Redesigned application and support system overcome multiple process challenges that were causing costly delivery delays and widespread dissatisfaction.
Client
A leading global standards organization
Goal
Improve coordination across teams, reduce delivery delays, and streamline support processes for global users
Tools and Technologies
.NET Core, Vue.JS, Python, Docker, Kubernetes, Azure, Angular, Cosmos DB, MS SQL Server, PowerBI, Redis, Azure Functions, Azure Data Factory, Azure App Service, Spring Boot, Java
Business Challenge
The IT ecosystem was spread across multiple vendors and in-house teams, creating significant coordination overheads and challenges. These issues led to member organizations expressing dissatisfaction due to delivery delays and high turnaround times on incidents and problems.
The teams also had to support users across various geographies and time zones, further complicating operations. A lack of standardized customer service processes and knowledge base documentation also hindered issue resolution. Additionally, the teams struggled with awareness of client-specific standards and applications, while needing to handle ad hoc requests and support teams with customer service-specific projects.
Solution
- Three-week discovery phase and six-month transition plan covering 10+ applications, 24/7 Level 2 support, and infra support
- Established service and operations management processes, including governance, tools, and KPIs for agile and ITIL processes
- Set up and maintained Freshdesk ticketing system to manage user requests
- Created detailed SOPs and canned messages in Freshdesk for BAU tracking
- SLA collaboration - worked with L3 team to define resolution SLAs for critical tickets
- Created weekly and monthly reports to track requests, issues, and risks
- Set up a standard process with client to handle access-related requests
Outcomes
- Zero downtime deployments
- Faster on-boarding of member organizations
- Continuous reductions in infra costs on quarter-to-quarter basis
- 100% response and resolution SLA that led to 100% customer satisfaction
- Timely access to all applications for business users
- A one-stop shop via Freshdesk for all ticket information and data for all stakeholders
- Expertise on global standards enables ideas and suggestions to optimize the process for continuous improvement
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Automated POD improves turnaround time 95%
Optimized Proof of Delivery documentation improves productivity by 87% and billing cycle by 35%.
Client
Leading supply chain brokerage
Goal
Automate Proof of Delivery documentation process to increase efficiency and accuracy in data upload, validation and invoicing
Tools and Technologies
UI Path Orchestrator, UI Path Document Understanding, Microsoft Power BI, Oracle Transportation Management
Business Challenge
Proof of Delivery (POD) is a document that confirms an order has arrived at its destination and was successfully delivered before the invoice can be billed for payment.
Lack of an electronic POD system leads to inefficient, manual processing due to varied legal and contractual documentation requirements, resulting in longer billing cycles. Diverse formats and layouts from different carriers complicate data extraction from paper-based PODs.
Solution
- Developed a Document Processing Bot with UI Path AI Center, leveraging Document Understanding and Optical Character Recognition for managing various carrier documents
- Optimized data models for major carriers, focusing on the top five document types that represent 80% of the volume
- Implemented UI Path Action Center's "Human in the Loop" to handle exceptions and conducted 6-8 weeks of rigorous training on the Document Understanding model to ensure accuracy and meet confidence targets
Outcomes
- Achieved a 95% reduction in POD turnaround time, dropping from 48 hours to 2 hours, significantly boosting customer satisfaction
- Enhanced productivity by 87.5%, confirming receipt and condition of freight efficiently
- Reached 80% process accuracy, with continuous enhancement via automatic retraining
- Cut the billing cycle by 35%, allowing immediate use of data for customer invoicing
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Automated scheduling bots boost productivity by 50%
Major productivity gains and increased customer satisfaction from using 24/7 automated bots in place of manual scheduling.
Client
Leading supply chain brokerage
Goal
Automate the manual, supply-chain scheduling process to improve staff productivity and customer satisfaction
Tools and Technologies
UI Path Orchestrator, UI Path Assistant, Microsoft Power BI, Office 365
Business Challenge
Performing crucial supply chain logistics, a provider’s operations team was struggling due to the high volume of scheduling appointments with shippers, receivers, and carriers, which involve back and forth emails, phone calls, or manual data entry into multiple Transport Management Systems (TMS).
