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Uae Exchange
Uae Exchange
Operations:
UAE operations into 6areas: Dubai I, Dubai II, Abu Dhabi I, Abu Dhabi II, Sharjah
and Northern Emirates. Each area consists of 10-15 branches and is headed by an Area
Manager. There are 3 types of UAE exchange branches according to Demographic trend
of customers,
• Street Branches - General customers
• Mall Branches - Foreign Tourists Regarding the location of
customers
• Labor Campus Branches – labor Customers
For these branches the type of customers are different, their need of transaction
also differs. We have to change the working operations, regarding their need.
Timings of Customers:
According to the Statistics given in Exhibit (5) and Exhibit (6) in the case, from
2005 only number of branches started to increase. In 2008, Jan – 55 branches was there
and the average transaction is 20289, and at the end, Dec – 68 branches but the customers
increased to 30292.
According to calculation (Appendix C) there should be 82 branches to attend the
30292 customers, certainly it is efficient work by the UAE Exchange. From this I come
to the conclusion that UAE Exchange can do work efficiently but at the same time there
might be crowd in the Exchange house. To reduce that crowd and to retain that customer,
I suggest the following suggestions that can work with low number of branches.
Suggestions:
Labour Customers Crowd:
In branches near Labour campus surely there will be much rush on salary day, all
labors working in different companies get salary on that day evening and try to send the
amount on the same day to their families who are in different countries. That makes
heavy crowd and long queue leading to thinking of hassle to pay money.
To avoid over crowding and long queue following suggestions are tabled:
If the companies give the salary to the their labours in different days, like
company A on 28th and company B on 30th and company C on 2nd, it will be easy to
labours to send money with hassle free mood. This will make loyal to their company.
This welfare will make the labours loyal to the company and it will keep that
customers attached with the UAE Exchange.
Most of these labours are with minimum level of education, thus they will
hesitate to use digital way of transaction by own. So their only preference is to go directly
to Exchange house and remit money and even they think that the same money paid by
him is get transferred to their family. Since in most of the family their salary is the only
source, they want to send the money as soon as they got the salary. On that salary days,
there will be more crowd in the exchange house, so the employees of the UAE Exchange
should be scheduled correctly and assign optimized customers on that peak days.
The next step is to reduce the queue; UAE Exchange can use the OPTI – QUEUE
(Teller Referral model kiosks) system, in that customer come to that OPTI – Q dashboard
and swap the gold card given to him(self Service Technology). Then it will show the
services of the UAE Exchange, they have to choose their preference like country to
transfer money and option goes on. They have to choose their preference and according
to their preference they will be assigned to the particular service officer.
Example: Swapping the Gold card click Remittance service Xpress Money
Transfer Receiving country Sending Amount Slip
In that Slip, there should not be merely counter number; there should be name of
the service officer, who is assigned according to his preference.
Example: If a labour from Kerala wants to access Exchange, the officer assigned to him
should know Malayalam. If that slip shows these details, customer will get more attached
to the UAE Exchange. This increases the customer relationship.
This OPTI – Q operation will help the customer to get advanced knowledge and it
paves the way for internet accessing by the labours. Customer’s savings account can be
attached with UAE Exchange, and then it will easy to transfer money from their account
itself. Exchange house should educate the labour customers about digital sending of their
money and make them to use the Net Transfer.
Gold card is not only useful to get the customers detail easily, it also gives the
customer prioritize. They are prioritized more than non-gold card holder. If a customer
accesses the exchange house for more transaction with more margins of money, he will
become a VIP customer as such incentives and discounts will be given to them according
their transaction. This will make more attachment with UAE exchange.
Real Illustration:
General Customers:
For that Net Transfer system, UAE Exchange area manger has to take steps
regarding the safety transfer. Well developed technology should be used to transfer.
Exchange house has to give immediate response regarding the safe transfer of their
money by giving SMS through mobiles. This will increase the confidant level of the
customer that they worked out the transaction correctly and their money has been sent
correctly to their recipient.
Foreign Customers:
In both the products of the Foreign Exchange service, the customers should be
personally present in the exchange house. For them Quick transfer is the main service.
They may or may not be UAE Exchange subscriber. So they can’t access that OPTI-Q
dashboard. In mall Branches the main customers are Foreigners, So in Mall Branches
there is no need of these OPTI-Q dashboard.
Conclusion:
Mr. Pramod has to consider these points
• “Service is our Currency” .The customer and the service should be the two
Parallel railway lines of the UAE Exchange.
• UAE Exchange should focus on the demands of customers and do the service to
satisfy them rather than simply increasing the branches.
• Efforts should be taken to Implementing the system of Payment of salary on
different dates by the companies.
• UAE Exchange must increase the efficiency to attend the growing customers,
through sophisticated technology and munificent manner
• Going digital way, reduce the waiting time of the customers and also fast
transaction of money will make the customer fully satisfied.
• Both general and labour Customer can do that transaction within minutes.
• Educating the customers according to the advancement by UAE Exchange.
Appendix A)
Appendix B)
• Remittance and Funds Transfer
Appendix C)