at a glance
a leading private Insurance player was grappling with customer management issues, like high churn, non renewal of policies and over reliance on advisors for customer engagement. High attrition among advisors was leading to a sizeable segment of 'super high-net worth' customers being orphaned with no engagement process in place.
seeing the teams involvement and thoroughness, the engagement soon included customizing, designing and implementing of ERP systems, including a proprietary application college management software for the student lifecycle.
in the 10+ years of association, thinksynq not only provided business strategy planning and implementation but also automated their operations to equip the University to manage growth in a structured way.
Business strategy, tech solutions and operational excellence for a fast growing educational institute thinksynq's association with a private educational institution began in 2008, when the institute had just inaugurated its second campus. Being cash-rich, the institution never had the compulsion to closely monitor and manage fund requirement and deployment. But a change was clearly required with newer campuses and a larger student/faculty body being added.
The institute was finding it difficult to devise a planning and monitoring mechanism and called in thinksynq to develop and implement budgetary control systems along with financial modeling, fund allocation, accounts payable & receivable management. After observing the ad hoc nature of fund allocation, and lack of experience among the academic staff in preparing Annual Operating Plans(AOPs) and Budgets, thinksynq team knew that to make it work, enabling the University team was of utmost importance.
thinksynq prepared AOPs for three years, working closely with the departments, handholding them and eventually making sure that they were able to do the same independently. It redefined the Chart of Accounts and Accounting manual so as to enable better monitoring and financial reporting.
Soon the client came to thinksynq with another area of concern. Despite spending crores on an ERP system for purchases, payroll etc., they were unable to implement it.
thinksynq assisted in the entire automation process and developed a college management software covering student lifecycle management, customized application software, a customised purchase & payment software and HRM software, for suiting the unique needs of the institution.
more than the software build the key difference was in the active role played by thinksynq in implementation. The team was closely involved in hand-holding and training users. It also continued to refine the product and provide application maintenance based on user feedback to ensure complete implementation.
thinkpeople, HRM software customised by thinksynq had additional features to handle the UGC pay scale requirements. The HRM softwares payroll application handles more than 2,500 employees, their attendance, leave application & approvals, TDS self-declaration, TDS deductions, statutory compliances and mobile application of self-care.
for purchase & payment management, thinkmoney, a tailormade software was implemented which handles more than 1,500 purchase requests and 1,000 purchase orders per month through its expansive procure to pay module.
college management software covering the student life cycle management, has been developed to be as flexible as possible to cover the entire gamut of activities in a student life cycle, starting from a student application till course completion.
results
HRM software is a comprehensive solution, being used by 2500 employees for both admin & payroll while the Procurement system handles more than 2500 indents, orders & requests per month across the organization
strategic planning and implementation of processes & systems helped the University manage 40,000 students across 4 campuses seamlessly.
thinksynq facilitated a large fund raising of Rs.1000 crores in a short period by providing detail-oriented Funding advice and management.
Enabled the University to instill a culture of much-needed financial discipline and control through financial audits and compliance, which was critical as the institute expanded from 1 to 4 campuses rapidly.