These appointment-scheduling complexities vary based on the parties involved, from sending an email requesting appointment times to accessing a TMS and selecting what’s available as per their schedule.
Lacking proper analytics, sales representatives were unable to pinpoint peak appointment times, track cancellation rates, or discern customer preferences, often leading to shipment delays and incurred detention charges.
Solution
- Deployed multiple rule-based, automated workflows to pull information from incoming appointment requests (from emails, web forms, etc.) and automatically input it into the various TMS used to book pick-up and delivery appointments
- Developed a Power BI dashboard to visualize appointment trends, peak times, and cancellation rates, providing insights into customer behaviors, including frequent reschedules, preferred times, and typical lead times for booking appointments
- Delivered a reusable solution that could be leveraged for other business areas
Outcomes
- Bots operating 24/7 have led to over 15,000 monthly appointments being scheduled, resulting in a 50% reduction in manual scheduling hours
- The productivity of the operations team has improved by 50%, enabling staff to concentrate on high-value tasks rather than manual appointment-booking
- The increased accuracy in scheduled appointments has significantly decreased detention charges, thereby boosting overall customer satisfaction
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Unified automation strategy enhances efficiency
Automated platform engineering solution improves reliability and lowers costs by 20-50% each for a leading payroll and HR solutions provider.
Client
Leading payroll and HR solutions provider
Goal
Develop automation strategy and framework that accommodates growth and ensures efficiency
Tools and Technologies
Ansible, AWS, Dynatrace, Gremlin, Groovy, Jenkins, Keptn, KICS, Python, Terraform
Business Challenge
The SRE (Site Reliability Engineering) shared services team faced a diverse set of needs relating to automation of infrastructure and services provisioning, configuration, and deployment.
The team was encountering resource constraints, as limited in-house expertise in certain automation tools and technologies was causing delays in meeting critical automation requirements. They also needed to ensure system reliability and were challenged to scale automation solutions to accommodate increasing demands as operations grow.
Solution
- Development of a comprehensive automation strategy to align with objectives, encompassing Terraform, Ansible, Python, Groovy, and other relevant technologies in the AWS environment
- Leveraging our expertise to bridge the knowledge gap, provide training, and augment the client team in handling complex automation tasks
- Implementation of a chaos engineering framework using Gremlin, Dynatrace, Keptn, and EDA tools, to proactively identify weaknesses and enhance system resilience
- Creation of a scalable automation framework that accommodates growing needs and ensures long-term efficiency
Outcomes
- A unified automation strategy that streamlined processes, reduced manual effort, and enhanced overall efficiency by 30%
- The implementation of chaos engineering and self-healing practices, which increased reliability between 20% and 50%
- A reduction in manual interventions along with improved efficiency that will result in cost savings of 25% - 50%
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Quality engineering optimizes a DLT platform
Reliability, availability, scalability, observability, and resilience ensured; release cycles and testing time improve 75% and 80%.
Client
A leading provider of financial services digitization solutions
Goal
Reliability assurance for a digital ledger technology (DLT) platform
Tools and Technologies
Kotlin, Java, Http Client, AWS, Azure, GCP, G42, OCP, AKS, EKS, Docker, Kubernetes, Helm Chart, Terraform
Business Challenge
A leader in Blockchain-based digital financial services required assurance for non-GUI (Graphic User Interface), Command Line Interface (CLI), microservices and Representational State Transfer (REST) APIs for a Digital Ledger Technology (DLT) platform, as well as platform reliability assurance on Azure, AWS services (EKS, AKS) to ensure availability, scalability, observability, monitoring and resilience (disaster recovery). It also wanted to identify capacity recommendations and any performance bottlenecks (whether impacting throughput or individual transaction latency) and required comprehensive automation coverage for older and newer product versions and management of frequent deliveries of multiple DLT product versions on a monthly basis.
