The client, a mid-market specialized mortgage lender with their business portfolio comprising origination and servicing for MSRs was looking for a strategic partner in their growth journey, to uplift customer experience, and digitally transform the overall loan servicing operations. The strategic priorities for the client were – Significantly increase digital self-service, improving customer NPS, and improve mortgage operations productivity.

Incedo’s modern and intelligent SaaS solutions based on cloud, automated workflows, and AI-driven personalization have helped the client achieve improved efficiency, agility, and scaling while being able to respond to new opportunities and unanticipated situations, such as the COVID-19 pandemic. Incedo’s solution benefitted the client with:

straight through processing

70-90% straight through processing

increase in self service

23% increase in self-service

cost optimization

35-45% cost optimization

Payer contracting is a key function for any life sciences organization to ensure their drugs have the desired Market Access against its competition. Across the next 5 years, the gross contracted sales market expects to grow from $ 120B USD to $ 170B USD. This makes it critical for Pharma contracting team to change focus from being reactive, and shift gears on Payer Contracting, defining market access strategies and seek opportunities to make the Payer Contracting decision making accurate and efficient.

Now, the stages across Payer Contracting is long and complex with multiple questions that needs to be answered by Contracting Team, and other stakeholders – to decide if they should contract , or not? Moreover, if they decide to contract- is it going to be financially profitable? ( i.e. desired GTN, positive ROC etc.) Alternatively, is it going to be a strategic contract for the Contracting Team?

By answering, each of the above set of qualitative and quantitative questions- a contracting Team can take a decision, whether to contract, or not to contract with the Payer for the particular brand, in question. The answer to the qualitative questions rests completely on the subject matter expertise of the contracting team, but the answer to each of these analytical questions- can be provided using Reporting, Analytics and AI/ML features and state of the art- decision engine and decision science platformsImplementation of RPA, BI (Business Intelligence) & AI features across the Payer Contracting Life Cycle can improve the overall efficiency of the team from a decision-making standpoint (optimize rebate payout, improve ROC, impact pull through), but also lead to improved accuracy and speed of the overall process.

In this point of view, we will do a deep dive into the current Payer- Pharma Contracting space, the key intrinsic, and macro challenges pharma organizations have in this space (i.e. Loss of Exclusivity, PBM consolidation).  Finally lay down opportunities for Pharma, as to how AI, RPA, and Analytics can change the future of Payer Contracting Strategy for a Pharma organization.

About the Author

Debjit ghosh
Debjit Ghosh

Director – Life Sciences Solutions, Incedo Inc.

Rebate Payout is one of the biggest sources of cash outflow for any Pharma organization. With an ever changing market dynamics and pressure from Payers, PBMs and States , it is critical to have a closer look into the rebate payout process so that any leakage of revenue due to inefficiencies in the Rebate Validation and Reconciliation Process can be reduced. Even a 10% improvement in reducing leakage can lead to an overall cost savings of billions of dollars for the Pharma Industry.

In the POV sections, we will try to understand the Pharma Rebate Payout process in more detail and highlight opportunities for Pharma as to how AI, RPA, and Analytics can be utilized to optimize their Rebate Adjudication Process and in turn lead to cost savings for the industry.

Key Area of Impact: Pharma- Commercial

About the Author

Debjit ghosh
Debjit Ghosh

Director – Life Sciences Solutions, Incedo Inc.

When the GDPR became a law in Europe, American companies not doing business in Europe heaved a sigh of relief that they did not have to comply with the stringent requirements laid out in the law. However, as Arab spring showed us, movements have a way of spreading beyond borders. Privacy spring has now come to USA in the form of CCPA (California Consumer Privacy Act). CCPA provides protection to all California residents and lays down markers on how the consumer data can be used by various businesses. THE ACT PROVIDES THE CALIFORNIA RESIDENTS THE RIGHT to know what kind of data is being collected for them and for what purpose it is getting used.

In this whitepaper, Mr. Gaurav Sehgal (VP, Financial Services, Incedo) explains the impact of CCPA on wealth management industry and more narrowly on the impact of legislation on wealth managers. Learn about how wealth manager should approach the legislation and be prepared for its implementation.

As the race for top financial advisor talent heats up, Broker dealers are increasingly setting aside higher recruiting budgets to attract top financial advisors from their competitors. Any given month, AUM north of 500 mn dollars is moving from one broker dealer to another. The financial advisor’s first interaction with the prospecting firm is via the advisor onboarding process.

A good workflow driven Online onboarding process can deliver a transformational experience to the advisors and the home office teams can drastically cut down on the affiliation cycle times. Leveraging from what has worked for our clients (broker dealers, banks, TAMPs) in implementing workflow driven processes, the whitepaper distils the key tenets of a good onboarding system from various engagements.

