Overview / About

A leading bank in the Co-operative sector with 68 branches. The Bank has made appreciable progress in the last decade of its banking operations in terms of opening of branches, mobilization of deposits, deployment of resources and profitability. The efforts of the bank to become one of the best co-operative banks can be seen by the Performance awards which the bank has received over the past years. With this dedication they look forward to new ways of improvising their services to cater to their customers.

The Challenges

With the Bank in its expansion phase it was difficult to find & track records. In 2011, it had 41 branches & records stored in 3 facilities. They were faced with the problem of tracking what records have been stored in which facility. Moreover it was difficult to access the documents as they were not stored in a systematic manner – leading to wastage of time in hunting for the records & also damage caused to the records. It took the bank representative hours to search for the records & at times they had to return empty handed as they could not find the desired record.

If the file was retrieved from the warehouse facility, there was no way to ensure that it has been returned back to the records facility. Therefore tracking of files was impossible. In May 2011, they hired Packways Logistics to Sort, Organize & manage their
records in their warehouse. The task was to improve the records management system & to ensure a permanent solution. Packways logistics surveyed the warehouses & provided a solution of off- site records storage which would benefit the bank by reducing its overheads:

  1. No Investment in additional storage facilities.
  2. Professionally managed records.
  3. Reports of every record retrieved from the records facility & the person who has requested for the record.
  4. The exact location of every file / voucher is available through a softcopy of the inventory of the records system.
  5. Better storage facility with security system, access control, fire alarm & security guard.

The sorting process enabled to Bharat bank to know which records are required to be retained & which are no longer required to be sorted. The process enabled Bharat bank to streamline their records in the manner in which the exact location is known & complete inventory is with them in their system.

Around 3000 cartons had been packed & organized in the records facility by Packways Logistics & the confidentiality is maintained as all cartons are bar-coded & there is no physical way to distinguish one carton from the other.

Result

Retrieval time has been minimized from hours to less than 4 minutes. Also physical & online inventory enable the Bank to know what files / vouchers are stored in which facility & at what location. Reports are provided on monthly basis to the head office so that they know what records have been accessed & by whom.

Today Packways Logistics helps seamlessly manage records of the Bank which helps them save time, money and resources and focus better on their expansion plans. The records have become a hassle free section for the Bank in the last 4 years & they have found all the vouchers according to their requirements. The next step of picking up records from the branches directly & packing them in the carton boxes will be initiated from the next financial year to ensure that the system is maintained & continued.