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CASE STUDY 3
TASK There are four solutions which the directors of the bank are considering: 1. The call centers could be kept in-house 2. The call centers could be outsourced to a company based in south Africa 3. The call centers could be outsourced to a company based in Scotland 4. The call centers could be outsourced to a company based in india Problem Solutions First option: one of the solutions is to keep call centers in their current locations in South England and reduce costs by using more part-time workers, reducing working hours of business centers and enhancing productivity by increasing the ratio of calls returned per hour. Estimated cost of running the call centers for the next five years is ₤16 Million. Estimated savings by introduction changes are above ₤3 Million with actual costs being equal up to ₤13 Million. The price is really high for our ccost-cutting policy. There are three positive parts of this solution: 1. Current employees in call centers are ready to provide the customers with personal approach as they have been acquainted with each other for a long time 2. Current employees know the operations and transactions inside out and, therefore, do not need intensive training 3. South-English workers show that Auric Bank is an English Bank and, therefore, reinforce the bank's closeness to its customers Second option: another way is to out source services of call-centers to a company based in south Africa. Resources pic is a company based in Cape Town. Calculations show us that cost of the contract withresources pic to run call centers for the next five years is ₤8 million. This firm has an excellent reputation for its reliability and good service, and that is a crucial aspect because one of the priorities is banking sphere is the quality of customer service. Moreover resources pic has a lot of experience in running this kind of centers. We must take into consideration that resources pic offers good balance of costs and quality of service. It is expected that they will manage call centers more efficiently. The staff will be trained to provide the bank with new products and services at much lower costs than the UK centers and will undoubtedly conduct business very professionally.
A compendium of Research Papers
Journal of Database Marketing & Customer Strategy Management
Call centres (or telephone ‘contact centres’) of various kinds have become an increasing fact of life for many people in Europe, North America and other developed economies. Although telephone contact centres may be dated back to the 1960s and 1970s in the US, their intrusion into the lives of British and US consumers has grown exponentially since the 1980s. Since the early 2000s, however, a significant number of call centre operations have been outsourced to such destinations as India and the Philippines, thereby raising a number of issues relating to language and globalisation and the politics of English as an international language.
Brookings Trade Forum
European J. of International Management
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Auric Bank is a modern British bank that cares about its customers. Business at Auric Bank is constantly reviewed in order to provide customers with excellent service at competitive prices. The objective of this business report is to scrutinize different solutions to the two issues Auric Bank is currently facing. One of them is customer service improvement and the second one involves implementing a policy which will cut the bank’s costs and at the same time will boost its profits and share price.
As a part of the major reorganization a look has to be taken at the cost of customer service since Auric Bank generated a loss of approximately £1.5 billion in 2011 by investing in unprofitable areas of business. Since that time the bank has carried out a major review of its operations the main points of which are: 1. Customers believe Auric Bank is charging too much for its services 2. Auric Bank no longer has the image of a ‘caring´ bank that is close to its customers and understands their needs 3.
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The bank needs to reduce costs to increase profits and price per share Today Auric Bank has 2,500 employees working in three call centers located in different cities in South England. There are four solutions which the directors of the bank are considering:
1. The call centers could be kept in-house 2. The call centers could be outsourced to a Company based in South Africa 3. The call centers could be outsourced to a Company based in Scotland 4. The call centers could be outsourced to a Company based in India
PROBLEM SOLUTIONS First option One of the solutions is to keep call centers in their current locations in South England and reduce costs by using more part-time workers, reducing working hours of business centers and enhancing productivity by increasing the ratio of calls returned per hour.
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Estimated cost of running the call centers for the next five years is £16 million. Estimated savings by introducing changes are above £3 million with actual costs being equal up to £13 million. The price is really high for our cost-cutting policy. There are three positive parts of this solution:
1. Current employees in call-centers are ready to provide the customers with personal approach as they have been acquainted with each other for a long time 2. Current employees know the operations and transactions inside out and, therefore, do not need intensive training 3. South-English workers show that Auric Bank is an English bank and, therefore, reinforce the bank’s closeness to its customers Second option
Another way is to outsource services of call-centers to a company based in South Africa. Resource Plc is a company based in Cape Town. Calculations show us that cost of the contract with Resource Plc to run call centers for the next five years is £8 million. This firm has an excellent reputation for its reliability and good service, and that is a crucial aspect because one of the priorities in banking sphere is the quality of customer service. Moreover Resource Plc has a lot of experience in running this kind of centers. We must take into consideration that Resource Plc offers good balance of costs and quality of service. It is expected that they will manage call centers more efficiently. The staff will be trained to provide the bank with new products and services at much lower costs than the UK centers and will undoubtedly conduct business very professionally.
