The Doculabs Customer Service Solution uses our proven proprietary method, enhanced with process mining from Celonis, to improve the customer experience by decreasing the time it takes to complete a change to an account.  

Customer re-registrations happen for many reasons – divorce, or, more happily, marriage, for example. Regardless of the reason, the faster you can respond to customers and walk them through the process, the happier they will be. From a customer retention standpoint, especially for wealth retention, speed and communication throughout the process is key. 

That’s where the Doculabs Customer Service App comes in. Based on decades of financial industry knowledge, we can help you drill down into specific life events to identify bottlenecks and key KPIs, such as time to first contact or NIGO and retention ratios.  

Our app will help you achieve three customer-centric goals:
  • Reduce the time it takes to complete a change to an account
  • Streamline the re-registration process when additional information is required
  • Improve customer experience and asset retention 

Once identified, you can then allocate resources to eliminate the bottlenecks your customers are facing.  

The Doculabs Customer Service Solution combines our decades of benchmark data and experience with Celonis process mining to provide you with automated insights into your current processes and a path forward in reaching your migration goals, saving time and costs in your migration efforts.   

For many companies, current processes are not well understood, seldom documented, and often those that created the process are gone. The speed to understand your current state, ability to identify common patterns in cross-divisional customer experiences for standardization, and the ability to apply automation to the migration are critical success factors for any migration project.   

Our solution uses process mining to:  

  • Automate the discovery of as-is processes, reducing the manual effort and time invested to diagnosing current state processes
  • Compare old and new processes to determine the resulting impact on cost and value  
  • Auto-generate BPMN maps to facilitate rapid movement to the target environment  
  • Accelerate Compliance sign-off on migrated processes  

Solution Benefits 

The Doculabs Customer Service– Account Reregistration Solution allows you to analyze and maximize KPIs critical to completing the change account process:  

  • Automation Levels: How many of the steps can be completed without human intervention (often referred to as “straight-through processing”)  
  • NIGO Rates: The number of transactions that become “not in good order” at some point in the process  
  • End-to-End Cycle Time: The elapsed time from the customer initiating a request to when the change has been completed  
  • Time to First Touch:  A critical step early in the process is the latency between the request and when a work item is first touched by a processing agent 
  • Customer Satisfaction / Net Promotor Score: The customer satisfaction levels, as measured by NPS  
  • Asset Retention: In the case of a death and estate settlement (account closure), the % of assets that remain with the firm within one year.   

How It Works 

Analyze your current state processes instantly:  

  • Thresholds based on best-in-class pre-built analysis indicate what is acceptable across critical KPIs.  

Identify problems and bottlenecks quickly: 

  • Assign additional resources or re-route work to appropriate teams 
  • Our proprietary formula embedded in our Health Index tool provides instant insights into how efficient, effective, and important a process is to your business  

Empower organizations with a smarter, faster, and more cost-effective solution to ensure asset retention: 

  • Customer satisfaction data (Net Promoter Scores) is integrated into historical analysis to identify patterns and opportunities for process improvements 

 

There's a quick way to improve the customer experience. Let Doculabs show you how.