6^th Annual Edition

Reliance Capital Commercial Finance is in the business of giving out loans and requires a large amount of customer data (about 150 pages per account including applications, KYC documentation, legal agreements, etcetera, per application) to be collected and stored, in a way that' Ravulapaty devised a solution in which barcodes are affixed to different documents so that scanners know whether they need to be scanned in color or black and white, for instance. The scanned images are then indexed in six categories, allowing staff members to view all the documents related to one application on a single screen, when they punch in six-digit application number. The project has saved Reliance Commercial Finance Rs 100 crore in retrieval and photocopying costs. It has also lowered the percentage of data errors in the company's systems and allows the credit team to refer to customer documentation quickly, enabling swift decision making.