Solution
- 130+ Dapps were developed and enhanced on the existing automation framework for terminal CLI and cluster utilities
- Quality engineering was streamlined with real-time dashboarding via Grafana and Prometheus
- Coverage for older and newer versions of the DLT platform was automated for smooth, frequent deliverables for confidence in releases
- The test case management tool, Xray, was implemented for transparent automation coverage
- Utilities were developed to execute a testing suite for AKS, EKS, local MAC/ Windows/ Linux cluster environments to run on a daily or as-needed basis
Outcomes
- Automation shortened release cycles from 1x/month to 1x/week; leads testing time was reduced by 80%
- Test automation coverage with 2,000 TCs was developed, with pass rate of 96% in daily runs
- Compatibility was created across AWS-EKS, Azure-AKS, Mac, Windows, Linux and local cluster
- Increased efficiency in deliverables was displayed, along with an annual $350K savings for TCMs
- An average throughput of 25 complete workflows per second was sustained
- Achieved a 95th percentile flow-completion time that should not exceed 10 seconds
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NMSDC Annual Conference & Exchange October 2024
Connect at the 2024 NMSDC Conference & Exchange
Meet Venkat Laksh and Swarnendu Banerjee at this year’s National Minority Supplier Development Council Conference in Atlanta and learn about advanced technology services from Iris, a certified MBE.
Annually certified by the National Minority Supplier Development Council (NMSDC) as a Minority-owned Business Enterprise (MBE), Iris is pleased to again participate in its annual Conference & Exchange. This year, it’s at the Georgia World Congress Center in Atlanta from October 20-23, 2024, and the theme is Defining New Norms.
Venkat Laksh, Global Lead - Insurance, and Swarnendu Banerjee, Client Partner - Life Sciences, will represent Iris. Connect with them at the Conference to learn how Iris has provided technology services and solutions to Fortune 500 and other companies in multiple industries for more than three decades. With our experience in Application Development, Automation, Cloud, Data Science, Enterprise Analytics, Integrations, Quality and Software Engineering, applying emerging technologies such as AI, Generative AI and Machine Learning, Iris advances clients’ digital transformation journeys while supporting their diversity, equity and inclusion (DEI) commitments. Our deep domain knowledge encompasses the banking, financial services, insurance, life sciences, manufacturing, pharmaceuticals, transportation and logistics sectors.
Iris is also certified as a top employer and award-winning workplace culture. Our story of success and growth in the technology business aligns with NMSDC’s mission and the goals C-suite executives and supplier diversity, hiring and procurement professionals attending the 2024 Conference.
Connect with Venkat and Swarnendu at the 2024 Conference or afterward to discuss how Iris’ capabilities can help your enterprise realize the benefits of innovative, future-ready technology. You can also visit industry-specific tech services to learn more and contact us.
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Get in touchITC Vegas – The Frontier of Insurance Innovation
ITC Vegas - the Frontier of Insurance Innovation
Meet Venkat Laksh, Global Insurance Lead, and Glenn DeGeorge, Client Partner, at InsureTech Connect 2024 to discuss advanced technology services and transformation for insurers.
Meet Venkat Laksh, Global Insurance Lead, and Glenn DeGeorge, Client Partner, at the Frontier of Insurance Innovation - the Mandalay Bay in Las Vegas, Nevada, from October 15-17, 2024. That’s the theme, place and date of this year’s InsureTech Connect (ITC) annual conference, billed as the industry's largest, with 9,000+ attendees - insurers, reinsurers, brokers, risk managers, investors, and technology solution providers, such as Iris Software.
