How to Align Your Resources for Successful RDC Program Administration
Onboarding merchants or business customers to remote deposit capture (RDC) services can be complicated and time-consuming. New service activations often require delivery of hardware (a check scanner) in addition to remote software installation and system configuration on the merchant’s or business member’s computer.
Since onboarding happens in multiple steps over time, there’s always the risk of things going awry along the service activation journey. These incidents can tarnish your brand and make your business customer/member more likely to churn. For that reason, it’s best to ensure that onboarding happens methodically and quickly, with positive experiences that strengthen loyalty.
How multitasking reduces productivity
As a treasury leader, your goal throughout the process is to manage customers’ expectations and ultimately deliver on the promise of fast and easy deposits.
It all comes down to effective communications, processes and technology:
- Frictionless fulfillment execution will ensure devices reach new clients on time.
- Effective customer outreach and follow-up will keep software installations on track.
- Knowledgeable technicians will quickly install the needed software, configure the browser and ensure that your client is trained to make a deposit.
It’s always best to allocate the right personnel to the right tasks. For example, if your treasury team members are each handling multiple RDC-administration-related tasks in addition to business development and product management functions, you’re at risk of diminished overall productivity and damaged customer relationships. Studies estimate the decline in productivity can be as high as 40% for teams that multitask. Additionally, team members’ morale can also decline.
When people are focused on specific tasks, and processes and technology are aligned, there’s less potential for bottlenecks that impede onboarding and delay first deposits. This blog post offers a few best practices you can implement to ensure seamless RDC onboarding.
Refocus Your Team
Is RDC program management taking your team away from strengthening business customer relationships and growing deposits and noninterest revenue from fees?
Are your most skilled treasury managers spending too much time tracking check scanner shipments or following up on help desk tickets instead of promoting other products and services?
Is the hand-off between treasury and IT inelegant? Is the customer experience suffering?
If you answered yes to any of these questions, it might be time to consider restructuring your team. An effective way to support your RDC program is to segregate duties and map out workflows for fulfillment, onboarding and technical support. A system that tracks the status of the onboarding or software conversions is crucial. This system would enable visibility into all the activities, so you can shift workloads when needed.
Optimize Workflows
To ensure successful onboarding for Remote Deposit Capture (RDC), mapping out and refining your current onboarding processes is critical. Whether you are onboarding a few new clients a month or managing a mass migration after an acquisition, clearly defined workflows ensure a smooth experience virtually every time. Here are a few things to include in your current workflow:
- Effective Pre-Installation Communications: Set expectations early with a welcome email to new RDC clients that provides an overview of the service activation process. As part of your communications plan, be sure to also include a checklist of what the client needs to do before installation, such as having access to log-ins and hardware, browser or software requirements. Send automated reminder emails or phone calls that restate these requirements. Additionally, ensure your communication strategy includes talking points (to make support calls efficient) and written guides, as well as all relevant details about shipping, scanner setup, and required system specifications. All communications should be developed with the outcome in mind—such as to secure or keep an appointment.
- Device Fulfillment: To prevent delays and confusion, the device should be shipped to align closely with the installation date. If the scanner arrives too early, it may get misplaced; if it arrives too late, it will delay installation and potentially frustrate your business customer. Pre-configure and test scanners before they’re shipped, and be sure to include branded welcome material, setup instructions, and the necessary accessories like cords. An intentionally packed welcome kit can shorten installation time, which gets customers back to their day.
- Seamless Installation: Once the scanner ships to your customer, make sure you have a skilled technician available to assist with installation. The technician should help the client with configuring browsers, installing software, and testing the equipment to ensure they can start making deposits immediately.
- Training: After the installation is complete, the technician should provide training to ensure your clients can use the RDC system confidently. This training should be interactive, with step-by-step instructions on making a deposit and troubleshooting common issues. Directing users to online resources (videos, guides) empowers customers and reduces future support needs. Additionally, this proactive training and education reduces inbound calls for support and boosts customer satisfaction.
- Follow-Up: After the first deposit is made, schedule follow-up communications. This helps ensure customers are using the RDC service successfully and provides an opportunity to gather feedback. Automated emails or calls can be an effective way to check in with clients to resolve any lingering issues.
Enable Convenient Scheduling
Treasury departments can leverage technology to reduce the number of outreach calls required to schedule RDC installation appointments. Typically, 1 out of 4 RDC installation appointments are rescheduled by customers. The time it takes to manually handle all the calls associated with this task adds up quickly, especially if you’re migrating hundreds or thousands of customers to a new platform. With scheduling platforms, treasury departments reduce the administrative burden of outbound calls while giving business customers the convenience they prefer.
Prepare to Scale
As their customer base grows, treasury departments may feel overwhelmed with onboarding tasks, device fulfillment, and ongoing technical support needs. Outsourcing these operations to a managed services provider can relieve the strain on internal teams.
A managed services partner offers:
- Scalability: Whether you’re onboarding a few clients a week or hundreds, a managed partner can adjust resources based on your needs, ensuring you always have consistent customer experiences.
- Expert Technical Support: Instead of burdening your IT department with RDC tasks, a managed services partner provides skilled technicians to handle everything from installation to ongoing support.
- Lifecycle Management: Managed services can also help with device maintenance, repair, and eventual decommissioning, ensuring that your RDC program minimizes downtime gets significant ROI on devices.
Start Conquering Operational Challenges
For each hour key team members spend on RDC program administration, your treasury department could be missing out on growth opportunities.
A better approach to RDC program management can significantly improve customer retention and operational efficiency. By strategically deploying your team, leveraging clear workflows, communicating effectively, and possibly outsourcing to managed services partner, your financial institution can reduce the time to first deposit, increase customer satisfaction, and free up internal resources for more critical treasury functions.
How can you begin improving your RDC program?
The answer is simple: a careful evaluation of your capabilities and a solid plan. To get started, request Benchmark’s complimentary RDC Assessment.
