Finance – BFSI

 

Banking and Insurance are backbone to an economy. The growth for this sector depends on increase in coverage and on on-time collection of dues. There is extensive use of technology to overcome issues in the Sales and Operations. Financial organization are ready to embrace the latest developments in Information Technology.

One of the main tools used for tracking the performance has been BI applications. Leadership at different levels of the organizations depend on Dashboards and Reports to track the Sales and Collections. But is this good enough?

 Answer is “No”.

Data shown from BI are numbers shown in form on pie and bar charts which is conventional in terms you looking at your business. Would it make better sense if the same data is been shown to you spatially since your business is spread geographically?

But can data be dashboarded with visual representation where in decision makers can be informed proactively on areas of improvement REALTIME?

Let’s divide this into 2 areas as outlined below:

Sales

There are two founding aspects of Sales in BFSI:

  1. Follow-up existing leads for successful closure
  2. Create sales opportunities in existing and new areas

Management currently depend on figures from BI reports. But it doesn’t really cover the visual feel about the data shown in numbers. If only they could only see where the leads are present or which area has not been covered would help digest the data better?

Collection

Better collection efforts result in Advances being in good health. Organization deploys collection agents to ensure on-time recoveries.

  1. Wouldn’t it make sense to have a visual representation for management and collection agents regarding due in a specific area REALTIME?
  2. Wouldn’t your decision making abilities become easier and stronger looking at collections shown in visual format?

 

That’s where WIAN comes in handy with WIAN Maps.

WIAN MAPS can help your enterprise with the following:

  1. Providing area-wise view of the leads to be followed
  2. Providing existing sales coverage on our homegrown maps
  3. Tracking Sales completed Vs Identifying potential sales
  4. Identifying existing customers for cross/ up sell based on customer demographics.
  5. Tracking collection showing recovery areas in real time.
  6. Providing collection agents with routes optimized
  7. Focusing on areas with high defaulters or on an increasing trend
  8. Presenting data based on user profiles i.e. collections would see collection data while sales would see sales data etc.

It does not stop there!

You can discuss with us your specific pain points. We would be more than happy to study your digital journey and help your enterprise elevate to Cognitive Enterprise.

Please feel free to reach us at sales@wianleaf.com