By Mark Brousseau
What distinguishes a quality outsourced services provider from the also-rans? According to Nancy Gessmann, senior vice president, Enterprise Solutions, for CDS Global (ngessmann@cds-global.com), a key factor is that they are constantly looking for ways to improve or enhance their clients’ business processes.
“Quality outsource providers understand and embrace the business needs of their customers. They are always on the lookout for value-added services and process improvements to help their clients,” Gessmann tells me. “These providers partner with their clients to become an extension of their business. They also reinvest in themselves and their clients’ processes, in turn, helping to grow the business.”
Gessmann adds that a good outsourcing partner should have at least a high-level understanding of a client’s business and their work processes. “There are some processes that don’t necessarily require an in-depth level of understanding, such as repeatable processes,” she says. “But with the right outsource provider, the outsourced services should be invisible to your customer or your customer’s customer.”
And there will be some business processes that an outsource provider may be better suited to fulfilling than your in-house operations, she said, noting an outsource provider might have advanced technology.
Other attributes Gessmann says companies should look for in an outsourcing partner include:
... Financial stability
... Staff experience and expertise
... Best of breed operational and technology systems
What do you think?
Showing posts with label CDS Global. Show all posts
Showing posts with label CDS Global. Show all posts
Tuesday, September 1, 2009
Tuesday, February 3, 2009
Thinking Outside the Box
By Mark Brousseau
The state of the economy has companies looking to optimize whatever solutions they have in place, according to Susan L. Terry (slterry@cds-global.com), director of business development, new markets and indirect channels, CDS Global, a leading provider of outsourced business solutions.
“Whether the optimization is in the form of supplier change, outsourcing, co-sourcing, service expansion or tighter integration with other phases of the supply chain, every opportunity for process efficiency is being reviewed,” Terry told me. “All options are on the table.”
Terry believes the pace of opportunity for outsourced services providers like CDS Global may slow down over the next 12 months, but the scope of opportunities will continue to grow. “As human beings, and as companies made up of human beings, our creativity is at its best when the status quo is removed,” Terry explained. “We are now managing our businesses in a state without status quo, which will enable creative approaches to solving business problems.”
What do you think? Post your comment below.
The state of the economy has companies looking to optimize whatever solutions they have in place, according to Susan L. Terry (slterry@cds-global.com), director of business development, new markets and indirect channels, CDS Global, a leading provider of outsourced business solutions.
“Whether the optimization is in the form of supplier change, outsourcing, co-sourcing, service expansion or tighter integration with other phases of the supply chain, every opportunity for process efficiency is being reviewed,” Terry told me. “All options are on the table.”
Terry believes the pace of opportunity for outsourced services providers like CDS Global may slow down over the next 12 months, but the scope of opportunities will continue to grow. “As human beings, and as companies made up of human beings, our creativity is at its best when the status quo is removed,” Terry explained. “We are now managing our businesses in a state without status quo, which will enable creative approaches to solving business problems.”
What do you think? Post your comment below.
Wednesday, July 23, 2008
Data Capture Drives Marketing
By Mark Brousseau
Desperate to build stronger, longer lasting relationships with their customers, companies are turning to one-to-one marketing, a customer relationship management (CRM) strategy that emphasizes personalized interactions with customers over mass marketing. And automated data capture can play a key role in ensuring the success of one-to-one marketing initiatives, says Bill Welling, an account director for CDS Global (bwelling@cds-global.com).
While the term itself is fairly new, Welling said one-to-one marketing is really a throwback to the days of the neighborhood store, where the owner made it a point to know your name, your likes and dislikes, your shopping habits and a few other things that made the relationship special, lasting and, yes, profitable. Welling said that as people’s lives become increasingly busy, the cookie cutter, ‘one size fits all’ sales model has quickly become outdated and ineffective.”
“What we are talking about here is Relationships 101,” Welling said. “And data capture helps organizations get at valuable customer information faster and cheaper. Using data capture, a company can know the return address on a customer’s check, who signs the checks – meaning, who likely makes the buying decisions – and the customer’s buying habits.” This type of information can then be used to tailor product offers to customers, he said.
