About the clientindusindbank

IndusInd Bank Limited is one of the fastest-growing banks in India, catering to both consumer and corporate customers. As of 30 September 2013, IndusInd Bank has 560 branches and 1025 ATMs, spread across 388 locations in the country. The bank also has offices in London and Dubai.

Business challenges

  • Client was not fully aware of its telecom spending for vendors or its multiple locations and cost centers across the country (the heads of facilities and admin were finding it tough to accurately budget for annual telecom spending).
  • Most of the contracts were outdated, and some employees had left organization without a proper handover of collaterals and documents.
  • In some of telecom inventories, cost codes were not mapped and the bank was unable to trace the installation locations.
  • MIS did not highlight usage and spending across months because there was no billing data analysis.
  • Vendors had allocated different account managers each for billing, services and procurement, resulting in delays and multiple follow-ups to resolve issues.
  • Some remote locations procured local wired lines and paid bills without prior notice to the administrative team, resulting in haphazard procurement.
  • The bank had limited resources for handling the various responsibilities related to administration and facilities on a weekly basis.
  • In some cases, the branch and admin managers were responsible for procuring connections, managing them and paying the bills at their respective branch or regional office, paving the way for decentralization of telecommunications for the bank.
  • Moreover, bills not only came from different sources, but had different billing dates. This complexity added to challenge of managing, centralizing and controlling spending.
  • Billing errors accumulated on accounts month after month because not enough time and expertise were available to isolate the problems.

Intellibuzz’s Solution

  • Started to cover the territory region by region, starting with the Financial District, which had maximum spending, and focusing on head offices, call centers, etc., to isolate the services with maximum spending, using a Pareto analysis
  • Conducted an online reverse auction for audio-conferencing services across nine vendors
  • Identified underutilized and unidentified lines where higher rents was being charged relative to usage
  • Eliminated 77 needless services, including Walky Centrex and toll-free numbers
  • Drafted a mobile and data reimbursement wireless policy for 8000+ employees
  • Physical site inspection carried out across various branches
  • Instituted a contract-management process for handling multiple contracts for four vendors across different connection types, including PRI, audio conferencing and Centrex
  • Registered all inventories for e-billing (assigning PDF copies to a centralized email inbox for all telecom activities)
  • Designed a vendor escalation matrix for multiple vendors for service, billing and support, all flowing through a common channel
  • MIS highlighting spikes on usage for wired lines

 Business Benefits

  • Reverse auction helped in contract negotiations on highest used charging component, thus saving $250,000+ in 2013-2014 fiscal year alone
  • Invoice follow-up cycle reduced from two days to zero, saving 16 work hours a month for each vendor
  • No paper clutter or huge stacks of bills on admin desk saved 5000 to 8000 pages a month, thus boosting environment responsibility
  • Invoice-processing speed accelerated by 20%, thereby ensuring no late fees charged to customers
    • Usage spikes in MIS helped bank in controlling 36 lakhs annually