With digital transformation constantly and consistently changing the way banks operate, the need for speed has never been greater. If you’re not fast enough, by the time you've installed a new system you're already behind again.
That’s where EXUS has the definitive edge. Our solutions can be deployed with lightning speed and 100% accuracy thanks to our Rapid Deployment Methodology. Indeed Colin Dinn, CTO of Siam Commercial Bank (SCB) was so impressed by the service that he referred to it as “The cleanest implementation” he’d ever seen.
Below, we’ll be delving deep into that methodology and exploring exactly how and why the EXUS Financial Suite has changed the game for companies like SCB when it comes to delivering the fastest and cleanest debt collection software deployment.
The Stages of Implementation
We base our rapid deployment methodology on the project planning phases of the PMI (Project Management Institute). This means always starting with project annunciation and leading through internal planning procedures before final project execution. With this execution, we receive requirements from the client and translate them through various iterations until we reach a stage we refer to as the parameterisation of the system - expressing the results in terms of parameters.
The analysis phase is perhaps the most important part of the execution, but we also rely on a development phase to customise the system to client requests. However, we do try to keep development minimal. The execution also includes numerous testing phases - SIT system integration testing, UAT user acceptance testing and more preparation elements before we ‘go live’. Once the project is live, we move on to the monitoring phase, which carries on throughout project execution and includes weekly project updates with the client.
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The final stage of implementation is project closure, which is not as simple as shutting everything down - it’s all about the lessons we’ve learned, what we could do better next time. To put it simply, we’re quick. But we believe we can be quicker.
This process is the EFS Rapid Deployment Methodology in a nutshell - a standardised checklist of project phases and approaches that ensure every project works like clockwork using the same specific tools, templates and methods. This results in a consistency, accuracy and speed that our competitors simply cannot match.
How long does deployment take? It generally varies depending on the size of the project and what the client wants. Our standard project, however, is around five months, and it can be tailored to the client’s exact needs and timeline restrictions.
There are a number of teams heavily involved in any EXUS installation - the marketing, business development and sales team, the delivery team, the product team and quality assurance (QA). Every project starts at the top, with project leaders going through all of the contractual and demo phases with the client before moving on to the real nitty-gritty.
The sales team is generally the first point of contact for prospective clients. They send a description of the services required to the product team, who are in turn able to add product-specific features to the EXUS Financial Suite, if desired. The product team is the team that actually develops the system, but they also get involved throughout the product’s implementation cycle and are particularly helpful when we need another level of support or more specific development tools.
Then the delivery team steps in. This team consists of project managers, business analysts and technical analysts. Project managers are responsible for communication, finances and making sure that targets are being met, while business analysts evaluate the client’s overall strategy. Technical analysts or consultants, meanwhile, work on everything else, making sure that the system is integrating well with other systems, general software architecture, testing and more.
The quality assurance (QA) team, meanwhile are in charge of quality audits, quality assurance and testing right up until we hand over the project to the customer success team. They are primarily in charge of customer satisfaction - responding to any issues and making sure that the relationship with the client remains strong.
There are also external customer teams and business admins, who provide support when it comes to more specific structural considerations, as well as an IT team and management teams from financial institutions, as and when they’re involved. External testing teams might also be brought in on the client side.
In certain cases, there is also a risk team that provides a comprehensive risk scorecard for every client. It’s a highly codependent group of teams working together to make sure installation is quick and painless, and that operation is fluid and consistent.
Checks and Tests
Throughout delivery, we also regularly host project update meetings that are able to keep each project ticking along comfortably. These meetings take place with the project team, business team, IT team, and anyone else who is involved in the execution. We schedule around one hour per client, per week to discuss updates using the same structured template. This allows for a consistent, measured approach that’s ready to go right out of the box and is entirely configurable. Other checks include:
Quality Audits - Our quality audits are performed by project leads, who run multiple projects and have a much wider view of our operations. They have the capability to check up on a project’s progress and make sure all deliverables are created according to any given specification.
Quality Assurance - The QA team, which is independent of the delivery team, provides an empty file to the delivery team for them to fill in with all the requirements in terms of parameterisation, integration points, strategies and risk levels. This document is then used to test the system so all tests are tailored to each specific installation.
Post-Mortem - The post-mortem checks refer to the session we run once the project has ended and we break down what we’ve learned from it, what went well and what we could do better next time.
Management - We use a comprehensive ticket management system so we can follow up on each task and know exactly where we stand in terms of what has to be done and by when. We also share everything on Nexus SharePoint so we can exchange files with the customer in a more organic way. Most importantly, we constantly review our checklists and the way we operate in order to keep getting faster, more efficient and more reliable.
A Personal Service
EXUS is able to offer such a personal service because within the company everyone can reach out to everyone else without having to worry about a restrictive hierarchy. This leads to a more cohesive and collaborative environment where the product team, the sales team and the QA team can all reach out to one another instantly.
Our clients and management also have direct access to one another, which facilitates a more transparent and meaningful relationship. EXUS is not only in the business of deploying top-tier debt management solutions for the financial services sector, but also in the business of building relationships. Because the best, fastest and cleanest work always occurs when relationships are healthy, productive and harmonious.
For more information on how to build successful, digital, customer-focused debt collections strategies using EXUS, check out our white paper today.