StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Create an Excutive Summary - Essay Example

Cite this document
Summary
Reno municipality, a four-service utility located in Reno Colorado, provides electric, gas, water, and wastewater services to a community of 430,000 residents. Its major work involves processing of a variety of payments by checks, credit card, electronic banking and via cash,…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.7% of users find it useful
Create an Excutive Summary
Read Text Preview

Extract of sample "Create an Excutive Summary"

Outsourcing Remittance Operations Make or Buy Decision Outsourcing Remittance Operations Make or Buy Decision Reno municipality, a four-service utility located in Reno Colorado, provides electric, gas, water, and wastewater services to a community of 430,000 residents. Its major work involves processing of a variety of payments by checks, credit card, electronic banking and via cash, means to its customers. Up to 49% of the utility payment is via electronic means, using bill pay services offered by the customers’ financial institutions, while the remaining 51% is done via a combination of check, credit card, and cash.

The municipality is seeking to outsource for a company to take over the utility payments processes in relation to its budgetary provisions by a competitive bidding process. After conducting a feasibility study of the costs savings by the company, it was found out that the company saves more by deciding to outsource than to insource these services. The benefits of outsourcing far outweigh those of insourcing, by up to $ 579, 523 in savings. These savings come from freeing up of municipality assets, savings from training the municipality’s own employees, improving core business functions due to reassignment of personnel and benefits from lease of excess space.

There are various reasons as to why the municipality seeks to outsource for these services. Costs for upgrading maintenance of the new equipment and new technology are absorbed by the outsourced company, costs savings in paying the employees and utility and office space expenses, and improved customer services. However, the municipality is faced with a number of risks if it decides to outsource for these services. Confidentiality of the municipality’s customers might be breached, the quality of services offered could reduce, and the company contracted could close suddenly as well as the municipality losing its control over the collection of scheduled payments.

The qualifying agency will take over the utility’s responsibility of processing payment data and convert it into billing statements that will be delivered the customers by the agency in a timely manner. The contracted agency will also be responsible for sending the billing statements to the customer by either electronic means by the use of emails, interactive website billing method, or by mailing hard copies of the bill statements to the customers. The agency will also track payments by the customers and reporting the customers who do not pay.

Collection of payments from the customers will be done by the same agency, and will provide the municipality’s customer account database, also known as the “Customer Information Systems” with the current and regular transmission of information on account remittances. The agency will also have the responsibility of maintaining a customer service centre, which will be equipped with internet site and a live customer support telephone to answer billing support questions, new service requests, and resolving issues that might arise during the course of work or during emergency times.

This service centre will be operational for 24 hours in day with at least one live representative in office at all times. The contracted agency will have to avail the bills to the customer within two business days after receiving the billing data from the municipality. The agency will then provide the municipality with verification of payments received by the last day of the reporting cycle, which will base on calendar days, with the first day of the month being the day that the data will be provided by the municipality.

The performance standards requirement of the successful company is ensuring delivery of quality services to the customers, which the municipality will evaluate according to set rates. Payments to the company are set at 2% of the total revenues collected. However, in the event that the company underperforms, it risks a penalty of up to 25%, while an outstanding performance is set at 2% or at $ 50,000. The terms and conditions of the contract will be provided to the qualifying agency on the award of the contract.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Create an Excutive Summary Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Create an Excutive Summary Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/management/1618149-create-an-excutive-summary
(Create an Excutive Summary Essay Example | Topics and Well Written Essays - 500 Words)
Create an Excutive Summary Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/management/1618149-create-an-excutive-summary.
“Create an Excutive Summary Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/management/1618149-create-an-excutive-summary.
  • Cited: 0 times

CHECK THESE SAMPLES OF Create an Excutive Summary

Means of Company's Driving Superior Shareholder Value

nbsp;  … Only operational measures should be used in measuring performance since these measures focus on the activities that create value in the organization such as focusing on customers, employees, and quality control.... Both operational and financial performance measures were necessary if a company wants to create sustainable value for its shareholders.... I also focused a bit on how shareholders could align their interests with those of shareholders since present compensation plans such as the granting of stock options to CEOs have been unable to motivate managers to create value for shareholders....
7 Pages (1750 words) Coursework

Career Management Program

The report “Career Management Program” consists of five concise recommendations that have been felt required to take Vision Plus Limited in the right track of growth and sustainable development.... The report also has a dedicated section of justification of such recommendations.... hellip; The present status of the company has been analyzed with the background of the organization....
8 Pages (2000 words) Assignment

Nordstrom Unique Selling Proposition

Reeves (1950) was the first scholar to talk about a unique selling proposition and he defined this into three parts: (1) each product must make a proposition to its customers, (2) the proposition must be one that the other competitors in the market do not offer, that is unique;… A company's USP can take form in four different ways: By being the price leader, through differentiation, focus on a specific niche and extra value proposition (Warner 367-369)....
2 Pages (500 words) Assignment

Summary and Conclusion to executive audience

It provides the Running Head: summary and Conclusion to executive audience summary and Conclusion to executive audience summary and Conclusion to executive audienceSummary Riordan Manufacturing being the industry leader is considering the implementation of database project which would provide innovative solutions to their customers; provide an innovative collaborative environment, keeping employees well informed and enabled to focus on the company's financial and human capital growth....
1 Pages (250 words) Essay

Performance of The Computer Galore Company

The Executive summary Executive summary The Computer Galore Company deals in the repair and supply of computer parts.... The company intends to create a niche in the computer retail and service industry by providing customized computers as well as providing repair service at a significantly lower cost than competition delivered through an unparalleled customer service....
2 Pages (500 words) Essay

Executive summary

This can be achieved mainly by introducing new… Our vision is to be world's most customer centered company; to bring up a place where people can come to discover and find something that would save their lives, prevent injuries and protect the Executive summary-Gripper Company The world is changing all around us; in order to thrive in business over many years, we must look ahead and understand the trends and forces that may shape ours business and move swiftly for the preparation of what is to come....
2 Pages (500 words) Assignment

Executive Summary for the Automated Banking System

On the contrary, the idea of A Critique Analysis of PNC'S Executive summary The executive summary of PNC bank is interesting and attractiveto the reader.... In conclusion, their executive summary is well stated and it has a new sense of adding what does not exist in the banking sector.... It would solve real world problems because it would create convenience for their customers to transact without the need of visiting the bank....
1 Pages (250 words) Essay

Marketing Elements Application by Old Navy

As a means of enhancing the product aspects, the company blends techniques such as Table of Contents Executive summary Product 2 Place 5 Promotion 8 Pricing 11 Recommendations 14 Executive SummaryIn the context of marketing, the four elements of; product, place, promotion and pricing are essential in facilitating effectiveness of sales strategies.... This has helped create a brand the resonates strongly with families due to the wide range of options available....
15 Pages (3750 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us