“Data capture is a fact-finding tool that helps ensure that companies are providing the best customer service, in terms of the products they offer,” Welling said. “By capturing key data from customer remittances, companies can position themselves in the best possible light.” And with the move to one-to-one marketing, Welling said this is critical, as companies will increasingly focus on the quality of customer data, rather than the quantity of it.
How is data capture driving your marketing?
Post your comment below.
Desperate to build stronger, longer lasting relationships with their customers, companies are turning to one-to-one marketing, a customer relationship management (CRM) strategy that emphasizes personalized interactions with customers over mass marketing. And automated data capture can play a key role in ensuring the success of one-to-one marketing initiatives, says Bill Welling, an account director for CDS Global (bwelling@cds-global.com).
While the term itself is fairly new, Welling said one-to-one marketing is really a throwback to the days of the neighborhood store, where the owner made it a point to know your name, your likes and dislikes, your shopping habits and a few other things that made the relationship special, lasting and, yes, profitable. Welling said that as people’s lives become increasingly busy, the cookie cutter, ‘one size fits all’ sales model has quickly become outdated and ineffective.”
“What we are talking about here is Relationships 101,” Welling said. “And data capture helps organizations get at valuable customer information faster and cheaper. Using data capture, a company can know the return address on a customer’s check, who signs the checks – meaning, who likely makes the buying decisions – and the customer’s buying habits.” This type of information can then be used to tailor product offers to customers, he said.
“Data capture is a fact-finding tool that helps ensure that companies are providing the best customer service, in terms of the products they offer,” Welling said. “By capturing key data from customer remittances, companies can position themselves in the best possible light.” And with the move to one-to-one marketing, Welling said this is critical, as companies will increasingly focus on the quality of customer data, rather than the quantity of it.
How is data capture driving your marketing?
Post your comment below.
ECP Implementation Tips
By Mark Brousseau
Electronic check presentment (ECP) is becoming an increasingly important part of the lockbox services mix. With electronic clearing, billers can achieve significant benefits when processing their receivables through a lockbox, including reduced deposit fees, faster funds availability, improved collections, later deposit windows, and streamlined returns handling.
But like any other business process change, electronic clearing requires billers to consider the potential operations and customer service impact of implementing the technology, or they might find its benefits to be elusive. That’s according to Lesa Brooks, general manager, Data Capture Services, Western Region for CDS Global (lbrooks@cds-global.com). An early adopter of ECP, CDS Global electronically deposits checks to four major financial institutions on behalf of several dozen lockbox clients, Brooks recently told me.
The first consideration, Brooks said, is ensuring that the biller has the right banking partner. “Billers need to make sure that their bank is experienced with the process,” Brooks said. “Most of the larger banks have teams dedicated to implementing ECP projects. They have the process down pat, and their fees are usually much lower. But we have seen cases where clients have worked with a local bank that is unfamiliar with ECP and it has made the process more confusing. Local banks might also have higher fees since they are working a vacuum.”
And deposit fees are a key consideration, Brooks said. Billers should expect banks to pass along some of the internal cost savings they achieve from electronic clearing. “But fees for ACH conversion, on-us items, check image exchange, and substitute check printing are all over the board, so it’s a good idea to shop around. In general, ECP fees are coming down.”
Billers should also make sure that their lockbox provider is experienced with ECP, Brooks said. Billers need to determine whether their provider allows for the use of multiple banking partners; whether the lockbox provider can handle opt-outs for ACH conversion; and whether the lockbox provider can customize X9 files to allow the deposit record to be marked based on the type of deposit (Check 21, ARC, BOC). “If your lockbox provider isn’t experienced with ECP, and it doesn’t offer flexibility for managing the process, it can add a significant amount of time to development and testing, as well as higher upfront costs,” Brooks said.
