Published on December 14, 2023
In its quest for excellence, Mjunction has identified multiple areas to benchmark and upgrade its existing processes, such as sales cycle efficiency, knowledge management, NPS, risk management, and CSR. To assist mjunction in its endeavours, during FY24, Tata Business Excellence Group (TBExG) scheduled interactions with Tata Technologies, Tata Elxsi, Tata Capital, Tata Consulting Engineers, and Tata Communications. Mjunction could pick up nuggets of information from these sessions to improve its existing processes.
Sales cycle efficiency
Mjunction has a long sales cycle, from prospecting to billing, that takes about 50 to 60 days. Most of the revenue share comes from promoter clients, though a structured approach to managing non-promoter clients is lacking. After learning from Santosh Singh, EVP, Global Head, Marketing and Business Excellence, Tata Technologies, on key account management, mjunction took up two cross-functional projects. The first is to improve the efficiency of the sales cycle, and the second is to create an account management model for non-promoter clients.
The sales process has been revamped, and new KPIs have been taken up in the areas of qualified lead generation, prospecting, solution mapping and proposal submission, negotiation, agreement sign-up, customer handover, service delivery, and revenue flow. Further, a new process has been created for account management. This upgraded model has helped in increasing the acquisition of new non-promoter clients in Q2 FY24 to 19 vs. 12 in the previous quarter.
Knowledge management
Mjunction wanted to create a knowledge management framework for the organisation and roll out a plan for the dissemination of knowledge. To assist mjunction, TBExG facilitated a session with Mohan Kumar Narayanan, AM, Knowledge Management, Tata Elxsi. Leveraging acquired insights, Mjunction has developed its KM platform using MS SharePoint and successfully launched it. The platform incorporates relevant knowledge pieces, and features such as submitting new ideas and providing feedback have been seamlessly integrated. Additionally, KPIs such as the number of knowledge pieces uploaded, monthly unique users, and number of downloads have been instituted.
NPS
Mjunction has been collecting customer feedback through different modes for the last few years. However, these programmes did not provide a holistic voice, and due to the lack of uniformity in feedback, a clear pattern of customer satisfaction was not visible. In 2022, Mjunction conducted CSAT using the NPS methodology, supported by TBExG. Thereafter, based on learnings from best practice sharing sessions on NPS by Santosh Singh, EVP, Global Head, Marketing and Business Excellence, Tata Technologies, and Uttam Soni, Head, Business Excellence & Office of Strategy Management, Tata Capital, the company could implement segmentation of the database and coverage of relevant stakeholders. Post-improvisations, the NPS score for the top three businesses at mjunction has gone up to 95 in FY23, against 90 in FY22.
Risk Management
Mjunction wanted to create a checklist of risks to be considered before launching a new service or signing a new contract with customers. To support Mjunction in its improvement endeavours, TBExG facilitated a best practice sharing session with Rajiv Tanna, Head, Risk Management and Internal Compliance, Tata Consulting Engineers. Based on the insights gathered, Mjunction could create a risk assessment process for signing a new contract. This process includes a ‘general terms and conditions’ document, a ‘deviation sheet', and a ‘contractual risk evaluation checklist’ that allows scope for foolproofing the service before launching it and signing a new contract.
Employee Volunteering
Though Mjunction has an impactful CSR programme, its people participation had reduced significantly during the years 2020 and 2021. To assist Mjunction, TBExG facilitated a best practice sharing session with Pallavi Barua, AD - Tata Communications. Based on the learnings from the session, Mjunction has created a matrix for identifying new volunteer projects and mapping them with its employees. Over 200 employees have expressed their willingness to volunteer in projects covering education and employability so far. A digital interface has also been created through which employees can choose projects of their liking.