Revolutionizing marketing operations and customer experience for Central Finance CASE STUDY Revolutionizing marketing operations and customer experience for Central Finance Central Finance (CF) is a leading licensed finance company in Sri Lanka founded in 1957, with an asset base exceeding Rs 114 billion and offering a diverse portfolio of services including savings and deposits, loans and advances, credit cards, insurance, and leasing. The company services over 170,000 customers across all regions of the island, from Colombo to Trincomalee and from Jaffna to Matara, via 103 branches and over 1,700 staff. Improve customer satisfaction Agents were able to track customers’ historical data and engagements when responding to inquiries, thereby catering to their needs on a personal level and improving customer satisfaction. Enhance sales team productivity With a 360-degree view of customers, agents were able to keep track of past activities, follow up on leads and grow/convert opportunities, while getting recognized and receiving incentives internally. Increase marketing campaign performance The optimized processes helped generate a higher return on digital marketing investments, create customer loyalty through superior campaign performance, and unlock real-time performance decisions during critical campaign cycles. Streamline business processes By enabling multiple options such as sending notifications to the customer, sending follow-up emails, and passing complaints to higher management, the entire complaint management process became more efficient and user-friendly. THE CHALLENGE Central Finance has multiple systems for different business units; owing to this, customers’ historical data, interactions, engagements, and inquiries from different mediums such as social media, messages, and physical visits were scattered and not connected to a centralized database. As a result, they faced the following issues: Inability to create a seamless customer experience Limited capabilities for targeted promotions Difficulties in measuring team productivity SOLUTION OFFERED Central Finance’s main requirement was to consolidate all existing systems into a centralized platform and streamline processes to get an overall view of its customers. Owing to its BFSI industry experience, technical knowledge, implementation experience, and relationship with the customer, MIT ESP was able to suggest the implementation of Sales Cloud and Service Cloud to integrate all systems, and Oracle Marketing solutions to improve visibility into their customer base and get a unified view of marketing prospects. Implementation of Sales Cloud and Service Cloud The Sales Cloud and Service Cloud solution helped CF to reduce inefficiencies in its processes and to generate more leads and opportunities. In order to integrate all customer touchpoints, MIT ESP recommended implementing Cisco call center integration, which would also allow agents to retrieve all information, past interactions, and past contracts to get a 360-degree view of a customer. Implementation of the Oracle Marketing solution The Oracle Marketing solution helped CF to improve visibility into their customer base and get a unified view of their customers. The Social Relationship Management solution implemented by MIT ESP provided an analytical view of Central Finance’s social media presence and connected all platforms to one solution, which allows them to identify customer preferences and trending topics in order to enhance the customer experience.
Stretchline’s digital transformation with MillenniumIT ESP CASE STUDY Stretchline’s digital transformation with MillenniumIT ESP Stretchline (Pvt) Ltd is the world’s largest narrow fabric manufacturer and the first global brand of elastic. Established in 1996, the company is a three-way joint venture between Stretchline (UK), MAS Holdings (Sri Lanka) and Brandot International Ltd (USA). Stretchline has manufacturing plants in Sri Lanka, China, Indonesia, Mexico, Honduras, the US, and the UK, which are supported by marketing offices in the US, the UK, and Hong Kong, enabling the group to provide needlepoint support to the world’s leading lingerie and activewear brands. A future of digitalization Helped realize Stretchline’s digitalization plan for 2025 – to transition from manual sales order processing to a fully automated system that ensures high accuracy and high production volumes. Employee productivity Enabled significant data entry time savings of 793 hours/month by deploying the RPA solution at one plant, freeing up employees’ time to engage in productive and value-adding activities. Process accuracy Implemented RPA BOTs to optimize the sales order processing system, which reduced delays, ensured high data accuracy, and increased employee productivity. Global expansion Working with Stretchline to expand the project scope and implement the system in other parts of Sri Lanka, as well as in Indonesia and China THE CHALLENGE A key initiative of Stretchline’s Digitization Plan for 2025, was to transition its employees away from non-cognitive work and use automated/software services where it could optimize the overall production process. Stretchline’s requirement was to address delays and errors in the sales order processing system while ensuring high accuracy in data entry and updating systems with high volume traffic. Therefore, the PO process was selected as a starting point as it is the first step of value creation and is critical to ensuring a seamless operation of the entire journey. SOLUTION OFFERED The teams from MIT ESP engaged in several discussions with the sales teams at Stretchline to understand the processes and core pain points to come up with the end-to-end scope of the solution architecture. They implemented RPA BOTs which can accept sales orders from customers and enter them directly into the ERP system. By digitizing the manual process, Stretchline significantly reduced the number of man-hours required for the PO process. The BOT solution also allowed POs to be entered into the system on the same day, minimized human errors while entering the details, and managed a high volume of POs with ease. BUSINESS IMPACT Stretchline was able to incur a significant time saving of 793 hours/month of data entry by deploying the RPA solution at only one plant. They now plan to implement this system in other parts of Sri Lanka and expand to operations in Indonesia and China. By streamlining and standardizing the process across the board, the BOTs also maintained a higher accuracy and freed up the employees’ time to engage in more productive and value-adding activities. The scalability of the overall process and the ability to handle larger volumes were a few additional business outcomes gained by implementing the RPA solution. MIT’s engineering and sales teams’ many years of experience working in the apparel domain allowed them to quickly relate to and address the issues faced by the Stretchline team and they are keen on expanding the project scope with more project optimization and re-engineering in the future.