Archive for 'Customer Communication Management'


Improving Customer Experience by integrating DOCCM with Big Data

Organizations are investing big on big data with the vision of getting better insights from the various forms of structured and unstructured data generated within an organization. This aim of this blog is to highlight how this information can be utilized from a Document Output for Customer Communications Management (DOCCM) point of view, in order to provide better customer experience.

Why Big Data?

As per Gartner “2 out of 3 big organizations are investing in Big Data” *1. Gartner’s Sep 2013 Survey shows, that 55% of organizations said that they are currently addressing enhanced customer experience using big data*2. It is then evident that the Big Players consider the use of Big Data to deliver better customer experience very seriously. Organizations annually churn out a large amount of Big Data, especially with increasing number of investments and projects that they undertake. DOCCM can utilize this information to get better insights of customer behavior and generate more meaning output to improve customer experience.

How DOCCM can use this information

DOCCM solutions are both data consumers and generators. They also serve as an effective output system since information generated from DOCCM solutions reach customers directly. As a result customers are provided and have access to content, customized to their needs. This greatly improves their experience. It is apparent that we think about how DOCCM solutions can make use of various structured and unstructured information and deliver contents to improve customer experience.

Data Capture and Presentation

Products in DOCCM domain, accept various sources of data. This information is collated by the data capture services. The input sources accepted by the system are limited and incorporation of unstructured information still demands of preprocessing of information. By including standard big data sources as the input sources, DOCCM solutions will have access to richer and meaningful content. The unstructured information can be arranged and presented in a meaningful way to improve customer experience.

Targeted Promotion

Big Data can provide enough information to the rule engines of DOCCM solutions, so that they can take an informed decision about “selling what to whom”. With the accessibility of huge amount of related data about the customer, DOCCM solutions can attain deeper understanding about the customer behavior, which then can be used for offering meaningful promotional content to customers.

Change Management

As a Big Data repository consolidates information from various sources, resulting in a simplified process of change management. The process of accommodating additional source of information in the document template will be easier and thus will require less time and effort to roll out changes.

Content Generation

DOCCM not only captures and compose the information, but generates content as well. This information can again be stored in the same Big Data repository as a feedback. This will not only serve as a store for generated content, but, in due course of time, also serve as a thorough history of content creation and can be used as a data source itself.


Considering the significant increase in investment on using Big Data technologies for customer experience improvement, DOCCM is definitely being an area where much can be done. DOCCM depends on quality data to generate meaningful output and Big Data can just fill that gap.

References -

Name: Sarthak

Bio: Sarthak Banerjee is a technocrat with 9+ years of experience in software product design and development for large enterprise clients in the banking and financial services domain. He has been instrumental is designing several innovative products / product features / product enhancement and solutions that have helped transform the banking IT landscape.


Consistent and Cost-effective Reporting – Key to the Success of Wealth Management Institutions

While financial institutions explore new territories and trade across multiple geographies, currencies, and products, they are pressed with the challenge of meeting their customers’ expectations like never before. The new generation high net-worth customers demand far more attention from their wealth managers in terms of time and personalized services, than their older counterparts. These technology savvy customers want services to be delivered instantly, and via their preferred channel. Moreover today’s asset owners are very cautious about the performance of their investments, and demand complete transparency from their wealth managers in asset reporting. In such a scenario, banks not only face the challenge of offering a comprehensive portfolio of products, but are also expected to provide customers with on-demand, real-time reports of the performance of their assets.

Clients expect their primary financial institutions to provide a consolidated view of their net assets, including non-custody investments (investments with other banks or wealth management entities). Financial institutions need to ensure that their communication with customers is consistent across channels. Inconsistent reporting across different channels might translate into customer mistrust, and consequently into customer churn.

While efficient client reporting is critical to the success of wealth management institutions, they still struggle to deliver consistent and cost-effective reporting to their clients. Aggregating data collected from multiple disparate systems is challenging. Further, report creation involves multiple reviews by financial advisors, analysts, and legal and compliance functions, which adds to the process complexities. In order to overcome these challenges wealth managers need an end-to-end process automation solution covering every aspect of client reporting – including data aggregation, validation, creation of personalized reports, multi-channel distribution, and archiving using a single integrated solution.

Bio: Garima is Manager - Marketing & Communications at Newgen Software.


Customers have Options, Banks don’t…

Today, customers not only want anytime-anywhere access to their account details, but also the power to manage accounts, check status updates, and even chat live with a customer service representative 24/7. If you can’t satisfy your customers’ requirements, someone else will.

With expansion plans of leading banks, government’s focus on financial inclusion, and the entry of foreign banks, competition in the banking landscape is getting stiffer each day. Driven by the preferences of their tech-savvy customers, banks are investing significant time and money in exploring newer technologies that can help them exceed their customers’ expectations. Banks are looking at innovative technologies such as mobility, cloud, and virtualization to drive differentiation. Going by a recent industry research, published by analyst firm Ovum, IT spending by banks globally will reach $118.6 billion in 2013.

In today’s scenario, where real-time customer service has become a norm, mobility has become a strategic imperative for banks to remain competitive and retain their customers, by proving convenient, simple, and secure banking services. Mobility offers an opportunity for banks to offer convenient self-service tools to their customers. It gives customers the freedom to securely access their personal accounts, process transactions, or make payments – all using their mobile devices. When it comes to retaining customers, there is no room for delay – your bank is either on mobile or off the market.

Bio: Garima is Manager - Marketing & Communications at Newgen Software.


Mobility – Ensuring Business Success for Insurers

Driven by the rise in penetration of mobile phones and tablets, in the past few years, it has become ineluctable for every business, to embrace mobility. Especially any business, for which success depends largely on customers’ service experiences, must have a sound mobile strategy, in alignment with the changing customer preferences.

While mobility finds its applicability across all industries, it can play an essentially critical role in the success of an insurance organization. When leveraged across the insurance value chain, mobility can yield real business value, in terms of enhanced customer satisfaction, simpler processes, and reduced cycle times and administrative costs.

Insurers can use mobile technology to establish virtual offices for their field staff, allowing them ‘anytime-anywhere’ access to relevant information, such as customer details, new policy features, policy quotes, etc. This would result in faster sales cycles and improved revenues. Using mobile applications, insurers can enable sales agents to capture customer information at the point of contact, transfer it to the central processing office in real time, and initiate the processing of applications instantly.

Customer self-service is another area where mobility can add immense value. Today, mobile phones have become a norm, and the proliferation of smartphones is witnessing unprecedented growth rates. In such a scenario, in order to retain and expand its customer-base, it becomes imperative for an insurance organization to offer self-service tools, allowing customers to access their policy information, locate agents, pay premiums and apply for claims over their mobile devices.

Owing to the benefits that it promises to insurers, the case for adoption of mobile solutions is very strong. However, before an insurer invests in mobile solutions, it is important to outline a sound mobile strategy based on its specific requirements, in order to maximize the benefits of mobility.

Bio: Garima is Manager - Marketing & Communications at Newgen Software.


Mobile Capture – Taking new strides in customer service

We live in a world of ‘instant noodles’, ‘home delivery’ and ‘short attention spans’. Customers have developed an insatiable need for products and services that provide “instant” gratification. It is not surprising then that companies around the world are tailoring their offerings to cater to this evolving trend.

One of the most important touch points between a company and its customers is Customer Service. It plays a major role in defining customer experience. Therefore, it cannot remain immune to these changes, especially since customer service in most verticals is highly document intensive and process cycle times take multiple days.

The primary challenge faced by customer service/field executives in delivering effective customer service is getting paper documents from the point of initiation to the actual processing center. This is true for verticals like Banking, Telecom, Healthcare and Logistics. Typically the information is captured on a physical application form, submitted to a branch from where it gets couriered to the processing center and then finally gets processed. Improper filling, missing supporting documents, loss in transition add on to the turn-around-time for the process. Capturing information at the Point of Customer Contact and initiating its processing in real time is a challenge both in terms of time and cost.

There is a dire need for a tool or technology that can bridge this gap between service delivery timelines and customer expectations. One avenue that gives some reason to cheer about is the tremendous strides that mobile technology has made over the years. For the customer service industry, this opens up several opportunities, some of which if absorbed into its processes, can yield very encouraging results.

One such innovation is ZapIn – a Mobile Capture solution and one the latest product offerings from Newgen Software. It comes in the form of an enterprise app that is pre-loaded on a smart phone or tablet. It is a revolutionary technology that allows the business executive to capture physical application forms and supporting documents along with the key metadata. The advanced imaging capability of the solution allows the field executive to capture documents remotely and instantly initiate its processing at the back-office. The captured documents are compressed making it feasible for them to be transferred over a GPRS/EDGE/3G data connection. Given the potential this technology holds, it is bound to become pervasive in verticals where quick retrieval and transfer of data and images are business critical components of customer service.

Mobile capture is a way to boost the energy level and excitement around a technology that has clear business value. For users such as banking/insurance/logistics executives and other on-the-move professionals, it will allow them to do their jobs better and more efficiently. The technology will give a major boost to the green initiative by reducing the demand on replication of paper. The growing stature of Cloud services and more technical advancements in imaging/scanning tools in mobile devices will further propel the growth of this technology.

The future of the mobile capture market, even from the most conservative of perspectives, is going to be huge. It may not skyrocket to instant fame but slowly and steadily it will fulfill its vast potential. The growing affordability of smart phones and tablets will act as a catalyst for the adoption of this technology solution. Above all, it will depend on organizations that are smart enough to embrace and implement this technology and derive measurable business benefits.

Name: Imroz Adeeb

Bio: Imroz is Associate Manager - Corporate Communications at Newgen Software.


Newgen Brown Bag Club – Sharing P2P Information

Information sharing is a process through which team members collectively utilize their available informational knowledge/resources and make it available to their peers for a mutual learning experience. With the ever increasing demands to fulfilling business needs it becomes extremely important to stay ready and face any business challenge with relative ease. The situation gave us an idea to create a platform for peer Newgenites and it embarks the birth of Newgen Brown Bag Club.

What is Brown Bag?
Brown bag is a symbol for meals brought along by the attendees, or provided by the host. In the most part of the world, those are often packed in brown paper bags.

Brown Bag Session:
A brown bag seminar, session or lunch is generally a training or information session during a lunch break or during a non productive hour. Brown bag seminars normally run an hour or two. The aim is to use regular breaks, e.g. the lunch break, to share some information amongst the attendees in a voluntary and informal setting. It is often followed by a discussion on the topic. This is an interesting medium for knowledge management and internal communications.

Brown Bag Club Vision:
To create a platform for knowledge and information sharing amongst peer Newgenites.
To allow them to grow horizontally and vertically in all Newgen involved domains and practices.
To make the brown bag club reach at a level where it can be used by the peer Sales and Pre-sales teams to allow Clients/Prospective clients have a strong reference.

Objectives of the Club Sessions:
1.    Creating an environment of peer learning
2.    To share, what all information any member have on any domain and/or any process
3.    To debate on the concepts, brushing your workflow processes, discuss about an upcoming product/technology/business and anything or everything
4.    To polish your ideas on implementation, delivery methods etc
5.    To improve the project management skills
6.    To improve the communication skills of the members
7.    To improve the inter-personal skills of the members
8.    To create a knowledge vault of information

Outcomes/Benefits of the Club Sessions:
1.    To deliver a much refined process workflow for Newgen Customers
2.    Debating will clear the concepts and would invite fresh ideas and methodologies to polish up work
3.    To learn about various domains and industries, this would allow the members to bridge any gap with ease
4.    To expand horizontally and vertically across Newgen products and industries
5.    Better customer facing and presentation skills
6.    Information archival for future

Brown Bag Session – Conducting Procedure
1.    Finalize the topic voluntarily between the members / Invite someone outside of the club to present
2.    Finalize the date and time
3.    Discuss about the expectations of the members for the incoming session
4.    Share the expectations with the presenter
5.    Ice Breaking – Member nomination
6.    Session/Discussion
7.    Information archival for future use. (Archive articles, White Papers, Case Studies, PPTs etc. )

Brown Bag Club Moderators:
•    Sumit Sahdev
•    Sumit Aggarwal
•    Ranjan Kumar
•    Sparsh Arora
•    Gagandeep Madan

Brown Bag Session Schedule:

S.No. Topic Presenter Domain Date Time Venue
1 Newgen Brown Bag Club Sumit Sahdev General 5-Jan-12 2:30-2:40 PM D152 Conf room
2 SWIFT Sumit Aggarwal Banking 5-Jan-12 2:40-3:30 PM D152 Conf room
3 Insurance Sparsh Arora Insurance 5-Jan-12 12:30-1:30 PM VC Carpet Room

Webinar Recap: Better Customer Experience Demands Smarter Communication

Newgen hosted a webinar ‘Better Customer Experience Demands Smarter Communication’, on February 01, 2011, to discuss current trends and best practices in Customer Communication Management.

Craig Le Clair, leading international expert in Customer Communication Management (CCM), of independent research firm, Forrester Inc, kicked off the presentation by explaining to the participants, how an integrated Customer Communication Management (CCM) approach translates into customer loyalty and reduced operational complexity.

The webinar was co-hosted by Ashish Deshmukh, Director – Business Development, Newgen Software, who shared invaluable insights, revealing ways of achieving personalized customer communication for up-selling, cross-selling and meeting regulatory compliance. His session included a case studies walkthrough on how a leading Financial Service Organization and a large Healthcare Insurer transformed their Customer Communication Management (CCM) processes so as to enhance customer experience, augment operational performance and drive growth.

New generation customers demand more personalized, contextual communications, delivered in real time, through their preferred channel. Customer Communication Management provides a platform to deliver smart communication, maximizing the effectiveness of all communication touch points while complying with regulatory mandates and branding guidelines. An integrated CCM with enterprise content & BPM framework provides organizations an agile process for creation, review and distribution of personalized communication across multiple channels consistently.

Key Takeaways from the Webinar:

  • How CCM addresses the challenge of consolidating information from multiple sources into a single Customer correspondence?
  • Single Platform for multiple distribution channels
  • Adherence to Regulatory compliances
  • Create Personalized Statements/Letters/ Correspondences
  • Managed workflow for interactive document editing, archival and retrieval
  • Easy change management
  • Cost optimization and better control on wastages
  • Better up-selling and cross selling

For many useful tips from both Craig and Ashish, click here  to view the podcast.


Customer Communication Management (CCM) – Bridging the divide between the customer and the banker

The world over, Banks and Financial institutions are facing a tough economic climate. It is only natural that they are looking for ways to increase their business and without the burden of incurring costs. There is a need to be more innovative and Banks and FIs today realize that it is critical to effectively communicate with customers and deliver superior service, improve efficiency and reduce costs. In this light, maximizing the effectiveness of daily communications such as bills, statements and correspondence is becoming a top priority. This also means improving customer interactions in a consistent manner across a wide spectrum of customer touch points and media channels.

The 21st century is being annunciated as the information economy, wherein knowledge is power. The more knowledge and information banks have at their disposal, the more prepared and equipped they will be to handle the complexities and uncertainties of the economic ecosystem. So how is this unassailable knowledge extracted?

From customers of course!

The easier banks make it for customers to do business with them, the better it is, to gain an understanding of customer needs and the easier it becomes to enhance their relationship with them. The challenges that retail banks face today will not evaporate overnight. Banks will continue to face reduced marketing budgets, increased regulatory and compliance issues, ever demanding consumers and a diffident economy.

It is natural, in volatile times, for businesses to undertake serious self-introspection. The current economic gloom therefore throws up some intimidating questions:

  • With budgets shrinking, how do banks and FIs meet all their regulatory obligations for communicating with customers and still improve and grow their customer relationships?
  • How do banks capitalize on each opportunity to communicate while satisfying their customers’ needs to be acknowledged and valued?
  • How can the wide assortment of data about customers be leveraged so as to provide a personalized, compelling and consistent series of communications that benefit the customer and at the same time, grow the revenue derived from them?
  • How can banks improve the effectiveness of their communication channels and also propagate more environmentally friendly ways of communicating and fulfill their corporate social responsibility?

The questions are compelling but their answer lies in one comprehensive solution. The answer is Customer Communication Management (CCM). CCM simply means enhancing customer experience in a cost-effective manner by communicating and engaging with customers through a multitude of channels and mediums. CCM enables banks to connect with their customers by providing them with personal and immediate attention. CCM also ensures that banks have better control over their communications, provide an opportunity to cross-sell and up-sell their services while also keeping their operations profitable.


Co-Create Products and Services with Customers Using a Robust CCM Solution

Today’s customer is more informed than ever – and more astute in making purchase decisions. Effective customer communication can act as a catalyst for companies to create greater organizational efficiency while optimizing the profit potential of every touch point with the customer. Businesses need to realize the importance of customers’ data as a reflection of customers’ voice, and initiate the first step in giving voice to the customer by incorporating a timely and effective communication strategy. For an organization to achieve this, a robust Customer Communication Management (CCM) strategy – offering full functionality required to deliver on all aspects customer communication – is an absolute must.

Timely, personal, relevant and compelling communication is critical to building trusted and long-term customer relationships — this should be a given. However, organizations still struggle to manage and deliver consistent and cost-effective communications across today’s multitude of communication channels. The chances of cross-selling or up-selling are dramatically dropped if there is a gap between the customer’s requirements and the offer made to him.  Distribution to multiple output channels like print, email and web presentment is challenging due to high turn-around-times for replicating changes and absence of versioning. Dependency on vendors/ IT experts for performing minor changes, like templates, business rules and workflow — things that should be in the hands of the business, not IT, leads to escalated costs and unnecessary delay in communication. Another major challenge lies in enforcing branding guidelines like font style and background to ensure consistency across all customer communication for brand recognition.

Inconsistent and irrelevant communication may have serious implications for any business. The solution lies in co-creating products and services with customers by intelligently using customer data to create personalized and targeted communication. In today’s “connected” consumer-centric world it has become imperative for businesses to adopt new channels to engage and stay in tune with customers’ needs, demands and expectations. To be able to up-sell and cross-sell effectively, businesses must monitor customer data in real-time to enable need-based targeting. CCM harnesses the power of existing Customer Relationship Management (CRM) and transaction data to ensure that the on-going communications are highly personalized and relevant.


Understanding the Basics of Customer Communication Management

With an explosion in new communication channels, businesses are faced with the challenge of ensuring clarity and consistency across all customer communications. The very definition of “customer communication” has expanded manifolds to include everything from billing to direct mail marketing to e-marketing to electronic bill presentment and so on. Banks and Financial Institutions have always been the leaders in setting high standards for customer expectations by continuously enhancing customer experience. The result is that high-touch, 24/7 service across multiple channels is no more representative of customer delight but has become a basic requirement for keeping customers happy and loyal in real time.

To survive in a competitive market place it is necessary to effectively manage all customer communications. Reduced customer acquisition costs, increased client retention and maximized lifetime value of each customer are the end objectives of every communication strategy. Customer Communication Management (CCM) refers to a convergent set of Information Technology solutions that help businesses achieve these objectives by providing a tool to advance the way they communicate with their customers. CCM takes care of every aspect of customer communication – including content creation, personalization, and multi-channel distribution and archiving using a single integrated solution. Dependency on vendors/ IT experts for performing minor changes on different systems leads to escalated costs and unnecessary wastage of time. CCM tools overcome this challenge by empowering business users to create and manage customer communications, reducing the reliance on costly IT resources.

Data-rich industries such as banks process volumes of transactional documents daily. Each such document is an opportunity for revenue realization. CCM treats these transactional documents like bank statements, statement of account, invoices etc. as marketing collaterals to promote company offerings to customers.

A properly implemented CCM solution can bring significant benefits to organizations. Let’s take a look at the advantages that a CCM or Customer Communication Management solution can bring.

  1. Better execution of multi-channel campaigns ensuring consistency and clarity across all channels
  2. Automation of the creation and delivery of well-designed, highly personalized communications
  3. Easy change management by incorporating version control mechanism
  4. The ability to focus on the specific requirements of every individual customer to deliver more relevant and meaningful communications to customers
  5. Integration of intelligent enterprise data into transactional communications enabling responsive and agile marketing for better up-selling and cross-selling
  6. Better visibility and control over your communications to help your business operate profitably
  7. Reduced dependency on IT experts for performing minor changes
  8. Regulatory compliance
  9. Better up-selling and cross selling


Recent Posted Comments

Swati Pandey
19th Feb 14 Posted a comment on Facilitating Financial Inclusion through Digital Transformation
Well written and informative.The article clearly depicts the writers thoughtand knowledge in the domain.All the best!! Looking forward for more ...
13th Feb 14 Posted a comment on Dynamic Case Management – A Fusion of BPM, ECM and Business Analytics
I think this is one of the most vital information for me. And i'm glad reading your article. But wanna ...
12th Feb 14 Posted a comment on Contemplating the Transition to Cloud Storage
I value the blog.Really looking forward to read more. Cool.
11th Feb 14 Posted a comment on Dynamic Case Management – A Fusion of BPM, ECM and Business Analytics
I concur! completely with what you wrote. Fantastic Gear. Be it going..
9th Feb 14 Posted a comment on Opportunities and Challenges for Cloud Adoption in India
Nice post. I used to be checking continuously this weblog and I am impressed! Very useful info specially the closing ...