Loan Repayment Data Entry for a US Client

A US based financial company clears data entry backlog and completes migration of its data from its existing database to SalesForce in just 7 days

The Client

Our client is based in the United States and specializes in helping businesses of various sizes to better manage and improve finances through a number of different services. They needed a partner who could help with the following tasks.

• Update loan repayment details in an existing database.
• Update and migrate three years’ worth of data from their database into Salesforce.
• Complete the entire project within one week to meet very specific guidelines and timeframe for the client.

Project Challenges

The largest challenge related to this project was the very high volume of data presented. With daily loan repayment data for a period of three years, a high number of manual entries were required, making the project rather time consuming and serving to potentially impact the turnaround time.

The O2I Solution

To ensure the project was completed accurately and on time, the Outsource2india team completed the following -

• Solicited training from the client for the O2I team to ensure the project would be completed properly and on time.
• Completion of a trial to gauge team performance and get relevant feedback before the project started.
• Used OCR (optical character recognition) technology to convert loan statements from PDF format to Excel spreadsheets. This allowed the team to more quickly filter loan records based on individual names and then update records.
• Migrated all the updated data into SalesForce once completed whereupon it was checked by the QA team.

The Results

As a result of the extra time spent to ensure training and accurate engagement with the team, the following results were made possible for the project -

• The entirety of the project was completed in just one week with 100% accuracy for all entries.
• The client's backlogs were cleared and the cost of the process was reduced by 50% over completing the entire project in-house.
• The client referred the services of O2I to their business colleagues, resulting in three additional FTEs being assigned to meet client requirement.

To learn more about data entry and data management services from Outsource2india for your own requirement, contact and speak with a member of our team today.