For companies, today smart works are not just a requirement but its necessity. With a lot of pressure in today’s dynamic market and hence dire need to work out with those changes, the companies need to have such solutions that can address such needs curtailing their challenges. In Indian diaspora, financial services industry is one of the most risks facing sector. Financial institutions deal with recurring issues time to time and have been hard-hit. In order to provide solutions to curb financial services industry challenges Spoors Technologies, Data, and cloud-based solutions provider, tied up with Mahindra Finance Limited (MFL) to overcome their problems, enabling them to do smart works.
EFFORT+, for Force Management challenges
For financial services industry Mobile workforce or Field, Employees is a very significant aspect to deal with. They are considered as foot soldiers that represent a Company as the first point of contact. So, it is quite important for them to do smart work for the business requirement. And, so Field Force Management, today, has become an undeniable necessity of financial institutions. The institutions always ensure to have smooth working Field Force Management. For that they look for the solution that suits the dynamic needs of Indian businesses, a company needs a solution that is nimble, intelligent and easily configurable. Keeping this in mind Spoors Technologies comes with a one – stop solution for all the Field Force Management challenges. EFFORT+, short for Effortless Field Force Optimization and Reporting Toolkit. “It is a comprehensive, flexible, domain-agnostic, and versatile software that lets users manage even the most complex field activities. We at Spoors believes in achieving their client’s goals of maximizing field productivity through data powered – intelligent allocation and management of field activities,” says C Ramakrishna Reddy, CEO and Founder-Director of Spoors Technologies.
No more data mismatch or loss
“Mahindra which has an on – field strength of more than 2000 field staffs who used to spend a large part of their time manually tallying recorded data at the end of each day. Sometimes this not only resulted in incidents of data mismatch or data loss but also had a significant impact on the response time to their Client base. Such things somehow affected the efficiency of the organization as a whole. Effort+ successfully managed these challenges managing the Field Force, in a very professional and efficient manner,” explains Abdul Khalid, Senior General Manager, Mahindra and Mahindra Financial Services Limited. Effort+ helps in doing smart work with saving time and making things convenient. It tackles the problem of delayed reporting due to additional overheads of consolidation and verification of the collected data. Also, it removed the conventional pen and paper model with its slow and diminished quality of information flow between the Field Employee and the organization. Apart from that, it also monitors the whereabouts and punctuality of the workforce which helps in maintaining the Customer appointments and commitments.
Beneficial during Demonetization
The Spoors team was a great help for the MFL solution during demonetization period. As C Ramakrishna Reddy mentions, “We spurred into action within an hour of the demonetization announcement. Prior to demonetization, the denominations field on the form featured the high-value Indian denominations. Most receivables were in INR 500 and INR 1000. Post demonetization, MFL was left with the complex task of both grappling with the high-value notes that were no longer a legal tender as well as managing the changes required in software collection to ensure that the process went on smoothly. In few hours, the forms were all configured to reflect the newly introduced denominations. Typically, to accommodate such changes, most companies take months wherein the teams strategize, along with considering a number of backend options”. “Currently the MFL solution is being used to issue 3 types of receipts against loan collections with 5 different types of payment options with hard cash, forming a major chunk of the collections. Field agents would fill a receipt with the rupee denominations on receiving payments from a customer, he added. Though the field staff would require a training session to work with all the changes while updating to most custom solutions but, the MFL field team just had to do was sync their application to get the latest form updates.