4-page Case Study - Posted 4/29/2013
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Outreach one-stop asset management service with Windows 8-based tablet PC
||We thought that it would be better in terms of work efficiency to provide the same user experience to our sales force in and outside the office, rather than have them experience different operating systems on different devices, like
in having a desktop in the office and a tablet PC or smart phone outside. That really gave us the mandate we needed to move forward and adopt a Windows 8-based tablet PC
| Park Myeonggu
Work Innovation Team Manager
In early 2013, Korea Financial Investment Association announced the "criterion on good practice of e-document management for the opening and sales of financial investment accounts". This soon led to an uptick in competition among stock firms through the
outdoor sales channel.
If anything, the economic downturn has only sped up the turn away from traditional brokerage service offerings provided by stock firms. Against this backdrop, it is perhaps little wonder that there has been such overt interest in developing outdoor sales
channels. The asset management service has suddenly become a new source of profit for the business. Perhaps aware of the changing business and technological environment, the financial authorities recently moved to permit the opening of an account via a mobile.
Needing no second invitation, the asset management bandwagon is now overladen with firms seeking to provide account services via the mobile, cutting out those old slogs to the office.
As of April 2013, Mirae Asset, Hanwha Investment & Securities, Shinhan Investment Corp and NH Investment & Securities are among the leaders in the outdoor sales service market. Their services are almost identical, with a negligible difference in the way
that sales reps visit customers and help them open an account using e-document and e-sign on their tablet PCs.
Amongst all the market white noise, there was, though, one company standing out head and shoulders above the rest in terms of how IT is utilized: Mirae Asset.
What usually happens is that Android-based tablet PCs are doled out to a company’s sales force, while its IT department develop and distribute an app for outdoor sales. Mirae Asset, though, took a different approach with Windows 8.
At first, though, Windows 8 was not exactly on the radar. In latter 2012, Mirae Asset planned the development of an e-sales system named Smart Maps in order to strengthen its competitiveness in outdoor sales and submitted an RFP (Request for Proposal). By
the time the company presented its RFP, it, too, opted for an Android-based tablet PC model as a mobile device for Smart Maps to be provided to its sales force.
However, while going through proposals from several e-document service providers, Mirae Asset learned about the official launch of Windows 8 and reexamined its choice of device.
“We thought that it would be better in terms of work efficiency to provide the same user experience to our sales force in and outside the office, rather than have them experience different operating systems on different devices, like in having a desktop
in the office and a tablet PC or smart phone outside. That really gave us the mandate we needed to move forward and adopt a Windows 8-based tablet PC”, said Park Myeonggu, Work Innovation Team Manager at Mirae Asset.
In November 2012, Mirae Asset made its final decision to adopt Windows 8-based tablet PC as a user device for outdoor sales. There was a smooth transition in choosing the device model because of the plethora of Windows 8-based tablet models that were pouring
into the market. It was harder, though, to find the kind of models that would fulfill the “criterion on good practice of e-document management for opening and sales of a financial investment account” set out by Korea Financial Investment Association.
Mirae Asset finally settled on Samsung Electronics ATIV Smart PC Pro model, not the market-leader, the Android-based Samsung Electronics Galaxy Tab 10.1. When making e-document or e-sign, customers need to have a pen as an input tool, making Galaxy Tab 10.1
model’s S-pen perfect for this purpose. Aware of the importance of having a pen as an input tool, Mirae Asset selected ATIV Smart PC Pro, as it also supports S-pen.
The reason behind Mirae Asset’s choice of Samsung Electronics ATIV Smart PC Pro model with Intel Core i5 processor was that it would provide a better user experience when customers are making e-document and e-sign.
“We chose a high-specification model in order to cut out any inconvenience to customers due to slow processing speed when providing the service like consulting or opening an account using tablet PC," said Manager Park Myeonggu.
After choosing the device model, Mirae Asset implemented its strategy on e-sales system with the assistance of e-document service provider, for the development of a client application and management of the device. The system implementation project was carried
out as planned because the business does not change depending on the operating system on client machine. The client project needed some changes as the operating system was switched from Android to Windows. However, there was no pressure on this matter as it
was to develop an application for Windows as usual, rather than developing software for a platform in which the company had no prior experience.
