Finnovation

                      Streamlined Daily Business Processes

Industry

Accounting

Business and IT Challenges

• Customer Database Management: Customer data was not up to date and not accessible by team members.
• Contract Renewal Management: Contract due dates were not tracked closely and the company had a tendency to overlook which customers had to renew the contracts, which resulted in the loss in ongoing revenue from overdue contracts.
• Payment Management: Outstanding payment was not followed up, which led to long lead time in collecting payment.
• Resource Management: Finnovation Pte Ltd has to ensure all deadlines set by various Singapore government agencies are met in a timely manner for each of their customer. They need a tool to plan their time and resources so that they can visually see if they are on schedule.
• Customer Communication Management: Each of their team member’s mail box was full with e-mails from customers with attachments every day. This made it extremely time consuming in gathering documents needed for each project assigned by the customer.

Immediate Needs

• Customer Database Component
• Contract Renewal Tracker
• Outstanding Payment Tracker
• Deadline Tracker
• Customer Collaboration Platform Component

Outcome

Efficiency

With the adoption of the cloud solution KUMO Enterprise Integration Platform, together with the implementation of best practices built-in each component, Finnovation Pte Ltd has achieved the monthly milestones it sets out.

Customer data is up to date. Contracts are recorded in the system and customers are reminded to renew their contracts. The visibility prevents the financial loss from uncollected ongoing revenue and overdue payment. Time and human resource are managed much better as the company can always plan ahead and place resources on projects which need more attention or have higher priorities.

All department across the company has experienced significant efficiency through the methodical processes of:

• Monitoring
• Tracking
• Reporting
• Controlling

 Mobility

Prior to using the Customer Database component, all customer data is kept in an Excel spreadsheet which is not up to date. The integrity of the data stored in that spreadsheet is compromised as there is no record of who updated what on what date and time. The cloud based Customer Database component has made it readily available for any member who needs to get access to our customer database. No longer do team members have to get back to their office, log on to their local computers just to pull up a piece of information customers are asking for. Now they can get access to the customer database anywhere anytime and provide customers with the information in a timely manner. The audit trail retains records of the changes made, which enables Supervisors to trace back to the previous steps easily.

 Communication

The Customer Collaboration Platform Component enables smooth and accurate communications between Finnovation Pte Ltd and their customers throughout each project. No longer do they waste time on e-mailing one another to ask for bits and pieces of documents or digging through hundreds of e-mails to find the e-mail which contains the information they need. Customers can share the documents they need to provide Finnovation Pte Ltd easily without attaching files to e-mails and realizing that their e-mails never reach the recipients. At the same time Finnovation Pte Ltd can present the reports and/ or final work to their customers much more conveniently through the Customer Collaboration Platform Component. All the information they need for each project is stored in a well-organized manner in each customer environment.

Customer Satisfaction

One of the advantages that Finnovation Pte Ltd Managing Director, Roger Fok, likes the most about KUMO is that KUMO is so lightweight that it took only days to have the system up and running and they do not need an IT Department to maintain the system. “The system roll out process is such a pleasant experience. It has been set up so fast that we have to catch up in terms of feeding data into the system. KUMO has truly been a useful productivity tool for our company with its tracking system. The built in business processes have cut down a lot of our manual processes and reduced the errors due to manual entries from hard copies to digital format. Before implementing KUMO, we tend to procrastinate certain sales and admin tasks because we do not have the time to pay attention to them. With our business processes streamlined we can focus on serving our customers better and creating a more professional image to them. More importantly, it has helped us reduce the number of hard copy documents which our customers send to our office on a monthly basis. Our office used to be flooded and cluttered with stacks of papers provided by our customers. We used to spend hours looking for bits and pieces of information among those piles of documents. With the digitized processes, the office becomes tidier and we can locate the information we are looking for much faster”, remarked Roger.

KUMO has improved the overall welfare of Finnovation Pte Ltd because of the scientific and methodical implementation.