Third possible solution could be outsourcing the call center to a Scottish company Orion Plc. Estimated cost of running the call centers for five years is £10 million. The positive part of this company is that it is a new firm with young, energetic managers, which can work almost restlessly. Second advantage is that they have several contacts with big companies; this means that these companies trust them. Also they are experienced in running call centers that will help to avoid confusion during work. However, there also are setbacks such as complaints of the customers about telephone lines being always busy, which does not indicate a high productivity level. Contracts with big companies can undermine the reputation and performance of our collaboration. Price of contract with Orion Plc is not relatively low, but quality of their service is not enough for this price.
Last solution is to outsource the call centers to an Indian company that is based in Bangalore. X-source India is a fast growing company that has contracts with several large US companies. This means that it does not have problems with hiring employees and operating with low costs. An estimated cost of the contract with X-source India over the next five years is £5,5 million. We must take into consideration that a lot of US companies perform cost-cutting policy through Indian outsourcing call centers. Indian employees have good qualification because the majority of them are university graduates. Indian management will provide fast and effective service and price of the contract is very low.
RECOMMENDATIONS We understand that Auric Bank is the English bank, and if directors decide to relocate call centers abroad they will have some problems with laying off 2,500 employees. This fact will negatively affect the reputation of Auric Bank and of course labor unions will be against this action. Quality of service might not stay on the same level abroad, however, keeping call centers in England is too expensive. Taking all facts into consideration I would advise to relocate the call centers of Auric Bank abroad.
Scottish and Indian companies have been servicing a lot of big clients. This fact, their serious commitment, can affect the quality of their services provided to other customers in a negative way. The call centers had better not be kept in-house because it is a very expensive solution that will not let AB focus on developing parts of business. Therefore I suggest moving call centers to South Africa and collaborating with Resource Plc. The offer of this company represents an appropriate price-to-quality ratio. If AB cooperates with the South African company it will achieve its goals: reduce operation costs, increase quality of services and get customer loyalty.
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BUSINESS REPORT - JAN 2012BUSINESS REVIEW CUSTOMER SERVICESReview on possible options with recommendations to the Board of Management on costcutting and efficiency enhancements by reviewing call-centre options for Auric Bank
BUSINESS REPORTBUSINESS REVIEW CUSTOMER SERVICESExecutive summary: The task of this business report is to review different options on how to improve the quality of customer services at Auric Bank while still following the policy of cost-cutting in order to meet the investors needs. It comments on the different options concerning the location of the call centres, which on the one hand set the benchmark regarding customer satisfaction and loyalty and on the other hand cost cuts.
Introduction: Business at Auric Bank is constantly reviewed in order to provide customers with excellent service at competitive prices. As part of the major reorganization a look has to be taken at the cost of customer services since AB has generated a loss of approximately 1.5 billion in 2011 by investing in unprofitable areas of business. A business review on our operations carried out by McKinsey & Company comes to the following conclusions: 1. 2. Customers believe AB is charging too much for its services. AB has no longer the image of a caring bank which is close to its customers and understands their needs. The bank needs to reduce costs to boost its profits and share price.
In a joint resolution of the executive board the Department of Sales and Services has been instructed to review different options to win back the customer loyalty yet pursuing the goal of cost reductions. In the meeting of the Sales & Services project team a number of options to accomplish these objectives have been discussed. The team has come to the conclusion that four different options concerning the location of our three call centres located in the South of England with their 2,500 employees have to be taken into consideration. 1. The call centres could be kept in-house. 2. The call centres could be outsourced to a Company based in South Africa. 3. The call centres could be outsourced to a Company based in Scotland. 4. The call centres could be outsourced to a Company based in India.
Findings: One possible solution to opt for is keeping the call centres in the present locations but try and reduce costs by y y y using more part-time employees, reducing the hours of business of the centres and increasing the targets for the number of calls handled per hour.
The estimated costs of running the centres for the next five years amount to a total of 16 million. The estimated savings by the changes introduced above would be 3 million which totals the actual costs to 13 million. What militates for this option is the present staff in the call centres: firstly they are capable of giving the customers personal advice since they have known them for a long period of time; secondly The know the banks products and services inside out and do therefore not need intensive trainings; thirdly the South-English employees show that Auric Bank is an English bank and hence state the banks closeness to its customers. Another option would be outsourcing the call centres to the South African company Resource Plc. This would mean using the Cape Town firm as location for and operator of the centres. y y The firm has an excellent reputation for its reliability and good services and is traceably highly experienced in running international call centres.
