Implementing Bytecasting LMS to Empower a Global Leader in Financial Inclusion
Centralized Training Platform to Enhance Skills and Performance of Sales Agents
About the Company
The client is a global leader in consumer loans across various countries, catering to individuals with limited or no credit history. With a clear focus on financial inclusion and innovative lending approaches, the company has emerged as a trusted partner for individuals seeking access to credit card facilities.
Business Need
The rapid evolution of fintech and AI-driven solutions necessitates a workforce with the skills to effectively leverage these technologies. Also, with teams spread across diverse locations, particularly in the microfinance sector, delivering consistent training experiences can be a significant challenge. To address the evolving challenges within the Microfinance and BFSI industries, the client sought to:
- Upgrade the Training Platform: Implement a scalable, state-of-the-art LMS to accommodate growing user bases and technological advancements.
- Centralize Operations: Create a single platform for seamless data integration, providing a single access point for all sales professionals.
- Enhance Sales Support: Develop a robust system capable of addressing the queries of a geographically dispersed salesforce and providing timely access to current and emerging offerings.
Challenges
- The client faced the challenge of efficiently training and equipping sales agents in India’s tier 1, tier 2, and tier 4 cities.
- The dispersed nature of Salesforce hindered traditional learning approaches, leading to knowledge gaps and delays in query resolution.
Our Solution
- Firstly, we launched an MVP LMS to facilitate the transition from an older to a newer LMS and to cater to the gap time that was coming during this transition.
- We leveraged our business analysis expertise in SYNC with the unique features of Bytecasting LMS, such as tailored training modules and efficient query resolution, to precisely address and exceed the client’s specific requirements.
- We provided a centralized platform accessible across mobile and desktop devices, ensuring seamless onboarding and deployment of customized training modules.
- Our solution also included advanced reporting capabilities tailored to the client’s requirements, enabling effortless extraction and analysis of employee training data.
- We also enabled our platform’s ‘Learn and Earn’ feature, which transformed the entire learning experience into a motivating and rewarding user journey.
Benefits
- Since implementing Bytecasting LMS in 2019, more than 3 lac employees have been onboarded and offboarded, and 35000 active users are currently engaged with more than 1000 training modules.
- Our LMS has facilitated effective training for over 1 lakh field agents, resulting in a 40% increase in the client’s business across India.
- With the implementation of Bytecasting LMS, sales agents experienced a significant 39% improvement in their skills and confidence. The interactive training modules provided a deeper understanding of products, sales tactics, and customer engagement strategies.
- The ‘Ask an Expert’ feature also enabled employees to seek expert guidance promptly. This feature helped boost individual performance and led to a more self-sufficient workforce.
- Points and incentives earned by employees for completing tasks, passing assessments, or participating in discussions resulted in higher retention and improved performance levels.
- Introducing the ‘Learn and Earn‘ feature on our platform led to a remarkable 45% increase in employee participation in training programs. This innovative feature motivated employees to engage more, fostering a competitive learning environment.
