Sparta Systems, the market leader in customer-centric process management software, today announced general availability of TrackWise Customer-Centric Process Management (CCPM) solution for financial services that addresses cross-organizational customer experience improvement initiatives for banks, brokerages and insurance companies.
Sparta Systems, with over 300 successful customer implementations, is an award-winning CCPM provider whose long history in pharmaceutical manufacturing has paved the way for expansion into financial services, an industry beset by many of the same challenges: strict regulations; a very short window in which new customer-facing solutions must be rolled out; heavy industry consolidation; and multi-site/multi-national operations.
"Financial services organizations have come to the realization that providing a positive customer experience is both a strategic and competitive advantage," said Ran J. Flam, president and CEO, Sparta Systems. "The return on investment is enormous, even by just improving customer inquiries and complaint handling, coupled with root-cause-analysis and preventative actions, to increase customer satisfaction and reduce the occurrence of costly settlements. Also, as regulations become more stringent and customer demand for better service from their financial institutions rises, more and more firms will turn to Customer-Centric Process Management to ensure fair, fast and efficient resolution of customer interactions."
The TrackWise CCPM solution is the only enterprise software available today that fully automates compliance tracking, employee qualification and training, opportunity management and account opening with "first contact resolution." Only TrackWise's fully configurable, pre-built processes work seamlessly within any IT infrastructure for the fastest possible deployment.
Providing customers with a consistently superior experience is critical to ensuring loyalty and competitively vying for an increasing share of their financial services needs. While this is a clear strategic goal, actually implementing changes to achieve customer centricity across all channels and product silos in the organization can prove to be a daunting task. Sparta has delivered the only software system that ensures any customer inquiry made via telephone or Web can be resolved quickly and all data associated with these transactions are captured, categorized and logged to continually improve customer service and bolster regulatory compliance efforts. Moreover, TrackWise's intuitive user interface and customizable dashboard ensure that any customer-facing personnel can quickly learn the new software, which is as simple to navigate as common third-party spreadsheet applications.
Additionally, TrackWise's unique 24/7 Business Rules Engine automates and streamlines processes and operations to enforce company business processes, as well as robust roles, access and authorization schema that seamlessly integrates management controls.
According to the August 2007 report Forrester Wave: Human-Centric BPMS for Banking and Investments, Q3, 2007, "vendors should have evolved from templates to frameworks to pre-built processes. Some financial services institutions assert that their processes are so unique that they cannot benefit from a template or framework. Still, experience shows that these tools are key to achieving speed-to-market. Forrester believes that the key to speed-to-market is a combination of a jump-start in process development (from frameworks or pre-built processes) and BPM tools that allow fast and flexible configuration - usually with the runtime logic separate from the business logic."
And with hundreds of successful implementations, TrackWise has proven itself as a field-tested and scalable solution that's both fast to deploy and completely customizable for any customer.
TrackWise CCPM benefits at-a-glance
- Increased operational efficiencies and reduced costs through standardizing, streamlining, measuring and improving business processes
- Enhanced customer service experience and increased loyalty through fast investigation and settlement of any customer issue
- Full compliance with all FDIC/NAIC/FSA(TCF)/FCAC guidelines and recommendations
- Reduced operational risk and simplified training of all relevant staff on roles and processes
- Automated reporting to meet regulatory requirements and increase management visibility
- Customizable levels of management controls and audit information to bolster regulatory compliance
TrackWise for Financial Services is available immediately for all financial services institutions.