Head HR at Innoviti Payment Solutions
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Innoviti Payment Solutions - AVP/Senior Manager - Service Assurance (10-12 yrs)
About Company -
Five years back if you had bought something from a Reliance store and paid through a card, it would have been swiped on a bank machine. Today you will find an Innoviti machine there. Not just in Reliance but in 2 out of top 3 retailers in India and 3 out of 3 wholesalers in India you will find Innoviti machines. Why is that ?
Traditional payment channels built by banks are good at moving money. However, they are not effective in moving information related to the transaction. Innoviti has created a multi-sided payments platform that in real-time can add intelligence to traditional payment channels making them more valuable to various parties involved in a transaction. These channels are delivered through offline POS terminals.
The company started in 2002 and pivoted to the payment's platform business in 2008. Today the company processes over 3.5B$ worth of payments annually from 800+ cities - about 5% of all offline payment transactions of India. The company has marquee brands such as Reliance Retail, Landmark Group, Indigo, Inox, PVR, Titan, ABRL, Walmart and others on the platform. Besides this over 20 banks including HDFC, ICICI, Axis, SBI, HSBC, Citibank, Amex and others are on the platform. The company raised a Series A in 2015 and since then has grown at a CAGR of 50+%. The company today has deployed more than 60,000 POS machines and drives an ARPU (Average Revenue Per Unit Per Month) of 10$ that is 2.5X of the country's average delivering a 65%+ gross margin.
The capability to add intelligence attracts businesses of various kinds to join the platform for different benefits.
Merchants join it to add billing information to the channel that helps them in better control and reducing back-office operations. They form the anchor customer for Innoviti on the platform which then attracts other types of businesses, these are:
- Brands who sell their products to these merchants. They join to drive preference through tightly controlled promotions, driving better returns on their marketing investments.
- Acquiring banks who want to access payment transactions happening at these merchants: They join it to save on their fixed infrastructure investments by participating in a shared infrastructure at a variable cost. They also benefit by being able to select which transactions they would like to process to improve their profitability.
- Payment instrument providers such as wallets and employee benefit providers, who want to access customers coming to these merchants: They join to access and drive preference for their instruments with the customers buying at these merchants.
- Lenders such as credit card issuers, banks and NBFCs: They join to offer attractive loans against purchases to customers buying from these merchants at a lower cost and risk.
Each of these parties joining the platform in turn benefits the merchant enhance their sales, creating a network effect. This unique multi-sided platform is today automatically attracting more parties by the day to join and make the platform thicker.
The company's business model is to charge for every transaction happening on the platform. Since a transaction may benefit multiple parties at the same time, each party pays for it, driving higher ARPUs.
The core technology elements of the platform deal with making the platform thicker, more reliable and faster. Towards this the company used its Series A funding to focus on three technology elements - speed, reliability and flexibility. The platform today processes transactions at an average of 3 seconds vs industry average of 7 seconds. Its reliability is at 94% vs. an industry average of 82%. A patented declarative rule engine allows for several hundred use cases to be flexibly designed and implemented within minutes.
Armed with the new platform the company raised a Series B in 2017 to drive business growth through an expansion into new geographies, new market segments and new use cases.
The key themes towards this are:
1. Driving distribution by making it simpler and faster for a new merchant to on-board. Towards this Innoviti has recently launched a Do-It-Yourself (DIY) product model, called - innoviti pos
2. Driving lending to small and medium merchants for their working capital. Towards this Innoviti has launched a SME lending service called - smelending.com
3. Driving international expansion of the platform to countries in Asia Pacific. Towards this Innoviti is launching a pilot in Sri Lanka.
The company's target over the next 3 years is to power 1 million units through the platform at an ARPU of 30$ delivering a gross margin of 80%+.
To drive this roadmap the company is looking for talent who are ready to do what no payments platform has done before and what every payment platform will do thereafter.
Job Designation: AVP / Senior Manager - Service Assurance
Location : Bangalore
Reporting to : VP - Service Assurance
The incumbent will be responsible for managing the call centre and tech. support team. Primary responsibilities would be to achieve the targeted TATs, deliver the customer experience as envisaged and define the work plan, resource needs, timelines, risks, budget, etc.
1) Team management:
- Team management - 24x7 call centre and tech support. Take care of recruiting, selecting, orienting, training, assigning, coaching, counselling, and disciplining employees; administering scheduling, rostering; communicating job expectations; planning, monitoring, appraising, and reviewing job contributions; enforcing policies and procedures; define KPIs and review team's performance.
- Available 24x7 for customers and team.
- Prepare SOPs for team - issues resolutions and communication templates to customers.
- Daily training and assessment of team about issues handling, resolution, customer communication, processes, gaps identified till previous day.
- Should have experience setting up regular and premium support desks.
- Support tools and process automation:
- Drive automation to track tickets generated through various sources - calls, emails, WhatsApp, etc.
- Put in place processes and constantly measure their efficacy towards delivering support in a timely manner to the customer. Ensure adherence to process, identify gaps and fix the same to improve efficiency and performance.
- Adherence to TATs and NPS.
- Responsible for customer retention once the customer is live on platform.
- Timely Service Assurance team performance report to all stakeholders - Banks, Partners, Customers, Sales and Leadership teams.
- Preparation and presentation of report to leadership team - issues, trends, frequencies, cause, risks, highlight risks, identify frictions to perform, cashiers- feedback based on audit, risk mitigation plan, to ensure targets are met.
4) Communication to customers:
Keep the communication templates ready for customers to take care of crisis. Make sure team sends appropriate communication to respective customers and internal teams.
Skills & qualifications:
- Bachelors / Masters- degree from tier 1/ tier 2 colleges.
- The incumbent will have 10+ years- experience and at least 4+ years- in the leading large call centre and tech. support teams.
- Experience in managing processes and emphasizing excellence.
- Excellent track record of building up and managing performance driven team.
- Achievement oriented, good positive energy and enthusiasm towards meeting the goals and targets.
- Excellent written and verbal communication skills.
- Excellent analytical skills.
- Extremely customer focused and having a dream to give best customer experience.
- Excellent track record of support processes improvements which improved customers- experiences.
- Good at handling stressful situations and deadline pressures well.
- Highly data-driven with a commitment to progress. Excited about driving and tracking a consistent engagement process with all customers in your portfolio in order to drive long-term customer value.
- A team player with the highest level of integrity.
- Self-starter with a proven track record of driving customer success at all levels.