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Streamlining compliance prequalification for a leading supply chain risk management firm

Streamlining compliance prequalification for a leading supply chain risk management firm

In today’s complex and ever-changing business environment, compliance is more important than ever. Businesses need to ensure that they are in compliance with all applicable regulations in order to protect themselves from costly fines and penalties. One way to achieve this is through compliance prequalification, which is the process of verifying a company’s compliance with specific requirements before entering into a business relationship with them.

A leading supply chain risk management company partnered with Netscribes to achieve its compliance prequalification objectives. Read on to explore how they were able to achieve their compliance goals and enhance business continuity.

Objectives

A leading supply chain risk management company partnered with us to achieve the following compliance prequalification objectives:

  • Comprehensive insurance verification: Verify various insurance types, including general liability, auto, worker comp, pollution, and professional certificates.
  • Enhanced safety compliance verification: Ensure compliance with safety standards by verifying Refinitiv backgrounds, EPA violations, contractor licenses, state permits, OSHA/MSHA records, and safety manual compliance.
  • Improved customer data accuracy: Enhance customer data accuracy through enrichment, validation, and overlap analysis for precise contact information.
  • Seamless customer onboarding and support: Assist customers with portal registration and account updates through inbound and outbound channels.
  • Simplify email support: Manage customer support mailbox and implement quick ticket assignments.
  • Client help desk: Provide responsive and reliable support for all customer-facing needs.

Approach and solution

Comprehensive insurance verification:

  • Verified various insurance types, policy information, policyholder details, clauses, verbiage, and endorsements.
  • Monitored the clearance status of Canadian customers (WCB – Worker Compensation Board).
  • Achieved daily average reviews of 4,200 with a QC sample size of 12%.

Enhanced safety compliance verification:

  • Conducted verifications including Refinitiv background, EPA violation, general contractor license, state license, OSHA/MSHA recordkeeping, and safety manual compliance.
  • Maintained daily average reviews of 2,400.

Seamless customer onboarding and support:

  • Provided customer onboarding through inbound and outbound calls and emails.
  • Offered compliance and general support through outbound calls and emails.
  • Managed daily average calls/emails of 400 with a QC sample size of 12%.

Simplify email support:

  • Efficiently managed customer support mailbox.
  • Implemented quick ticket assignment using CRM tools.
  • Handled daily average emails of 600 with a QC sample size of 12%.

Client help desk:

  • Managed client affiliates’ email support box.
  • Conducted analysis of active customers.
  • Handled escalation management and compliance requirement analysis.

Results delivered

Across the compliance prequalification tasks, the supply chain management collaboration achieved the following business impact, exceeding client expectations:

Insurance verification:

  • Client expectation: TAT – 48 hours | Quality – 98%
  • What we delivered: TAT – 24 to 36 hours | Quality – 99.3%

Safety compliance verification:

  • Client expectation: TAT – 48 hours | Quality – 98%
  • What we Delivered: TAT – 24 to 36 hours | Quality – 99.2%

Customer data accuracy:

  • Client expectation: TAT – Defined by client | Quality – 98%
  • What we delivered: Met set deadlines | Quality – 99.7%

Customer onboarding and support:

  • Client expectation: TAT – 24 hours | Quality – 98%
  • What we delivered: TAT – 24 hours | Quality – 99.5%

Email support:

  • Client expectation: TAT – 48 hours | Quality – 98%
  • What we delivered: TAT – 24 to 36 hours | Quality – 99.3%

Client help desk:

  • Client Expectation: TAT – 24 hours
  • What We Delivered: TAT – 24 hours

Benefit

  • Efficiency gain: The dedicated team members significantly improved efficiency, allowing the client to maintain quicker TAT and handle volume spikes.
    • Utilization – 135%, with +5,500 daily average reviews
    • Consistent QC contributed to achieving +99% quality
  • Consistent performance: Continued efficiency gains with utilization at 159% and +3,500 daily average reviews, while maintaining +99% quality
  • Enhanced customer onboarding: Accurate contact information and compliance support enabled the client to onboard more customers onto its platform
  • Expanded email support: Resources deployed during odd hours improved TAT and supported chats during peak seasons
  • Market expansion: The client successfully entered the Indian market, generating additional revenue by selling and supporting its products and services in India
Leverage the power of end-to-end support and insights to improve business continuity with Netscribes data operations services. Contact us today.
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