Tata Mutual Fund Case Study

Tata Mutual Fund Case Study2023-09-04T18:07:47+05:30





Mumbai, India



Over the years, Talisma has travelled with us and provided us with a solution that helps us serve customers and distributors efficiently. It started as a basic Customer Support module and has now grown into a module used by 100 users, handling almost 1000 interactions every day. By enabling easy tracking of customer and distributor interactions across different modes, our service teams across our 70 branches have become more agile. We are looking forward to continuing our journey with Talisma.

Mr. Girish Babu
Head – IT at Tata Asset Management Pvt. Ltd

Tata Mutual Funds has been a loyal customer of Talisma for 15 years, utilizing the service modules. Initially, the services module was used by a team of 2 users and focused on managing incoming emails from customers. Currently, the service module used by Tata Mutual Funds has also been extended to include distributor interaction handling. Automatic escalation of customer and distributor interactions is configured across 5 levels. The service module has thus grown to a 100-user system today, handling nearly 1000 interactions per day.

Understanding the client’s challenges, Talisma developed a solution that provides seamless access to customer and distributor interactions across different modes of contact. Multiple teams use TALISMA to understand customer issues better, which leads to improving service quality and time to taken to serve customers, distributors.

challenges-tata-mutual-fundThe Challenges

Lack of a dedicated system to store customer data:

  • Reliance on Outlook for customer interaction

Customer Interaction data stored in silos:

  • Transactional tasks managed in Excel sheets, resulting in unstructured data storage.
  • Data stored separately among different customer service team members.

Difficulty in tracking a large number of customer interactions:

  • Reliance on Excel for interaction tracking, lacking integration with Outlook
  • Communication barriers when multiple teams were involved in resolving customer queries

challenges-tata-mutual-fundThe Solutions

Easy access to customer data from different sources:

  • Phone workspace utilized by around 30 agents and Branch workspace used by around 70 branches, provides call center agents and the branch support staff with access to past customer interactions
  • Folio numbers generated by the RTA of TMF are uploaded and this enables tracking of investor interactions from E-Mail, phone & walk-ins at branches
  • This enables all service staff to easily view follow-ups on past interactions from different formats, such as through branches, call center, email, or physical letters

Expanding the Customer services module to handle distributor queries::

  • Configured an external email ID for the distributor help desk to address broker queries
  • The result was, a unified system with the interaction history of customers and distributors for better understanding of customers, their grievances & their portfolios.

Automated Escalation Matrix:

  • Implemented an automated escalation system across 5 levels to address pending or escalated issues
  • Applied the escalation matrix system for servicing both customers as well as distributors

As a result of these solutions, Tata Mutual Funds has been able to achieve 90-95% SLA compliance in resolving customer grievances within 3 days. This is a respectable figure as per industry standards. The combination of easy access to customer data, distributor data, past interactions, an automated escalation matrix, and improved agent/team performance contributed to this achievement.

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