Johannesburg, 10 Oct 2012
DST has partnered with CSC since 1993 and this continues to be one of its most successful and enduring relationships worldwide. With a track record for delivering software, consulting, IT and business process outsourcing (BPO) services, CSC brings a deep understanding and a collaborative culture to the financial services industry.
Global relationship
CSC is both a distribution and delivery partner and has worked with DST to implement AWD at almost 130 financial services companies, predominantly in the insurance sector. With CSC's help, AWD has become a leading business process management (BPM) solution in the life and annuity market, with over 100 insurance companies around the globe using AWD for process improvement throughout the value chain.
AWD is also the work distribution backbone of CSC's BPO World Sourcing Model, helping CSC to achieve industry leading SLAs for its clients. DST and CSC work collaboratively to deliver worldwide results with CSC's change management, business consulting and programme management skills complementing DST's product focus.
Australian relationship
Australia is a market where DST and CSC are building a successful model for collaboration. Their people work in harmony as one team, leveraging individual skills to engage with customers to solve their complex business problems and deliver solutions that meet their needs. Trust and integrity are the foundations of the partnership and their customers have confidence in the relationship. Here we will look in closer detail at the companies' focus in Australia as just one example of how CSC and DST collaborate all over the world.
"In Australia, we work as 'one company' with CSC. We share the same vision, goals and thinking with the sales and delivery teams tightly integrated to deliver the best possible solution for our customers. Seen as 'one', we share responsibilities and have a level of trust that helps our customers experience the best of both worlds - a technology vendor in DST, which has industry best practice in business process management, and a delivery partner in CSC, which has domain knowledge and transformation expertise. Together, we are helping our customers achieve their strategic goals." - Shaun McKenna, Regional Manager, Australia, DST.
"It gives me great comfort that DST is an organisation that cares passionately about their customers and the strong business benefits and outcomes their software delivers. For me, DST is a company that has reinvented their software to bring their significant customer base into the 21st century. They have invested heavily to ensure their solutions are future-proof and best-of-breed. It's a real pleasure to have their software sit astride CSC's product suite and offer our customers demonstrable performance benefits and financial gains." - Stephen Browne, Director of Insurance, CSC.
Challenging market conditions
There are many challenges in the financial services industry that companies are looking to address. These include the efficiency and effectiveness of processes, business agility, regulatory compliance and customer centricity. Competition has driven organisations to focus on new business, identifying ways to bring new products to market at a faster pace, leveraging new channels and moving towards a focus on customer centricity. Companies are looking to increase customer acquisition and retain them for longer periods. There is a need to focus on the customer and improve the value chain, transforming the manual, labour-intensive legacy processing environment into a more efficient, cost-effective service.
Bringing solutions together
Together, CSC and DST are looking to address these challenges with innovative agile solutions supported by CSC's domain knowledge and transformation expertise and DST's BPM focus. CSC is helping AWD become the cornerstone of strategic transformation initiatives, combining the extensive capabilities within the solution with other technologies, such as rules engines, CRM and core administration platforms to truly drive change for its clients.
In Australia, DST is partnering with CSC to engage in transformation programmes to support digital strategies and customer-centric models while also improving the efficiency and effectiveness of processes within the back-office.
Digital strategies
A number of companies in Australia have initiatives to increase their Web presences and open up new channels to service customers with the goal of increased customer acquisition and retention. CSC and DST are engaged in numerous transformation business reviews to identify the business challenges and understand the strategic goals of the organisations. CSC's solution leverages domain knowledge, IT and business transformation best practices and a combination of technologies including AWD to help transform the business and create an agile digital environment. AWD is typically utilised as the Web application form integrated into a rules engine for automatic decision-making and distribution management of exceptions to the back-office processing teams, while automatically sending out tailored communications to the customer.
Customer centricity
From a servicing perspective, financial services companies are moving away from product-centric servicing into customer-centric service models including sophisticated Web self-service capabilities. CSC works closely with its customers to understand the core systems where data is held and build a self-service Web channel for customers to see all products held and perform standard administration transactions, reducing the need for back-office personnel to make basic account changes. AWD is once again leveraged as the Web form component within the customer Web site and manages the straight-through processing of the transaction.
Insurance in a box
In Australia, CSC has launched 'insurance in a box', an integrated solution designed to deliver digital strategies, customer-centric models and improve the efficiency and effectiveness of back-office administration processes. The platform is a combination of CSC products coupled with AWD, hosted as a private cloud in the CSC Australian data centres. This as-a-service model provides their joint customers the benefits of an agile processing environment.
A future of innovation
CSC and DST have been working in collaboration for nearly 20 years and continue to bring innovative solutions to the financial services market across the globe. This best-of-breed partnership continues to blossom, with their customers benefiting from the comprehensive industry knowledge and transformation experience of CSC combined with the robust, agile BPM platform and financial services best practices of DST.
For more information, click here.
Share