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HSBC
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| Industry |
Banking
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| Company Profile |
Established in 1865 as The Hong Kong and Shanghai Banking Corporation to finance the growing trade between China and Europe, today HSBC Holdings plc is one of the largest banking and financial services organizations in the world. The HSBC Group's international network comprises some 7,000 offices in 81 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.
Through a global network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal, commercial, corporate, investment and private banking; trade services; cash management; treasury and capital markets services; insurance; consumer and business finance; pension and investment fund management; trustee services; and securities and custody services.
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| Problems Faced |
HSBC was using e-mail, snail mail and fax in order to send account statements to its clients every month or whenever it was requested by the clients via call center functions. HSBC employees used to print out every single account statement, which would then be faxed to the clients manually. This process was slow and the errors in fax transmissions were impossible to detect. As a result, there was no way to ensure that the clients were receiving their account information on time and when requested. This was causing the customer service level of the call center and the bank to decrease rapidly.
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| Solution Strategy |
HSBC solved the problems that were being faced every month when the account statements were being sent to the customers by implementing a fax broadcasting solution that was composed of Captaris’ network fax management solution RightFax and KETS’s fax broadcasting solution KETS RFaxCast. RightFax was used to implement an effective and a reliable work flow structure, while HSBC Call Center users were given the ability to provide real-time information to the customer on the deliveries of their statements. On the other hand, RFaxCast was used to provide a centralized management solution for fax broadcasting functions of the system, while the maintenance features of RFaxCast allowed the system administrators to minimize the time spent maintaining RightFax and the overall system. Since the system handles faxes electronically rather than physically, the paper and ink cartridges used in fax machines were totally eliminated from the process. Also as a result of the increased efficiency of the process, HSBC was able to decrease its Call Center’s operating costs dramatically. Additionally, HSBC employees can use the system to send documents other than account statements to their clients. HSBC was able to provide another exceptional service to its customers using the technologies available today.
Using industry standard Intel Dialogic digital fax boards and software components, KETS was able to deliver a flexible infrastructure for the system allowing HSBC to scale and expand the system to the company’s future needs with ease. The system has allowed every fax user in the company to have an assigned fax number and has provided automatic routing services for the fax documents to be delivered to the recipient’s computer or fax machine within the company.
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| Benefits Gained |
RightFax has a 24.3% share in the world fax management software market (Source: International Data Corp 2001) and provides solutions to 50% of the Fortune 500 companies. Using RightFax and RFaxCast, KETS was able to provide HSBC with a fax automation system that brought the cost of a fax document sent to customers from $1 down to 10¢. The ease of installation and operation and the adaptability of the system have helped HSBC to solve its problems without extra financial burdens.
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| Future Plans |
HSBC is planning to provide access over the Internet to the RightFax server using its Web Client module. Using the Web Client, system administrators can access the server’s management functions remotely, while the system users will have the ability to send new fax documents and access their fax documents that are stored on the server. As a result of RightFax’s support for popular web browsers, Macintosh and UNIX users will also have access to these services. On the other hand, by providing a virtual fax number for its customers to access the system, HSBC will be able to implement another solution that increases the satisfaction of its customers.
As the second leg of the project, HSBC will utilize the Least Cost Routing functionality of RightFax between servers that will be deployed in major branches of the bank. This will allow the branches to make local calls rather than long distance calls in order to reach branches that have RightFax deployed, effectively decreasing fax broadcasting costs of the company. Intelligent Least Cost Routing functionality of the system will allow fax documents to be sent over computer networks like LANs, WANs, intranets or the Internet in cost efficient ways.
On the other hand, using new functions of RightFax, both fax and mail documents will be sent to users in one broadcast for a much easier enterprise-wide messaging solution. Being certified by Microsoft to be Windows 2000 compatible, RightFax can also be deployed over Active Directory Forests making it even more manageable and easy to integrate to existing infrastructures HSBC has.
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