Shaza beidas 2014
1. What problems did First Union and Wachovia face when they merged? There were two problems when they merged. The first problem was that the staff couldn’t reprogram the software generate new incentive programs and model some alternative scenarios. The second was the system needed manual reporting and also subject to frequent data entry errors. 2. What solutions were available to Wachovia to solve its problems and meet its goals? In order to solve the problems and meet their goals, Wachovia works to monitor the quality of customer service by sending mystery shoppers for the assessing the service skills of the employees. Additionally, Wachovia tended to choose Callidus Software's TrueComp system for bank's new enterprise incentive management solution. 3. What did the TrueComp EIM system do for Wachovia?
Wachovia used TrueComp enterprise incentive management which allows it to automate its compensation programs in a very easy way. Additionally, this software traces thirty one various incentive plans for more than 25,000 employees by putting into consideration certain factors like for example customer satisfaction, investment referrals, loan referrals and also credit card sign-ups. Also, TrueComp tends to be combined directly with bank's sales application that is known as SOLD. 4. How did the system benefit the business?
Investment in TrueComp pay for itself in only one year if such system minimizes the number of reward overpayments by 5%. In addition, TrueComp's modeling capabilities are more valuable. Although, the system shows the bank if it is more profitable for awarding bonuses for referrals, or customer service ratings and opening new accounts. 5. Do a research on the Information Systems/technology used by Wachovia? What is your assessment of your findings? It has been indicated that Wachovia has used content technology works as an industry initiative which is conducted for the purpose of...
References: Mildenberg, D. ( 2004). Wachovia IT division is focused on cutting costs, Charlott Business Journal, http://www.bizjournals.com/charlotte/stories/2004/05/03/story8.html?page=all
Goudreau, J. ( 2012). Social-Networking Sites, Bloomberg Businessweek, http://www.businessweek.com/debateroom/archives/2007/08/social_networki.html
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