Make the future of work simpler, quicker, and easier
Enate is seeing five major challenges emerge within the Trust, Fund and Corporate Services sector:
- Customer experience
- Efficiency savings
- Remote working
The demands and environment were changed almost overnight. Trust, Fund, and Corporate Services organizations needed to deliver best-in-class customer experience but through a remote workforce. It meant that many were faced with the challenge of reducing complexity and time for clients but in a new environment. It’s a juxtaposition closely connected to customer experience.
Organizations with the Trust, Fund, and Corporate Services sector have been faced with a dual-issue in maintaining existing clients - clients with vastly different scales and requirements - while attempting to establish control of their own environments. According to a report by Mavenlink, 85% of service businesses acknowledge that client expectations are increasing. It is a scenario that has placed huge pressure on service levels at a time when businesses are looking to mitigate any loss of revenue through client loss and reduced efficiencies. The flux in workload, people movement, and supporting technologies also led to a lack of visibility over smaller SLAs.
A key success metric for Trust, Fund and Corporate Services organizations has been to improve efficiencies to grow without increasing their cost base, improving margins as a result. Despite incorporating an element of future-proofing it has meant that they are not only balancing the costs associated with doing businesses versus investment for future-proofed processes, but they are also having to do so without placing extra pressure and workload on already stretched teams.
Managing a remote and disparate workforce. This is a challenge on two levels. Firstly, there is the issue of simply having the resources to enable remote working. For instance, not every country has the mobile or broadband coverage required in rural areas or away from the main office. But it has posed another issue in who is doing the work. Lack of transparency, in particular, was a critical issue in the early days of the Covid-19 outbreak, making it difficult to effectively manage the relevant processes and workstreams. Ensuring effective visibility at the central level of local operations around the world, which was always crucial, became much more difficult in a work from home situation, potentially compromising governance frameworks.
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Don’t take it from us, see what our clients are saying about how Enate has helped their businesses realize their goals.