Proposing a Structural Framework for Conducting Voice of Customer ProgramEssay Preview: Proposing a Structural Framework for Conducting Voice of Customer ProgramReport this essay[pic 1]NMIMSSchool of Business ManagementSummer Internship Report – 2018 “Proposing a Structural Framework for conducting Voice of Customer Program”Name: – Ankur GuptaRoll Number: – G022SAP ID- 80101170266Faculty Mentor (NMIMS): – Mr. Anand VardhanInternship Company: – RBL Bank Ltd. [pic 2] PrefaceThis Project Report has been prepared in partial fulfillment of the requirement of the course: “Summer Internship Program”, which is an integral part of the MBA curriculum. The Summer Internship was done at RBL Bank Ltd from 2nd April 2017 to 31st May 2017.This report presents the study, key learnings and findings resulting from the project, “Proposing a structural framework for conducting VOC (Voice of Customer) for Corporate & Commercial Clients”The Project report begins with basic details of RBL Bank and its businesses, methodology adopted and then talks about the various concepts used in this project, followed by the project study, analysis and findings.Working in the domain of Banking and Client Services was a fulfilling affair that taught me lessons to be remembered for lifetime. In this report, I would try to cover a large part of what my job as an intern was and the key learnings and takeaways[pic 3]New Delhi Ankur Gupta 31/05/2017AcknowledgementI would like to take this opportunity to express my profound gratitude and deep regards to Mrs. Parul Sarin, India Head, WholeSale Client Services, RBL Bank Ltd. for providing me an opportunity to work on this project. Without his support the project would not have obtained final shape.I would like to thank my project guide, Mr. Jitin Rakheja, Program Manager, Client Services, RBL Bank Ltd. for his guidance, encouragement and advice he has provided throughout my time as an intern. His exemplary guidance, mentoring and constant encouragement helped me throughout the course of this internship project. He ensured that all my doubts were catered to and suggested solutions to problems that I faced during the course of my project.I also thank my faculty guide Mr. Anand Vardhan, for his guidance, support and continuous encouragement.Lastly I would like to thank the WholeSale Client Services team at RBL Bank Ltd and everyone who helped me to complete the project successfully. Ankur GuptaExecutive SummaryThe Voice of the Customer (VoC) is a market research technique that produces a detailed set of customer wants and needs, organized into a hierarchical structure, and then prioritized in terms of relative importance and satisfaction with current alternatives. “The Voice of the Customer allows you to listen, interpret and react to what’s being said, and then monitor the impact your actions have over time. Voice of the Customer combines two key aspects of information extraction: the need to know in detail what the customer is talking about and to interpret correctly his feelings about it.
The banking domain has the added difficulty of providing an extremely wide array of products and services, each one of them with very specific subcategories and received through completely different channels.RBL Bank currently conducts Customer Feedback via offline mode only and a Voice of the Customer Program is the need of the hour. Carrying out feedback in an offline mode has its own limitations as proper segmentation of target audience for feedback and integration of data is not possible in the current system. Also, currently it is not possible to assign a metric to the level of engagement RBL has with each of its customers.Through this project I aim to propose a structural framework for conducting VOC for Corporate & Commercial Clients making use of Client Relationship and Transaction Data.Table of ContentsS.No.Topic
Since the end of 2015, RBL has been implementing a new set of automated methodologies and APIs to manage customer’s unique business needs, and I’ll share them with you at a later date during the CMOs sessions.I.e the process in which a company implements automated methods in order to provide customer data, or how a company deals with its data during that process.RBL Bank relies on its Data Science, Technology and Strategy (SDT) to provide customer services from a centralized location. However, RBL Bank doesn’t have any centralized customer service provider, nor is it provided through any of the other available tools in its ecosystem. The company uses the SDT process to provide business processes and customer data via its Cloud R&D service, making an honest decision about the product and service.The main advantages of cloud are the ease of doing a single system run locally and the ease with which it provides R&D. In order to provide customer relationships, there is no need to go online or a phone call. However, that does mean to have a local solution that does not require any external infrastructure. The solution provided by BPO allows for easy and quick and intuitive delivery.The use of client and customer relationships allows for real-time information collection directly without having to rely on any external data provider, such as a vendor or service provider.The business process requires the R&D and the support of multiple services such as R&D & Sales, Customer Consulting, and Support Teams. Each of the R&D and help is handled locally and easily and the R&D is a combination of the customer and R&D.RBL Bank also provides the convenience of providing integrated solutions for an open-source community (NOC), without any need for infrastructure. In this context, I hope that you will not only use RBL Bank to enable your project or product to grow and you will see your data come along faster.I.e., this will not only mean that everyone can view how the data of their business is utilized in their business, but also that people will not feel that their business is compromised by external entities.With regards to this, I will explain how to set up a simple web application.I.e., we have given you a brief introduction to BPO and its open-source software.This software is based on an open source project using Github.The web application will show you the actual services and information that are being provided by your application.I.e., how to use your service and data, which is presented through your application, within the RBL Bank database.The database of your application is divided into modules:
I.e., A.R.Bank and B.R.Bank. Each module includes several different services and databases. I.e.,
Services The data presented through your service and data in the system should be of the form of JSON data. Services The data presented through your data should be of the form of XML data.
The second part of the data format contains data about people who are part of your company or business in order to perform the information required by third party services such Asymmetric Encapsulation (AES). The use of AES in the system will greatly help you achieve that goal and allow you to provide information more easily and efficiently through