EbixCash Global Services
A catalyst in BPM revolution redefining success
In the highly competitive space of Business Process Management (BPM) and outsourcing services, EbixCash Global Services (EGS) emerges as a notable player with a transformative impact. As a pioneering player in this industry, EbixCash Global Services has not only embraced but redefined the conventional norms, proving itself as a trailblazer.
At present, the BPM sector is being seen by its intricacies and evolving demands, requiring companies to navigate challenges with agility and innovation. EGS has effectively met these demands by exhibiting a forward-thinking strategy, particularly evident in its proactive client engagement approaches.
In conversation with Dr. Chumki Neogi who is a highly acclaimed professional with years of extensive experience in the BPO sector and currently spearheading the growth of EGS as the CEO, Business Connect dived into various aspects of the company’s model.
The Company Overview
EbixCash Global Services stands as a prominent Business Process Management (BPM) organization, specializing in the outsourcing of Voice Processes (Inbound & Outbound), Knowledge Process Outsourcing (KPO) services and backend support functions. What is worth mentioning is the fact that a substantial portion of their clientele belongs to key sectors such as Banking, Financial Services, and Insurance (BFSI), Non-Banking Financial Companies (NBFCs), Telecom, and e-Commerce.
The company’s journey began in 1989, a time when the concept of Business Process Outsourcing (BPO) was still in its nascent stage in the business world. Since its inception, EGS has played a pivotal role in shaping and contributing to the evolution of outsourcing practices.
In 2019, the company underwent a strategic shift in its operational model, marking a significant milestone in its trajectory. This shift likely reflects an adaptive approach to the changing dynamics of the business environment, showcasing the company’s commitment to staying at the forefront of industry trends and client needs.
The year 2023-24 proved to be pivotal for EGS, witnessing substantial business growth. This growth underscores the company’s resilience, adaptability, and its ability to capitalize on emerging opportunities in the market.
Beyond its commercial success, EGS aspires to be a major contributor to employment opportunities in India. With a focus on becoming a significant employer, the company aims to provide relevant job opportunities to the youth of the nation. This vision aligns with the broader goals of contributing to economic growth and development by fostering meaningful employment prospects.
EGS not only stands as a key player in the BPM domain, delivering outsourcing services to diverse industries, but also reflects a commitment to adaptability, growth and the socio-economic development of the Indian youth.
The USPs
Dr. Neogi as a leader believes in introducing a distinct level of business intelligence into their work process to give the bestin-class results to the clients. She asserts, “We strive to be the growth partner of our clients instead of being the outsourcing vendors. Going extra mile for the growth of our clients is what we believe in.”
EGS prides itself on several distinctive features, setting it apart in the market. One key USP lies in the proactive approach taken to engage with clients autonomously, actively contributing to strategic planning for the future trajectory of their business growth. This forward-thinking strategy provides the company with a competitive edge, positioning it as a partner invested in the long-term success of its clients.
A noteworthy aspect of EGS’s operational model is the hands-on involvement of its leadership in the business process. This proactive engagement ensures a direct and intimate understanding of the company’s operations and client needs. This leadership approach contributes to agility and responsiveness, key elements in a dynamic business environment.
Understanding the pulse of the customer is another pivotal USP for EGS. The company places emphasis on recognizing and acknowledging the customer’s needs and preferences, aiming for an in-depth comprehension of the market. By aligning its services with customer expectations, EGS ensures the delivery of tailored and relevant solutions.
While there might not be a stark differentiation in terms of core services, EGS stands out through the dedication of its senior leadership. The commitment to finding optimal solutions, evolving with industry trends, and keeping pace with the everchanging market dynamics is a testament to the company’s adaptability and resilience.
This commitment to continuous improvement and staying ahead of the curve contributes to the sustained success and growth of EGS in a competitive business landscape.
A case study on creating an impact
When asked to shine some light on how in a transformative real-time instance where EGS demonstrated its prowess, Dr. Neogi revealed a case in revolutionizing the credit card processing system for a major multinational corporation (MNC). The challenge at hand involved a substantial amount of data encompassing in-house customer information, where traditional methods involved deploying manpower to contact customers for product sales.
Upon in-depth analysis, EGS identified a strategic improvement opportunity—shifting the focus from calling customers based on mobile numbers to a more efficient approach based on customer identification numbers. This fundamental shift in the calling process was a game-changer, introducing a significant transformation in the way outbound calls were managed.
