The need to increase shareholder value and deliver performance improvements are constant drivers in the day of an Operations Director.
We’ve all heard of the phrase “you can’t have your cake and eat it” but this may be one of the rare occurrences when you can do just that.
Traditionally, delivering projects in the financial services sector has involved gaining buy in from multiple departments. Operations, Finance, Marketing and Technology departments may all be involved and each one has a different agenda.
So as an Operations Director, examining the business case for intelligent client communications, is the real ROI best provided by :-
- the ability to communicate to your clients in a more effective manner using the most appropriate channels to maximise the return from each client interaction?
- Or the ability to reduce operational costs associated with client communications?
When you consider that banks have a regulatory requirement to keep their clients informed in a timely manner, for example when interest rates, terms and conditions or tax treatments change, the savings made possible by being able to incorporate this information on a transactional document compared to producing ad hoc mailings or including leaflets that don’t get read becomes clear.
Where it becomes more challenging is in meeting the audit and regulatory requirements of these organisations. Because Transpromo incorporates information from several data streams and departments, this creates additional challenges that need to be solved and in addition, what happens if you need to communicate time sensitive information and the client’s next statement isn’t due until the end of the month?
Transpromo certainly isn’t a direct replacement for all adhoc mail, however if it is implemented to it’s best advantage in an organisation, then maybe the most significant gain may be attributed to quantified operational savings rather than uplift predictions from the marketing department.