Mr. Hemal Gandhi
Head - Customer Care, NJ Group
Hemal is the head of NJ Customer Care. He is a qualified Chartered Accountant and is associated with NJ since 5+ years. He is responsible for day to day operations at NJCC and has a result oriented and focused approach in getting things done on the ground level.
In this interview, he has exhibited how his department has brought about changes to support partners. Also he shared some statistics on trends of transactions & queries for the last two financial years.
1. Please share the kind of queries and requests that you often receive at NJ CC and how you have worked towards automation in handling everyday requests and queries?
Hemal: We receive certain routine transaction related queries and requests such as: Transaction not reflected, SIP related,Redemption amount received, Discrimination in Account statement. Apart from this the major calls received at NJCC is for information related to particulr case and I would like to share major call nature along with specific remarks which would help partners to look at the data available at desk, which would reduce dependency to call anyone.
Below table provides details on Top 7 cases related to E-Wealth A/ c and 3 cases related to physical transaction for which we think that partner should avoid calling at customer care because a solution for such cases is already available at their disposal.
We have taken steps to eliminate redundancy by automating the process.
We had introduced the IVRS technology which solves the routine queries and there by eliminating call waiting time. Automation in query posting module so that partner can get the details on the spot.
We would suggest that the partner should make use of these resources for his usual questions and requests, thus saving a lot of his time and efforts.
2. Can you share some statistics on queries/requests received between physical and on-line mode of transactions?
Hemal: Yes, the following table shows how the on-line mode is effective and can reduce the number of queries.
You can see from the above table that how the number of queries has reduced drastically in case of on-line/exchange mode compared to physical/ Non Exchange mode. There are 40% less chances to have a query/transaction in online mode compared to physical mode.
The table depicts that the number of queries received in online mode is significantly lower than that of physical mode for the same number of transactions.
Due to automation, the number of queries has remarkably came down. Below table represents statistics for FY 17-18 in terms of transactions(per minute basis) and trend of queries per 1,00,000 transactions.
We have witnessed y-o-y growth in both trxn modes but there was a singnificant increase in online mode in last 2 years and this reflects the adoption NJ E-Wealth A/c and increase in usage of the same.
Now as far as queries are concerned, we have witnessed reduction in receiving queries in both trxn modes. This is the result of initiatives we have taken in the recent years, like providing information on online desks and apps which support partners in their day to day operations. The trend of queries per 100,000 transactions for the both t he modes witnessed a reduction y-o-y. As per our internal research we can say that there is a increase in the number of transactions in online mode and against that the number of queries has reduced dramatically.
3. NJ CC recently launched the IVRS solution for Partners. How has been the response so far and how has been the impact?
Hemal: IVRS is a robotic system which is made available to partner 24*7 on 0261-3985000. It has been obsevred that the usage of IVRS automation has been increasing day by day and we urge partners to go through the attached file having details of facilities available at IVRS as well shortcut keys so that they can directly access to the required path.
We have also updated the shortcut on partner desk so that the same can be provided to their employee or cient which will be ease for them to direct access of specific requirement they have without even listing to the play of IVRS.
Resources:
IVRS Communication | Detail Guidelines & Shortcut Key | Reset TPIN From Partner Desk & From EW A/c
4. Clearly there is a huge decline in the number of queries received in the on-line mode vs. physical mode. Can you highlight the areas/queries which have considerably benefited through the online mode?
Hemal: It is a fact that number of queries have significantly reduced as more and more partners have started opting for E-Wealth Account. The benefits of online mode are immense. For physical mode, there are end number of queries that we were receiving. ARN correction, Form filling mistake, Data entry error, signature mismatch, etc. are the common errors.
Going online has many benefits. The Partner receives mail communication for each and every transaction with status and reason. There is a transaction report on Partner Desk to track each transaction, clients having E-Wealth A/c can register queries directly with CC. This saves lot of time and efforts of the Partner.
5. What new developments undertook at NJCC in the last one year?
Hemal: As far as new developments are concerned, there are many things we have done to support the partner in terms of reducing their dependency on the CC in the last one year.
- EWA deactivation reason report on partner desk under ewealth account status report.
- GST invoice status report to track GST re-imbursement at invoice level
- Trxn confirmation statement to include period option
- Aadhaar pending report at RTA level
- Probable Hold time play in CC
- SMS for login details to partner/client for EWA and PD
- Query read/unread option in query posting module – Based on feedback from suggestion box
- SMS update for query execution which will have investor name
6. Anything which you would like to share with our Partners?
Hemal: I would like to convey to all Partners through this interview that 'catch the digital revolution which has practically engulfed the country and particularly in the Financial Service Industry'. Be a part of the change and avail maximum benefits of it. I would suggest that each and every partner should convert all client accounts into online mode by opening NJ E-Wealth A/c.
Further, I would also like to highlight that we are in receipt of many feedback from partners that calls are remain in queue for long time, While we are constantly monitoring and working towards the same, in last 2 months there has been a drastic improvement of call queue ratio compared to previous months. However, I would like to share that the multiple reports as mentioned above in Q1 would solve majority of queries/requirements of partners and would urge all the partners to have maximise usage of reports and data available on desk
Also I strongly believe that usage of query posting module on desk(s) would resolve many queries of partner on the spot and there is no need to call or wait for working hours of NJCC. We have also received a good amount of suggestion for query posting module and many of those are already implemented.
7. How can Partners make effective use of NJ CC to improve their customer service standards?
Hemal: At NJ CC, we endeavor to help Partners establish and maintain high level of service standards by outsourcing query/complaint management to us. Hence, we strongly recommend that all Partners post their queries to NJ CC and not depend on the Relationship Manager / Branch Manager or local RTA or AMC.
There are several advantages of doing this...
- Queries are well recorded
- Queries will be handled in a proper manner for efficient resolution
- Queries will be resolved in a timely manner within TAT
- Query status can be tracked
- Save time & energy by avoiding repeated follow-ups
Similarly, by not submitting the queries to NJ CC, the Partners run the risk of delays/unsatisfactory resolution of queries, queries being forgotten altogether, etc. Effective use of NJ CC can help Partners in reducing their operational burdens and improving customer satisfaction levels.
Feedback is received from partners that calls are remain in queue for long time, to avoid this we urge all the partners to have maximise usage of reports and data available on desk
Also we want that partners should use query posting module on desk(s) as well automation facilities so that they can get benefits of information/data which are readily available while posting the query.