To streamline and automate this process, EGS implemented a Voice Bot system. This artificial intelligence-driven solution not only streamlined the outbound calling process but also contributed to a substantial reduction in the need for manual intervention. The voice bot, equipped with advanced analytics, could precisely identify and target customers based on their unique identification numbers, significantly enhancing the accuracy and effectiveness of communication.
The outcomes of this innovative approach were remarkable. The implementation of the voice bot not only optimized the credit card processing system but also led to a remarkable 15% increase in productivity for the MNC. The reduction in manual efforts also translated into a 25% decrease in required manpower, resulting in substantial cost savings for the bank.
Beyond the immediate benefits of efficiency and cost-effectiveness, EGS’s real-time intervention showcased its commitment to delivering cutting-edge solutions that address specific challenges faced by its clients. The success of this transformation not only underscores EGS’s technological capabilities but also highlights its dedication to creating solutions that drive tangible and substantial value for its clients in the dynamic landscape of financial services.
A distinct work culture
As per Dr. Neogi, the culture existing in the company holds immense significance for their success, given their standing as an outsourcing company where the trust factor plays a pivotal role. Consequently, upholding and preserving that trust is deemed imperative to sustain strong client relationships. To achieve this, the leader believes in establishing a foundation of complete trust with her team, a philosophy that aligns with the organization’s employee-centric cultural principles.
As both an organization and a leader, she places a strong emphasis on the power of unity in collective work efforts, fostering collaboration to achieve shared objectives. Throughout the business process, she actively engages with her team, providing support at every step to ensure the successful completion of assigned tasks.
Instituting a culture devoid of bureaucracy has been a deliberate strategy to mitigate the rate of workforce attrition, a critical challenge in the BPO sector. This strategic approach is pivotal in achieving and maintaining the company’s success.
Recognizing that workforce attrition poses a significant challenge in the BPO sector, she is dedicated to minimizing it within her company, understanding its direct impact on overall success. Central to her approach is a commitment to transparency in the work process.
Through her leadership, she has seamlessly integrated transparency into every step of operations, contributing significantly to the organization’s functionality and success. The astute implementation of transparent practices underlines her effective leadership and management style in the dynamic and competitive outsourcing landscape.
The CSR initiatives
When discussing her Corporate Social Responsibility (CSR) endeavors, Dr. Neogi’s focus revolves around compassion and empathy, particularly directed towards individuals who require support in overcoming life’s challenges. Rooted in her own past experiences, wherein she faced various hurdles during her formative years, her altruistic initiatives aim to identify the potential of newcomers and empower them for a brighter future.
Evidence of her pledge could be seen in the skill training program where she has instituted as part of her CSR activities. This program, accessible to her employees at a nominal subscription fee of 200 INR, is designed to facilitate their personal and professional development, focusing on aspects such as personality enhancement and spoken English skills.
The symbolic nature of the fee is intended to instill a sense of commitment and sincerity among participants, encouraging them to perceive the program as a valuable investment in their growth.
This CSR initiative stands out as a sustainable business model that has successfully transformed the lives of thousands. By providing accessible and affordable skill development opportunities, Dr. Neogi’s efforts extend beyond mere charity, reflecting a commitment to creating lasting positive impacts on individuals and society at large.
Through her initiatives, she not only empowers individuals with essential skills but also instills a sense of self-worth and confidence, contributing to the overall well-being and upliftment of the community.
The futuristic outlook
We queried Dr. Neogi about her future aspirations as the leading force of the company. To this she articulated a visionary outlook where she mentioned that they expect the company to not only establish itself as a premier employer in the country but also become a hub for the burgeoning youth seeking meaningful employment with competitive remuneration. The ambition is to create an environment where the youth can secure respectable jobs that align with their skills and aspirations.
In addition to elevating their standing as a top employer, the company envisions expanding its reach globally by venturing into diverse lines of business. The objective is to connect with an increasing number of clients worldwide, diversifying their portfolio and contributing to the growth of the organization on a global scale.
Emphasizing relevance to customers stands as a pivotal focal point in her strategic vision, underlining the commitment to meeting and exceeding customer expectations in an ever-evolving business landscape.
This forward-looking approach underscores the company’s dedication to not only providing excellent employment opportunities but also maintaining a clientcentric ethos that positions them as a key player in their respective industry.
