Firms offering Business Processing Outsourcing (BPO) use AutoRek to provide a range of innovative solutions, as they need to find ways to reduce manpower without compromising service levels.
Although many BPOs may have relied upon 'low-salary territories' to deliver savings to their financial services clients in the past, wage inflation in some of these locations has now risen into double digits, which means that the cost per head in some locations is simply no longer competitive.
Scalability and automation for BPOs
BPOs serving the financial services sector will often need to reconcile high volume trading environments, and are looking for scalability and automation. With AutoRek, this means providing automated reconciliations, settlements and cash allocation.
Our reconciliation software in particular, can dramatically reduce the time spent reconciling data from virtually any internal and/or external source, so that the BPO's resources can be freed up to resolve problematic transactions, manage risk effectively, and provide up-to-date management information.
Gaining robust and effective credit control
Any data related to collections and credit control is also very important for BPOs, as they need to be made aware of any problems in these areas immediately. AutoRek provides BPOs with instant alerts for any problem accounts, leading to faster allocation of cash and better client relations.
This is important, as cash allocation can be time-consuming, especially when it's hampered by poor quality, late or missing remittance advices. As a result, the timeliness of sales ledger information can often be weak for implementing robust and effective credit control.
AutoRek - Leading PETS provider to BPOs
PETS (Process Enhancement Technologies and Services) is a term coined by analyst house Gartner. Put simply, this term covers all the tools that BPO service providers and other organisations are investing in that can ultimately service multiple clients' needs.
AutoRek's process management suite can sit on top of BPO's existing infrastructure and complement even the worst ERP (and other systems).
For more information read AutoRek's PETS.
You can also Download our Case Study: BPO Automates Bank Reconciliations and Cash Allocation with AutoRek or Schedule a VanguArd Demo.