Improving the BPI multiple account opening payroll process

• Main Author: Ferrer, Justine Fernandez
• Format: text
• Language: English
• Published: Animo Repository 2018
• Subjects: Banks and banking > Philippines; Bank of the Philippine Islands
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/5580
• Institution: De La Salle University

The quality of service is crucial in the financial industry. Banks should prioritize this to ensure the loyalty of their customers. The Bank of the Philippine Islands, the company where I work for, has adopted a new payroll process to open multiple accounts faster. However, the process has flaws which cause inconvenience to BPI employees and their clients. This action research focused on the analysis of the payroll process of a BPO Company, a huge client of the bank, referred to as Company ABC all throughout the paper. In the new payroll scheme, there is lack of communication which leads to errors and confusion from BPI employees and complaints from Company ABC. Hence, this action research aims to improve the organization of the BPI multiple account payroll process through developing a monitoring template to eliminate Company ABCs complaints from 5 to 0 per cut-off and reduce e-mail inquiries and follow-ups by 50%. Our goal is to manage expectations and complaints. With the collaboration of BPI Field Sales Officers, guided by the method of Gap Analysis, the SERVQUAL model, Lewins change management framework, ethical principles and action research concepts, the process was streamlined to a more client-centric approach. Findings of the action research resulted to a significant decrease in number of complaints, inquiries and follow-ups. It also led to a faster turnaround time. Moreover, it was able to ease the tasks of the BPI employees. Therefore, it was able to decrease errors. I recommend further observation and interventions of my action research for it is possible that the results of this project may be used in similar transactions with different clients. My action research experience has taught me to be pro-active in my organization. The biggest personal fulfillment, however, through this project was the development of the initiative to create interventions to improve a process in the company. I was able to enhance my leadership, social and communication skills. I was also able to deepen my relationships with the people who have helped me reach the success of this project. Thus, in the process of initiating change through action research cycles, I can say I learned not only important skills, but useful dispositions and life changing values as well.