The client is a leading Indian bank that caters to 78 million customers across 23 countries. Established over 100 years ago, the bank today has more than 5000 branches, of which 104 are located outside India.
The client was looking to optimize operation-planning across processes, particularly for customer service support calls. The primary objective was to maintain fewer employees on bench without comprising on process quality or output.
The client deployed a very rudimentary method called ‘moving average’ that involved manual excel entries for identifying the required headcount for a particular process.
Provisions for seasonality
The client’s call data was analyzed and checked for its stationary and periodic nature. The solution also specifically took into account periods where calls were higher than average. It addressed this issue by running several additional iterations for periods where call rates were skewed.
The forecasting method
An analysis of the cleaned data provided the basis for selecting ARIMA method as the most apt approach for forecasting. ARIMA forecasting was used to create several models. The process ran nearly 3000 iterations to ensure maximum accuracy. After a thorough analysis of all resulting models the best was tested for accuracy levels.
The Firstsource solution was a success. Improved accuracy resulted in better headcount guidance and fewer employees on bench.
Firstsource is a leading provider of customised Business Process Management (BPM) services. We specialise in helping clients stay ahead of the curve through transformational solutions in order to reimagine business processes and deliver increased efficiency, deeper insights and superior outcomes.
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