Streamlining Service Delivery of Final Duties and Taxes in a Private Banking Corporation

Ellaine Joy  G. Eusebio,

Streamlining Service Delivery of Final Duties and Taxes in a Private Banking Corporation

Discipline: accounting

Abstract:

This paper discusses the actions taken regarding the slow delivery of final duties and taxes in a private banking corporation. The objectives were to eliminate customer complaints and close all the pending transactions to gain customer satisfaction and increase the percentage of clients and transactions served. After observations, a series of interviews, data collection and documentation, and collaboration efforts with the team members involved, the issue was constructed. Various tools were used in planning, constructing, implementing, and evaluating the streamlined process improvement. Process mapping and lean thinking methodology were applied to know which activity should be eliminated. A workflow instruction was formulated, which improved the cycle time. Time and motion analyses were crafted during the implementation to verify each transaction. Pending transactions, follow-ups, and complaints were compared before and after implementation to confirm if the streamlined process improved the service delivery. It was observed that some of the team members were hesitant to change at first, but by using convincing words and data during the team meeting, all members were convinced that streamlining service delivery is a need. After a month of implementation, the record showed that the streamlined process eliminated complaints, reduced follow-up concerns through telephone calls from clients, and decreased pending transactions by 50%. Through this, the relevance of data to support a particular idea is further realized. Furthermore, it was also observed that the streamlined process improvement saved the company time, energy, and even costs. It ensures the fast delivery of products or services, resulting in customer satisfaction.

References:

Coghlan, D., & Brannick, T. (2010). Doing action research in your own organization. (3rd ed.). London: Sage Publications.
Cummings, T. & Worley, C. (2011). Understanding organizational development. Singapore: Cengage Learning Asia Pte Ltd.
Harrington, H.J. (2012). Streamlined process improvement: the breakthrough strategy to reduce costs, improve quality, increase customer satisfaction, and boost profits. New York: McGraw-Hill
Harrington, H.J. (2012). Streamlined Process Improvement Webinar.http://www.qualitydigest.com/inside/quality-insider-news/webinar-h-james-harrington-streamlined-process-improvement.html
Hatzakis, E. D., Nair, S. K., & Pinedo, M. (2010). Operations in financial services: An overview. Production & Operations Management, 19(6), 633-664.
Iacob, A. (2014). Individual antecedents of employee's customer orientation in public services. Proceedings of the International Conference Marketing - From Information to Decision.
Johnston, R., Clark, G., & Shulver, M. (2008). Service operations management: Improving service delivery. Harlow Pearson Education Limited.
Munusamy, J., Chelliah, S., & Mun, H. (2010). Service quality delivery and its impact on customer satisfaction in the banking sector in Malaysia. International Journal of Innovation, Management and Technology, 1(4), 398-404.
Onditi, A., Oginda, M., Ochieng, I., & Oso, W. (2012). Implications of service quality on customer loyalty in the banking sector: A survey of banks in Homabay County, Kenya. International Journal of Business and Social Science, 3(21), 223-233.
Panda, R. K., & Rao Kondasani, R. K. (2014). Assessing customers' perceived service quality in private sector banks in India. Serbian Journal of Management, 9(1), 91-103.
Singh, M. (2014). Good customer service makes the difference!. Journal of Internet Banking & Commerce, 19(2), 1-11.
Swar, B. N. (2012). Managing customers' perceptions and expectations of service delivery in selected banks in Odisha. Vid wat. The Indian Journal of Management, 5(2), 25-33.
Tanwar, S. (2013). Prioritizing service quality attributes: A study of Indian apparel retail stores. Journal of Marketing & Communication, 9(2), 52-61.
Reid, R. D., & Sanders, N. R. (2010). Operations Management: An Integrated Approach. Hoboken. Wiley.