Technology and innovation topics, mainly related to AI/Generative AI and Data, again dominate the agenda as they continue to be pivotal to the insurance industry. Here are examples of the sessions each day:
- Insurance in the AI Age
- 100x your Underwriting & Claims Performance with AI
- Driving Profitability with AI-Powered Externalized Rating and Underwriting
- Insurdata Revolution: Unleashing the Power of Analytics for Innovation
- The Role of AI and Data Analytics in Commercial Insurance: Driving Efficiency and Accuracy
- Building the Future: Responsible AI and Gen AI in Property Insurance
- Beyond the Hype - The Real Potential of Gen AI for Individuals, Insurers and Our Industry
- How Insurance Firms Drive Award-Winning Customer Experiences with Data and AI
- Insuring for Cyber Losses for SME's: An AI-led Approach to Estimating Loss Coverages
- Claim Smarter: Leveraging AI for Precision, Speed and Sustainability
Insurers can ensure their enterprises are future-ready, scalable, secure, cost-efficient, and compliant, by smartly employing next-generation, emerging technology through a highly-experienced insuretech services provider. Talk about your digital priorities with Venkat Laksh, Global Insurance Lead, and Glenn DeGeorge, Client Partner, at ITC Vegas 2024, and learn how leading insurers are applying Iris solutions in AI/Generative AI/Machine Learning, Application Modernization, Automation, Cloud, Data Science, Enterprise Analytics, and Integrations, to advance their digital transformation goals.
You can also contact Venkat and Glenn to learn more about our InsurTech Services that help future-proof insurance enterprises here: Insurance Technology Services | Iris Software and read a few of our Gen AI success stories and insightful perspective papers, including Gen AI – powered summarization boosts underwriting policies and compliance workflow and How Gen AI can transform software engineering.
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Get in touchMeet us at the NY FIA Forum: Treasury Clearing 2024
Meet us at the NY FIA Forum: Treasury Clearing 2024
Iris New York City-based financial services professionals are attending the Forum, where clearing capabilities and new regulatory mandates are the focus.
The FIA (Futures Industry Association) is hosting a forum on treasury clearing on October 15, 2024 at the BNP Paribas Tower in New York City. The theme is The Evolution of Agency Clearing and a major focus is on clearing model development and new regulatory mandates. Attendees can have beneficial discussions on these topics with experienced financial services professionals from our New York City office who are attending: Jatin Shah and Ryan Fagan, Senior Client Partners, and Jesse Regina, Account Manager.
According to its website, FIA is the leading global trade organization for the futures, options and centrally-cleared derivatives markets, which are key to the global economy as they allow for price discovery and risk management. FIA represents various market participants, including exchanges and clearinghouses, executing brokers, proprietary trading firms and others. The U.S. SEC (Securities and Exchange Commission) has mandated the clearing of certain treasuries and repos (repurchase agreements) by 2026, and many participants in the cleared derivatives markets are impacted and making plans for their operations, technology, compliance, compliance.
Session topics will include: the benefits of expanding central clearing and considerations for implementing the SEC’s central clearing rule; how clearing reduces counterparty risk, settlement flows, fails, and establishes consistent and robust risk management practices for clearing; client clearing access models, margin practices, and the possibility of multiple central counterparty entrants to the U.S. treasury market, which pertain to the new mandate; bank capacity and structural needs for clearing success; and the challenges and opportunities seen by buy-side participants.
Iris is a key provider of technology services to leading global banks, wealth management, brokerage and financial services companies operating in the capital markets and related sectors and as counterparties. Per the FIA, asset managers, hedge funds and principal trading firms will all be affected by the clearing mandate, but each type of market participant will have different needs and operational challenges as they comply. Learn how these entities can and do apply Iris’ deep domain knowledge and experience and our advanced technology solutions - in AI / Gen AI / ML, Application Development, Automation, Cloud, DevOps, Data Science, Enterprise Analytics, Integrations, and Quality Engineering - to enhance security, scalability, cost-efficiency, and compliance in myriad platforms, processes and systems supporting clearing, settlement, currency and major transactions.
