While global CEOs had equipped themselves for force majeure calamities as well as natural disasters and were ready with their business continuity plans, no one was ever prepared for a COVID-19 situation that could lockdown 150 countries at once and not allow the workforce to reach their offices! The future business contingency plans will, therefore, focus on working from home. Read more
The client is a financial technology firm with over 100+ years of combined funding and credit expertise. Based in Connecticut USA, the company provides capital and optimal funding solutions to small businesses to help them grow. Areas of funding include expansion, working capital, payroll, inventory, equipment, marketing, etc.
The client provides loans especially to small businesses in the IT, software, restaurant, construction, retail, manufacturing, medical, oil services, and personal services sectors.
The client obtains handwritten loan applications from some loan applicants. The client required an outsourcing partner to help them expedite the loan application process by cross checking the bank statements of loan applicants.
The outsourcing partner had to enter the loan application details onto a web portal and check the loan applicants' credit score and bank statements.
The client visited Outsource2india for a week to review potential outsourcing vendors. On visiting O2I they decided to do a quality test with us.
The primary challenges that were faced during the project were -
O2I analyzed the client's requirement and received a day's training from the client. We then conducted a two day quality test with ten bank statements.
The client provided the loan application details to O2I in a PDF format. O2I had to check the bank statements for cheque bounces, current EMI's, etc., and update the details onto the clients portal. Every application had to be processed within two hours. O2I successfully completed the trial.
O2I accurately verified the required number of applications within the stipulated time.The client expressed satisfaction at O2I's fast delivery, accurate verification, high quality service, professionalism, and desire to go the extra mile.
The client also mentioned that they had envisaged outsourcing hassles initially, but this was dispelled with O2I's seamless outsourcing process. The client saved 60 percent in costs which would otherwise have been spent on an inhouse team.
Based on O2I's service the client decided to sign a contract with O2I and outsource 400 loan applications a week,1200 a month.
O2I provides reliable outsourcing services that reflect your business values and objectives. We offer numerous outsourcing services including Data Management, Photo Editing, Creative Services, Engineering services, and other business services. When you outsource to us you gain access to a seamless outsourcing workflow process, skilled manpower, high-quality, accurate services, the latest technology and tools, and a dedicated team that is focused on Project Management and transitions. If you have a similar project requirement, then contact us and tell us your requirement and receive a FREE quote within one business day.
Decide in 24 hours whether outsourcing will work for you.
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