Another consideration for billers is whether to use ACH conversion or just Check 21. Depending on the biller’s business, it can be a no-brainer (utilities) or more complicated (non-profits), Brooks said. Once the biller determines it will use ACH conversion, it must consider how to handle customer notification for ARC conversion. Billers must think through what to say (and get the necessary approvals), where to put it, and whether to include a toll-free number for opt-outs. They must also leave time for printing. “Finding the space in customer mailings to put ARC notifications has been the biggest implementation delay, hands down,” Brooks said. Since this notification needs to be made 30 days prior to going live, Brooks said this task should be near the top of a biller’s implementation project list.
Similarly, billers must plan to educate their customer support staff on ECP. “Consumers still have questions about whether their check was cashed,” Brooks said, noting that checks presented via ACH look different on a consumer’s bank statement. “This is an especially big issue for non-profits and direct mail companies.” Customer service reps must understand that converted items might appear in a different location on a consumer’s statement. “We’ve chased our tails researching whether an item was processed, only to discover that the consumer was not looking in the right place on their statement,” she said. As part of their customer service planning, billers should also think through returned item handling.
Have any tips for implementing ECP at the lockbox?
Post your tips below.
Electronic check presentment (ECP) is becoming an increasingly important part of the lockbox services mix. With electronic clearing, billers can achieve significant benefits when processing their receivables through a lockbox, including reduced deposit fees, faster funds availability, improved collections, later deposit windows, and streamlined returns handling.
But like any other business process change, electronic clearing requires billers to consider the potential operations and customer service impact of implementing the technology, or they might find its benefits to be elusive. That’s according to Lesa Brooks, general manager, Data Capture Services, Western Region for CDS Global (lbrooks@cds-global.com). An early adopter of ECP, CDS Global electronically deposits checks to four major financial institutions on behalf of several dozen lockbox clients, Brooks recently told me.
The first consideration, Brooks said, is ensuring that the biller has the right banking partner. “Billers need to make sure that their bank is experienced with the process,” Brooks said. “Most of the larger banks have teams dedicated to implementing ECP projects. They have the process down pat, and their fees are usually much lower. But we have seen cases where clients have worked with a local bank that is unfamiliar with ECP and it has made the process more confusing. Local banks might also have higher fees since they are working a vacuum.”
And deposit fees are a key consideration, Brooks said. Billers should expect banks to pass along some of the internal cost savings they achieve from electronic clearing. “But fees for ACH conversion, on-us items, check image exchange, and substitute check printing are all over the board, so it’s a good idea to shop around. In general, ECP fees are coming down.”
Billers should also make sure that their lockbox provider is experienced with ECP, Brooks said. Billers need to determine whether their provider allows for the use of multiple banking partners; whether the lockbox provider can handle opt-outs for ACH conversion; and whether the lockbox provider can customize X9 files to allow the deposit record to be marked based on the type of deposit (Check 21, ARC, BOC). “If your lockbox provider isn’t experienced with ECP, and it doesn’t offer flexibility for managing the process, it can add a significant amount of time to development and testing, as well as higher upfront costs,” Brooks said.
Another consideration for billers is whether to use ACH conversion or just Check 21. Depending on the biller’s business, it can be a no-brainer (utilities) or more complicated (non-profits), Brooks said. Once the biller determines it will use ACH conversion, it must consider how to handle customer notification for ARC conversion. Billers must think through what to say (and get the necessary approvals), where to put it, and whether to include a toll-free number for opt-outs. They must also leave time for printing. “Finding the space in customer mailings to put ARC notifications has been the biggest implementation delay, hands down,” Brooks said. Since this notification needs to be made 30 days prior to going live, Brooks said this task should be near the top of a biller’s implementation project list.
Similarly, billers must plan to educate their customer support staff on ECP. “Consumers still have questions about whether their check was cashed,” Brooks said, noting that checks presented via ACH look different on a consumer’s bank statement. “This is an especially big issue for non-profits and direct mail companies.” Customer service reps must understand that converted items might appear in a different location on a consumer’s statement. “We’ve chased our tails researching whether an item was processed, only to discover that the consumer was not looking in the right place on their statement,” she said. As part of their customer service planning, billers should also think through returned item handling.
Have any tips for implementing ECP at the lockbox?
Post your tips below.
Subscribe to:
Posts (Atom)