The estimated costs of running the centres with Resource Plc as a contractor for the next five years amount to a total of 8 million. What has to be taken into account for this option is the fact that Resource Plc offers good value for money. It is to be expected that they will manage the call centres most efficiently. The staff will be trained to sell the Banks new products and services at much lower costs than the British centres and is sure to act extremely professional. The staff have telephone voice training and speak English as their mother tongue. A third possible solution could be outsourcing the call centres to the Scottish-based company Orion Plc. Pros for this firm are that y y y it is an aspiring start-up with young and eager managers it has several contracts with big companies already it is experienced in running call centres.
The estimated costs of running the centres with Orion Plc as a contractor for the next five years amount to a total of 10 million. Arguments for this option are that the costs of the contract are reasonable, there are many skilled workers in the area which would make good public relations for Auric Bank by creating new jobs for them. Last but not least data protection would not be an issue with that firm.
The last deliberation would be outsourcing the call centres to X-source India, a company based in Bangalore. This would mean y y y y relying on a fast growing company that has contracts with several large US companies that has no problems hiring staff and operates at low costs.
The estimated costs of running the centres with Orion Plc as a contractor for the next five years amount to a total of 5.5 million. What has to be taken into account for this option is that many American firms have successfully been cutting costs by outsourcing services to India. Indian employees are highly skilled hence they are mostly university graduates. The Indian management guarantees the maintenance of a fast and efficient service and the costs of the contract are very low for India is a low-wage country. Conclusions: Taking all the pros and cons into account the following can be said: What speaks against relocating the call centres is that the unions might rebel against the move and cause trouble. Reducing the hours of business at the English location does at the first sight not seem a very good idea either, since the unions might object to it as well as the customers. The quality of service could possibly not keep its high standards and there might occur an issue with data protection. Otherwise keeping the call centres in Britain is very costly and is opposed to the issue of cost cutting.
Recommendations: Taking everything into consideration we have come to the conclusion that call centres should be moved abroad. Since Scottish and Indian companies have taken on too much business and therefore there may be problems getting through these countries are not an option. Furthermore running the call centres in-house is time-consuming and distracts the bank from developing its main business. We therefore recommend outsourcing the business to the South African Company Resource Plc, concentrating on developing the main business and using some of the substantial savings to start an image campaign forming a positive market image for the British customers.
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Auric Bank’s Call Center Issue and Recommendations Essay
Owing to the huge losses suffered by our bank in the last financial year, it has been proposed that certain measures be taken to ensure our future profitability. These changes include the reduction in the cost of services for our customers believe that our bank is charging too much. Our bank has also lost its image as a “caring” bank to the customer; measures should therefore be taken to ensure that the customers once more perceive Auric Bank as an understanding and caring bank.
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It has been proposed that the bank’s cost of operations should be reduced so as to boost profits and share prices. The issue of our call center location has been seen as the key to making the proposed changes a reality. In this report, I shall give a brief summary of the four proposed options and make recommendations as to the option that I believe is the most feasible for the bank to achieve its goals of customer satisfaction and increased profitability.
The first option is to keep the call centers at their present locations but tries to reduce the costs by employing more part-time employees and reducing the hours of business at the centers. The number of calls handled per hour is also to be increased. While this option will lead to a saving of €3 million in the next five years, the option might actually lead to a propagation of some of the current problems. The proposed use of part-time employees will lead to more inefficiency due to lack of experience. An increase in hourly targets will lead to the brisk treatment of customers, and this will lead to a rise in customer perception of the bank as uncaring.
The second option is the outsourcing of calls to Resource Plc, a South African firm reputed for reliability and good service. This move will save the organization an estimated €8 million in the next five years. This move will lead to a decrease in the cost of running the call center, thus increasing the company’s profitability. In addition to this, the Cape Town-based firm is hailed to have a lot of experience and one can therefore expect them to treat the customers amicably.
The third proposed option is to outsource to Orion Plc, a Scottish based firm. While the firm is relatively new and has young managers, it has several contracts with big companies. The company also has experience in running the call centers. However, there have been incidents of customers complaining in the newspapers about the lines always being busy. While outsourcing with this company will cost Auric bank €10 leading to a €6 million saving in the next five years, the delay in customer service provision by the organization may lead to losses since the customers will perceive our bank as being inefficient and uncaring.
