Bursa Malaysia Improves Customer Satisfaction by Responding to Inquiries 80% Faster
 
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Bursa Malaysia Improves Customer Satisfaction by Responding to Inquiries 80% Faster

  • Oracle Customer:  Bursa Malaysia
    Location:  Kuala Lumpur, Malaysia
    Industry:  Financial Services
    Employees:  567
    Annual Revenue:  Under $100 Million

Bursa Malaysia, previously the Kuala Lumpur Stock Exchange, was established in 1973 and listed on the Main Board of Bursa Malaysia Securities Berhad in 2005. It is one of the largest exchange houses in Asia, hosting nearly 1,000 diversified companies and providing a comprehensive range of trading, clearing, listing, settlement, and depository services. The company has a diverse set of product offerings, including equities, derivatives, offshore listings, and bonds.

 
 

 
 

Challenges

A word from Bursa Malaysia

  • “We chose Oracle RightNow Cloud Service for its robust, out-of-the box features and prebuilt data integration. With Oracle, we reduced inquiries and complaints by more than 70%, responded 80% more quickly, and improved customer satisfaction.” – Saidi Ahmad, Manager, Customer Care, Bursa Malaysia

  • Improve customer service and reduce inquiries and complaints to the stock exchange through a centralized, self-service platform
  • Enable customer care team to provide consistent responses to investors, publicly listed companies, research students, trading partners, and Malaysian government agencies, across all channels
  • Ensure accurate management reports and customer-status updates

Solutions

  • Enabled financial services customer care team to respond to phone calls and e-mails 80% faster and reduced 90% of walk-in inquiries by offering answers to basic questions online, thanks to Oracle RightNow Web Self Service Cloud Service
  • Reduced internal and external stakeholder complaints by more than 70% and improved customer satisfaction with real-time status updates and faster turnaround time for inquiries
  • Enabled customer care to provide consistent answers across all channels and shortened agent training by establishing frequently asked questions through Oracle RightNow’s knowledge base
  • Provided real-time management reports that had previously taken up to three weeks to manually update, and ensured complete accuracy of reports through automatic verification function
  • Slashed staffing costs by 40% by reducing agents from five to three due to fewer inquiries and complaints requiring intervention
  • Improved agent productivity by automating escalation and approval workflow and redirecting inquiries from job seekers and vendors, which are not the customer care team’s responsibility, to other departments through the online help center
  • Gained the ability to record, track, and escalate inquiries and complaints to customer care in a single, self-service platform, improving visibility of customers’ status through Oracle RightNow’s knowledge base
  • Enhanced customer service analysis by creating a centralized contact database to capture additional information, such as a sender’s name, something that was not possible before

Why Oracle

Bursa Malaysia considered several vendors and chose Oracle RightNow Web Self Service Cloud Service because competing solutions did not have as many out-of-the-box features, such as web self-service. The selection team felt Oracle partner Six Degrees already had a custom-made service available, while other vendors would have to customize everything the company wanted in the system, which would delay the system implementation and go live date.

“We were impressed with Oracle RightNow’s robust features and prebuilt data integration,” said Saidi Ahmad, manager, customer care, Bursa Malaysia. “Oracle RightNow has completely changed the way we run customer care. It records and tracks a large number of interactions, and provides management reports and status updates at the touch of a button for accurate and fully verified information.”

Implementation Process

Bursa Malaysia implemented Oracle RightNow Web Self Service Cloud Service for its customer care team in two months, including an internal approval process for aspects of it, like the design and ease of use.

“We chose Oracle RightNow Cloud Service because it is a proven solution that we could implement quickly. My team adapted well to the new system, requiring very little training,” Ahmad said.

The company is considering rolling out Oracle RightNow solutions to other divisions that manage their own customer service units outside of customer care.

Partner

Oracle partner Six Degrees Solutions worked with Bursa Malaysia to provide best-practice consulting services, system customization, project management, and implementation support. Six Degrees also continued to provide support after the system went live.

“Six Degrees brought strong credentials, experience, and expertise and offered services and advice beyond our requirements. We were not even considering a cloud solution, but Six Degrees submitted a strong business case for deploying Oracle RightNow on a cloud platform. Six Degrees team members convinced us that Oracle RightNow would offer significant benefits to us, and they were right,” Ahmad said.