Automotive Finance Firm Solution

Suma Soft Assists Award-winning Automotive Finance Firm With Business Processing Module

Client’s Background

The client belongs to the finance department of India’s leading manufacturer and exporter of motorcycles and 3-wheelers. They are one of the few Non-banking Finance Companies (NBFC) in the country to be awarded an ‘FAAA’ rating by the Credit Rating and Information Services India Limited (CRISIL), which indicates the highest level of safety of depositors’ money. Our client holds a network of 500 auto dealerships and over 55 branch offices throughout the country to facilitate fast and flexible retail finance availability for its vehicles.

Project Requirements

The business growth led to a rapid expansion of auto dealerships across the country. This business growth required real-time processing of transactions with scalability to handle monthly and seasonal peaks. The existing mechanisms to ship hard copies of documents to the central processing facility were complex and time-consuming. It resulted in a longer turn-around time to process each application. Paper-based processing also had its handling issues, including inventory management, handling, and storage. Thus, the client needed the processing time to be reduced from one week to 1 day.

Critical Operational Needs

Solution

Suma Soft offered a comprehensive approach to address the technical and operational issues. The Automotive finance firm was presented with:

Suma Soft designed, developed, and deployed a SAAS-based business processing platform. This platform provides a higher degree of flexibility and availability with any upfront development and hosting costs.

Essential features:

Suma Soft placed a scalable processing team consisting of over 100 processing associates that offered operations for 365 days. With extensive training on the client’s processing requirements, the staff was trained to meet month-end and festive-season peak volumes. The processing team and quality systems implemented at Sums Soft resulted in meeting client SLAs for turn-around time and quality. The processing TAT came down to 1 day from over a week.

Business Outcome

The SAAS platform and BPO services provided by Suma Soft helped in ramping up auto dealerships in remote geographic locations and increase the business volumes of the client. The solution and services decreased turn-around time and improved the quality of processing. This resulted in a significant reduction in customer acquisition costs.

The BPO processing service enabled the client to focus on the business growth and not to worry about the processing. It has offered immense scalability to the client.

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