The fourth option involves eliciting the services of X-source India, a company based in Bangalore. This company is said to be fast expanding and has contracts with several large US companies. It has a high number of staff and its costs are low. Using this company will only cost Auric Bank %5.5 million which is nearly a third of the bank’s current running cost.
In my opinion, outsourcing the call center services to X-source India is the most beneficial move for the bank. This is because this option proposes to solve all three problems that the organization currently faces. Owing to the low costs that X-source charges, we can reduce the costs to our customers. In addition to this, the large number of staff employed by X-source will lead to timely service provision therefore restoring the bank’s images as a “caring” bank to the customers.
Considering that the cost of running the call centers will be a mere third of the current costs over five years using X-source, the bank will be able to boost its profit thus raising its share price for the benefit of all the shareholders.
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- Call centre
Last Updated 06 Jul 2020
Report by Michal Bodnar and team on Auric Bank Performance on 11 April, 2013 1. Introduction The aim of the report is to overview the company performance of Auric Bank and to consider options how to manage its declining customer satisfaction and increasing costs. As members of a team of workers from an outside Consultancy company, we were authorized to write this report by the management of Auric Bank. The report is based on our research about bank and the options outlined by the Chief Executive of the Auric Bank.
This report concludes with our conclusions on the best option for the bank as well as with some recommendations how to improve customer satisfaction and decline the costs. 2. Findings 1. Background information The following points summarize our key findings. The company under study is Auric Bank which experienced significant loss last year due to unprofitable investments that reached ? 1. 5 billion. The bank reviewed its operation and found out that consumers think that the bank is charging them too much for their services and the bank does not care enough and does not understand their customers’ needs anymore.
The review concluded that the bank should reduce costs to increase its profits and share price. As a part of a major reorganization of their business, the Auric Bank is reviewing several options how to change the services they are providing to their customers. They are mainly looking at cutting costs and increasing efficiency of their call centers. Currently the bank has three call centers in South England and headquarters in London with approximately 2,500 employers.
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The bank is considering four options for the reorganization of their call centers: • Keep the call centers as they are but increasing their productivity, cutting back business hours and employing more part-time workers • Outsource the call centers to a South African company Resource Plc. with excellent recommendations which will cut the costs in half for the next five years compared to the first option • Outsource the call centers to a young company Orion Plc. from Scotland which may save ? 6 million in next five years in comparison to the first ption • Outsource the call center to a fast growing company X-Source India based in Bangalore with large labor pool which may cut the cost for ? 10. 5 million in next five years 2. Comparative Analysis Based on the data from the Auric Bank it was found that in comparison to year 2011 the costs of the call centers have been raising throughout the whole year 2012. While the rise was milder in the first seven months it became higher during the rest of the year and in December the costs were more than double compared to year 2011.
During the second half of the year a rise in costs occurred although in the same part of the previous year Auric Bank experienced a moderate drop in costs of the call centers. In December 2012 it peaked at almost ? 450 thousand compared to almost ? 200 thousand in December 2011. Reviewing all the materials concerning call centers of the Auric Bank we found that the rise in the costs of the call centers was mainly due to the rise of the customer dissatisfaction and therefore more calls to the call centers which increased costs of their operation.
The slight rise of the costs from the beginning of the year can be attributed to the change in the regulations connected to the labor code which increased the costs of the workforce. 3. Conclusions It is clear from the Findings that the Auric Bank can decide on several options when it comes to restructuring the operation of their call centers. We agreed that in addition to the decision on the call centers the Auric Bank should also work on its communication and presentation to the customers, as the increase in the customer satisfaction can clearly contribute to the decline in the costs for the operation of that call centers.
Together with this we felt that the Auric Bank should decide to outsource the call centers to the Scottish company Orion Plc. There are a number of reasons for this. Above all we think it is not necessary to move the call centers overseas and the reduction in costs offered by Orion Plc. is sufficient. Moreover, the jobs will stay within the country which may positively affect the perception of the bank by the customers. In addition, this option does not represent any additional costs for moving the perations overseas. 4. Recommendations It is suggested that the Auric Bank takes the following steps in order to improve its performance: • Lower the costs and increase the efficiency of the call centers through outsourcing the services from the Scottish company Orion Plc. • Prepare an image campaign to improve the perception of the bank by its customers • Start lobbying at the government for more favorable employment policy with the argument of moving the jobs overseas
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