Establishing the device management strategy also went smoothly. With Windows 8, the company did not need to adopt something new or set a policy, but could instead just use the existing desktop-related security policy and helpdesk support. In general, when
a tablet PC is provided for business purpose, a Mobile Device Management solution is used to handle security and helpdesk. As Mirae Asset uses the device with the same operating system as the desktop, the company did not have to set separate management milestones
for its tablet PCs, but could instead use the existing enterprise desktop security and management policy and tool.
After the successful implementation of the system and client application, Mirae Asset announced in February 2013 the official launch of Smart Maps, its ambitious e-sales system designed for outdoor sales. As Smart Maps is deployed in actual outdoor sales
activities, Mirae Asset was quick to reap the benefits of having the same operating system on both its desktop and tablet PCs. In terms of change management, having the same operating system on mobiles and desktop provided a much friendlier user experience.
Meanwhile, Mirae Asset’s Smart Maps is recognized as a new innovation and has become a benchmark among IT engineers in the financial sector. In fact, the company was flooded with inquiries from IT engineers in the financial sector after launching the service.
“Many wanted to know how system and client were implemented after watching a demonstration of opening an account on the Windows 8-based tablet PC. Among them, there was a stock firm that switched from Android-based device to the Windows 8-based tablet PC,
just as we did”, said Manager Park Myeonggu.
Outreach ‘one-stop' service
The biggest difference before and after Smart Maps was found in its outdoor sales workflow. Mirae Asset was able to provide an outreach account-opening service for those customers who are too busy to otherwise pop into the office. In the days pre-Smart Maps,
account opening was a long and often tiresome procedure.
The first stage was having a customer call the office and arrange an appointment to come in and open an account. Then, a sales person printed out all related documents and went to see the customer. After the customer filled out all the documents, the sales
person went back to the office, entered the information into the system and sent a confirmation letter to the customer. While doing so, the sales person had to make two calls: first to check whether the customer received the letter; and second, to give guidance
on the account that had been opened. Likewise, this outreach service not only took a long time, but meant a heavy workload.
With the launch of Smart Maps, such troublesome procedures were simplified into a one-stop system in which the sales person can do everything at once when visiting a customer. In other words, the sales person can service everything on the spot, from opening
an account to HTS or MTS installation, ID registration and the issuing of accredited certification.
“Smart Maps enabled the outreach service with no documentation required. It now takes much less time to open an account as Smart Maps allows the sales person to enter the information into the system right there and then. As a result, both customers and sales
personnel can save precious time”, said Manager Park Myeonggu.
Expecting increase in sales with Windows
Sales personnel working at Mirae Asset branch offices across the country expect Smart Maps to help them surpass their sales records in terms of opening new accounts, as there are no restrictions on visiting customers or providing the service to them because
business systems designed for desktop are available on tablet PC in the form of a mobile app.
“When working outside the office, a Windows 8-based tablet PC can be very useful at time in terms of two points: first, from the perspective of the sales personnel, the tablet PC can be used to search for information from systems located in the office when
meeting customers outside the office. Second, having a tablet PC is useful in providing information about opening an account or financial instruments to customers, as you can guide them while both looking at the same things on the screen together", said Manager
In other words, a more extensive asset management service can be provided to customers, rather than a simple account-opening service. The necessary information can now be provided to customers right at the point of greatest need.
The extended use of table PC as a mobile office unbounded by time and location
Mirae Asset plans to continue to improve the service in a way that tablet PC can suit various applications, aside from opening an account. With Windows 8-based tablet PC as its choice of user device, Mirae Asset decided to widen the functionalities and role
of Smart Maps. In the financial sector, tablet PCs are usually the exclusive preserve of outdoor sales reps, with limited functionality such as opening an account. Mirae Asset, though, has opened up a new vista for tablet PCs as the new mobile office – and
that’s in no small part thanks to Windows 8.
“The purpose of Smart Maps development was to build the infrastructure for a one-stop asset management service in which asset management consulting, account opening and the purchase of financial instruments could be offered to customers by sales reps directly.
We will extend the service to personal customer by an agent and corporate client through continuous improvement and upgrade to thus provide more various services - purchasing and dealing financial instruments", said Manager Park Myeonggu.
Mirae Asset expects that it will take not much time and cost to achieve this goal. After all, compared to other stock firms, Mirae Asset needs less time and cost to re-develop the critical system to be available on a mobile environment.
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For more information about Mirae Asset ’s products and services, call 82-1588-9200 or visit the website at: