Point of sale solution
Point of sale solution helps in better service levels, quicker processing and reducing sales cycle
The customer, is the 2nd largest bank in Malaysia with over 70 billion Malaysian Ringitt in assets and a huge network of banks across the country, in addition to being a leading financial conglomerate in Malaysia.
They offer individual and credit life products services to over 2,50,000 policy holders through various channels to market like Financial advisors, tied agents, agencies and Banks - more popularly known as Bancassurance
The client's existing "bare bones" Point of Sales solution was not fulfilling their requirements. To maintain their competitive edge, the customer needed to improve upon the following:
- Stronger service levels
- Quicker processing functionality to meet niche market requirements
- Measurable reduction in sales cycle time
Operational issues were to be addressed:
- A non-integrated system
- The absence of checks to prevent entry of incomplete, incorrect, or duplicate data
- The lack of a reporting system, which made it difficult to extract information for the decision-making process
Simply put, the customer needed a comprehensive, Internet-accessible solution to accelerate operational processes. This solution also needed to be easily accessible throughout the organization.
Implementing Mastek's completely integrated Point of Sales system was the answer. Point of Sales provided a comprehensive pre-sales functionality, along with the generation of customized, online presentations. The off-line availability of this solution also helped to improve user's agility while reducing costs.
Other benefits included:
- Sharpened operational efficiency and decision making that significantly reduced the sales cycle time and associated costs
- Enhanced customer satisfaction through consultative sales and proactive servicing
- A sharper competitive edge afforded by the freedom to innovate and dramatically reduce time-to-market
- Maximized relationships with channel partners by ensuring effective performance management and self-analysis
- Quantifiable 50+% time-to-market reduction
- Notable 30% sales cycle time reduction