FinTech Awards 2023 Wealth & Finance 32. Jun23666 Best Business Data Analytics & Management FinTech Solution 2023 Discover how DATAMARK, Inc., a trailblazing Business Process Outsourcing (BPO) provider founded in 1989, has revolutionised the finance industry through its innovative data management solutions. With a legacy of excellence spanning decades, DATAMARK’s transformative impact includes streamlining intricate bank reconciliation processes and automating manual tracking tasks for regional banks. Founded three decades ago by Bill and Becky Holmes, DATAMARK has emerged as a pioneering force in BPO, driving innovation through its groundbreaking solutions. A specialist in data management, DATAMARK has gained acclaim for its exceptional services within the finance sector. Over its illustrious trajectory, DATAMARK has evolved from a modest team serving a Fortune 500 overnight transportation carrier into a global BPO powerhouse, serving clients across multiple sectors and countries. Starting with a modest workforce of 26 employees, DATAMARK’s journey has constantly evolved. Presently, the company boasts over 3,000 dedicated professionals spanning three countries. This expansive team offers a spectrum of back-office and contact centre services, facilitating enhanced operational efficiency and improved customer engagement for clients worldwide. One of DATAMARK’s core competencies lies in its ability to revolutionise financial processes through data management. This capacity enables clients to optimise operations, boost efficiency, and attain heightened accuracy in their operations. Leveraging advanced data analytics and management techniques, DATAMARK has effectively addressed complex challenges within the finance sector. Among DATAMARK’s notable accomplishments is its role in streamlining the bank reconciliation process for a Fortune 100 company with a global presence. Hindered by the loss of experienced accounting personnel, the client faced persistent issues related to unresolved debts and credits across numerous accounts. Recognising the need for comprehensive resolution, DATAMARK’s business engineering team undertook a meticulous Business Process Analysis (BPA) utilising the Lean Six Sigma framework. By conducting in-depth data analysis and process mapping, DATAMARK standardised the bank reconciliation workflow. This standardisation introduced clear ownership and accountability, successfully reconciling millions of dollars and over 100,000 transactions per month. To enhance efficiency further, DATAMARK recommended its near-shore BPO facility in Mexico. This solution fulfilled the client’s cost-containment requirements and facilitated continuous improvement and process automation. DATAMARK’s specialism in data management also proved invaluable in automating manual tracking processes for a U.S.-based regional bank. The client sought a transformative solution to the challenge of manually updating data across numerous spreadsheets managed by over 100 employees. Following exhaustive data collection and time studies, DATAMARK developed an automated production tracker to eliminate manual intervention. This innovation prevented revenue loss, streamlined report generation, provided real-time data for deliveries and SLA management, facilitated accurate bonus calculations, and enhanced billing report precision. The automation empowered the client to generate real-time reports for informed capacity planning and effective SLA management. The tool significantly reduced monthly data uploading efforts by at least 200 hours, elevated billing data accuracy, and improved bonus calculation precision. Through this initiative, DATAMARK enabled the bank to achieve optimal operational control, ensuring efficiency and productivity. Acknowledging its remarkable strides in data management and analytics, DATAMARK received the esteemed Best Business Data Analytics & Management FinTech Solution Award this year. This accolade is a testament to DATAMARK’s leadership as an innovative solution provider, propelling the success and growth of its global finance industry clientele. Ultimately, DATAMARK’s trajectory, from its modest beginnings to its status as a global data management leader, underscores its dedication to innovation and excellence. DATAMARK empowers finance giants to realise operational efficiency, cost savings, and unprecedented success by delivering transformative solutions such as streamlined bank reconciliation and automated workforce tracking. DATAMARK continues to reshape the future of data management and analytics, empowering finance giants to achieve unparalleled efficiency and success. Company: DATAMARK Inc. Web Address: https://www.datamark.net/
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