Consultancy and BPO Case Studies
Below we have included a variety
of consultancy and BPO case studies which will outline
areas addressed, the solution implemented, the result
and the economic outcome each
client experienced.
FTSE 250 UK
Insurance Company
Our
client recently had a number of compliance projects
in the specific areas of
Broker Risk Reviews, Data
Entry and Data Cleaning functions, with a number of
the projects having deadlines dictated by the
regulators. The projects were scoped, and the
offshore resources trained and the services
delivered within 3 weeks with in excess of a 99%
accuracy level. Concurrently, our client was
implementing a new CRM System and the result is that
onshore resources were freed up to meet other
important deadlines without the need for employing
temporary staff, missing deadlines or having a severe
knock-on effect for other departments.
FTSE 100 UK
Insurance Company
Our client wanted to outsource a number of their
back-office support functions and this was the UK's
1st Third Party Offshore Outsourcing Agreement
within the UK Financial Services sector. The
processes were outsourced to a provider in India and
also Beijing in China. These initial
projects yielded in excess of £5 million annualised
savings for our client. The processes
currently outsourced under this programme include:
-
Accounts Payable
-
Treasury
-
Accounts Receivable
-
Bank Reconciliation
-
HR / Payroll
Top
FTSE 100 UK Bank
Since July 2002, we have been assisting a Leading UK
High Street Bank to outsource its back-office
function to Chennai, a city in the Indian
sub-continent. We implemented the initial pilot
process and then went on to define the pipeline of
opportunities across the bank as a whole. We
supported both UK Operations and the third party
supplier operations in India across the outsourcing
programme in addition to accepting defined
implementation responsibility for a number of
discrete projects which were implemented on time and
budget and yielded in excess of £10 m annualised
savings.
A series of outsourcing opportunities were
considered by the bank as part of a strategy to
reduce cost whilst maintaining and improving quality
e.g. centralisation of activity to improve
efficiency and maintain consistent quality.
The processes currently outsourced under this
programme include:
-
Lending activities
-
Know your customer:
a project initiated to comply with FSA
requirements.
-
Date entry of
Accounting Information.
-
Pre-Payment
processing of International & Domestic payment
requests.
-
Production and
publication of sales and performance management
Information.
-
Audit Letter
requests Account Opening requests
-
Call Centre
Operations
-
End to End Debt
Factoring process
Top
UK Motor Insurer
Magellan are working with a personal lines motor insurer
to identify whether offshore outsourcing is the
right for their organisation. So far this has entailed
facilitating a visit to India for a number of their
key UK executives, to assist them in assessing the
scale of the opportunities available to them.
London
Market Insurance Company
Magellan defined a number of the HR processes for a
London Market insurance company to comply with the
Sarbanes Oxley regulations. An initial
feasibility study was then undertaken to assess the
viability of outsourcing these processes.
Lloyds Syndicate
Magellan are helping a Lloyds Syndicate to develop and an
e-trading platform. In addition, we are
helping them to sanitise their UK IT infrastructure
and decide whether any development can happen from
an off-shore perspective.
