Our Quality
At ThomasandAlex financial services, quality is non-negotiable. We have established a quality framework that has adopted the best practices, established methodologies and the commitment to achieve excellence in our service delivery. As a part of quality improvement initiatives we have implemented the weekly activity sheet monitoring, control points checking, second-level quality checks, random sampling of transactions, and collection of metrics. Apart from the above initiatives, we have been constantly working to improve our process capabilities and to continuously raise the bar for the quality levels for the work we do for our clients.
Define
We have two methods to address the definition stage.
- Transition templates
- Process documentation
We have a transition template in place. All critical information needed for the execution of the project is gathered during transition phase.
All the processes are documented during the transition phase and sent to the client for consensus. At this stage the client sends his feedback and suggestions for improvements and also clarifies on any misunderstood process flows. The detailed process documents help during staff changes and ensure smooth continuity. This is an important tool for the client as it becomes the process documents for all the outsourced processes which could be used for review at later stages.
Measure
Once the transition is completed and the processes and expectations defined we move to the actual process delivery. During the transition phase the measures against results and behaviors are identified. What would be measured and how it would be measured along with the periodicity and the reporting format would be finalized. This would be tracked regularly and reported to the client.
Analyze
After tracking the measures are analyzed for deviations and the causes for those deviations. This helps to identify factors that are critical to quality.
Illustration
One of our customers, a Chicago-based Seafood company engaged us to manage their AR department two years ago. With over 2,500 customers and an AR of over USD 8 million, we had to define a process and specify measures to clarify the desired results. While the initial process results were focused on the various customer segments based on aging profiles, and progress across these were tracked, on further analysis of measures and deviations, process improvements were implemented in terms of revised measures. We began focusing on improving DSO which brought in significant changes.
Improve
Having identified the factors that are critical to quality, we can plan process improvements and training interventions.
Control
Control the improvements to keep the process on the new course.
- Prevent reverting to the previous capability
- Require the development, documentation and implementation of an on-going monitoring plan
- Institutionalize the improvements through the modification of systems and structures(staffing, training and incentives)
Illustration
For all our customers we have worked on improving compliance to regulations pertaining to their businesses/industry by maintaining checklists and date sensitive sign-offs.