Download this whitepaper to get insights into:

Investor protection framework has been a key focus area for regulators for a long time. While the Securities and Exchange Commission’s (SEC) fiduciary rule governs the financial advisors, the brokers have been regulated by the Financial Industry Regulatory Authority (FINRA) Rule 2111 (Suitability). The Department of Labor (DOL) fiduciary rule tried to create a common framework for the governance for brokers and advisors, but the rule was revoked following stiff opposition from brokers and industry groups. In June 2019, the SEC passed the Regulation Best Interest (REG BI), which establishes that broker-dealers and financial advisors need to work in the best interest of the consumer and to eliminate conditions that further a firm’s interest over a client’s interest.

This white paper will try to assess how the regulations will impact the industry, brokers, and the various systems and applications.

With a focus on customer experience and a reduction of end user pain points, our client, one of the world’s leading provider of technology, communications, information and entertainment products and services, with a presence around the world, wanted a robust system to program manage their product development roadmap and build deep knowledge of 5G iEN product portfolio while addressing challenges to accelerate 5G rollout. Incedo brought its advanced capabilities in the AI/ML to devise long term solutions that improved its business outcomes.

Learn how our solutions helped the client with:

 
cost optimization and reduction

Cost Optimization and Reduction by engineering resource optimization, superior engineering delivery and engineering depth

revenue enhancement monetization

Revenue Enhancement and Monetization through increased product innovation velocity, changing the Channel Mix and establishing an analytics and data driven enterprise – Digital and Analytics CoE with AI / ML capability

improved operations efficiency

Improved operations efficiency by virtue of Scale and Speed of Delivery

An Independent broker dealer with the second largest broker dealer network in the US, lacked executive view across the business network with the distributed data that was making it impossible to view key metrics, gain insights, and simulate “what-if” scenarios. They wanted to improve the sub-optimal mobile features in the existing BI platform while dealing with the increasing cost of 3rd party tools, high time to market for reporting requests, and poor user experience with reports.

Incedo’s blend of data warehousing, reporting, visualization, and analytics solution resulted in the following:

360 degree view firm for executives

360 degree view of firm for executives

flexible access to data

Flexible access to data and self-service at enterprise level

light fast dashboards

Light and fast dashboards

reporting self service

Reporting self-service leading to reduced ad-hoc requests to BI team

reduced cost of ownership

Reduced cost of ownership with scaling of data

reduction in overall licensing

Reduction in overall Licensing and AMC cost with new licensing model

assisted executive management

Assisted executive management to make smarter business decisions through comprehensive sets of reporting and insights

A leading biotechnology company that discovers, develops, manufactures, and commercializes medicines to treat patients with severe or life threatening medical conditions wanted to optimize the estimates for print material which were time consuming and often error prone. In order to help mitigate the chances of stockouts, minimal holding stocks, and wastage, Incedo developed a ML based forecast model, which benefitted the client through:

robust demand forecasting

Robust demand forecasting model with 85% accuracy for items

better managed inventory allocation

Better managed inventory allocation with reduced overheads and flexible access to data and self-service at enterprise level

light fast dashboard

Light and fast dashboard with real time reaction to pre-emptively adapt to market changes and variation in actual item demand

A banking and financial services conglomerate having operations in US and Latin America has a strategic vision of transforming into a “Digitally-enabled” bank to deliver a highly engaging omnichannel customer experience. They were facing several challenges in accelerating the pace of digital transformation, which made them perform sub-par on the digital metrics.

Incedo teamed up with the client, who has products and services including personal banking, corporate banking, domestic lending, and foreign exchange. On facing disruptions, the client wanted to plug the gap by a three-pronged approach.

Incedo’s digital consulting team collaborated with the bank’s retail business, digital and technology leadership teams to clearly define the problem statements aligned to their business KPI’s to translate them into a defined digital transformation approach and priorities. Incedo adopted a multidisciplinary approach combining platform with services along with a three step approach for digital transformation to impact:
2X improvement in conversion

2X improvement in conversion rates across channels

improvement digital channel

30-50% improvement in digital channel contribution for sales across products

improvement credit disbursement

109% improvement in credit disbursement driven by digital targeting

improvement in interest revenue

135% improvement in interest revenue from existing loans driven by ML driven personalized pricing

driving innovation and onboarding

Driving innovation and onboarding new use cases, while reducing cost and TAT leveraging Digital platform

inculcating advanced ML cloud capability

Inculcating Advanced ML and Cloud capability within Bank’s marketing and IT teams, to drive data science use at the bank

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