Contact Jatin, Ryan, Jesse and our entire team of experts and obtain more information here: Iris Software Banking and Financial Services. You can also read our pertinent, insightful perspective papers, including: Navigating Distributed Ledger Technologies; Real-world Asset Tokenization and Productionizing Generative AI Pilots.
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Get in touchWomen in Payments Canada Symposium 2024
Women in Payments Canada Symposium 2024
Meet our Toronto-based experts, Subramanian Viswanathan and Suneela Katikala, at the Symposium to learn about advanced technology solutions for the banking, financial services and payments industries.
Each year, the Global Association of Women Leaders in Payments hosts annual forums in several regions around the world for women payments professionals to connect, share ideas, learn the latest trends and challenges in fintech and the payments market, and to advance change.
This year’s Women in Payments Canada Symposium will be held at Arcadian Court in Toronto, Ontario, on September 24-25, 2024. The theme, Women Leading in Generative AI, will be in focus as women leaders and various presenters share their perspectives on a range of topics impacting the payments ecosystem.
As a key provider of technology services to leading Canadian and global banks, including those operating in the retail banking and payments sector, two of Iris’ banking and financial services experts will participate in the 2024 Symposium. Connect there with Subramanian Viswanathan, Associate Vice President, Financial Services Practice, and Suneela Katikala, Senior Client Partner, Financial Services, to discuss digital transformation and payment system modernization.
Learn how banks and associated entities apply Iris’ deep domain knowledge and experience and advanced technology solutions - in AI / ML, Application Development, Automation, Cloud, DevOps, Data Science, Enterprise Analytics, Integrations, and Quality Engineering - to enhance security, scalability, cost-efficiency, and compliance in the myriad platforms, processes and systems supporting domestic and international payments transactions – involving clearing, settlement, currency, etc. Iris is PCIDSS 4.0-certified to ensure robust cyber security and compliance for our clients involved in payment card processing or that store, process, or transmit cardholder data and/or sensitive authentication data.
Contact our team and obtain more information about future-ready Iris Software Banking and Financial Services. You can also read our Perspective Paper on the state of Central Bank Digital Currency.
Read our Gen AI success stories here: https://www.irissoftware.com/stories/.
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Get in touchInnovation and InsurTech at LIMRA 2024 Conference
Innovation and InsurTech at LIMRA 2024 Conference
Talk about technology transformation in life insurance and annuities with Venkat Laksh, our insurance expert, at the LIMRA Annual Conference.
The LIMRA (Life Insurance Marketing and Research Association) Annual Conference of 2024 takes place September 15-17 in Nashville, TN, at the Gaylord Opryland Resort & Convention Center. This year’s theme, Innovate with Purpose, will permeate the workshops, seminars and networking, as hundreds of attendees and presenters focus on the topics of digital transformation, distribution systems, customer experience and talent strategy. The conference enables life insurance, annuities and workplace benefits service providers to discuss these subjects and the key business, technology and regulatory challenges and opportunities facing their enterprises and industry.
Iris Software’s Global Lead – Insurance, Venkat Laksh, will attend this forum. Iris provides leading life insurance companies with advanced InsurTech services and solutions that are key to future-proofing and ensuring the competitiveness of organizations. These services include Software and Quality Engineering, AI/ML/Generative AI, Application Modernization, Automation, Cloud, Data Science, Enterprise Analytics and Integrations.
Whether innovating product lines or user experiences, migrating from legacy systems to cloud, implementing Gen AI, or transforming data and analytics systems, connect with Venkat at the LIMRA 2024 Annual Conference for beneficial conversation on the latest technology trends and your priorities. Staying ahead of the curve in their digital journeys helps insurers enhance operational efficiencies, customer engagement and satisfaction, and compliance, risk management and security.
Read our Gen AI success stories applicable to insurers here: https://www.irissoftware.com/stories/.
Get more information about Iris InsurTech Services here: Insurance Technology Services | Iris Software.
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