keep progressing sale efforts 24×7
Online & offline access to sale reminders
Informed actions in real-time
Seamless customer experience
Improve sales management performance
As responsive as on the desktop version
Easy to use application
Crochet Technologies (www.crochetech.com) is a trusted silver partner with PEGA and has successfully delivered on Sales Automation requirements in Banking, Financial Services, Insurance, Government & Telecom clients. While building the application, their primary focus is always gathering information about clients’ current objectives and then applying the best practices to action.
More About Crochet Technologies
Crochet Technologies is a Global Information Technology (IT) Services and Solutions company.
Crochet’s Pega competency helps streamline and automate business processes across industries. Crochet offers end-to-end services from business consulting, development, design, and managed support in Pega space. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we assist companies in making the most of BPM investments for driving their business value.