Polaris Financial Technology ‘Project Octopus’
Polaris Financial Technology is a provider of financial technology for banking, insurance, and other financial services. The firm was facing issues with too many silos within and across teams. A lot of time was taken up by calls and emails.
Aimed to address these pain points, Polaris embarked on a project ‘Octopus’ as a central enterprise platform which allows centralization of team correspondence, managing and tracking of teams, analytics, knowledge repository, etc, from a single space. It also allows private conversations with teams or individuals.
All this resulted in more transparency in decision making as decisions made are visible to all room members. Moreover, there has been 25% reduction in emails while the email’s volume has come down to 70% and is sent now only while interacting with clients. 99.5% mailing groups have been removed and there is 75% reduction in ramp-up time for new joiners in the projects. This has also resulted in a huge impact on employees’ productivity, which has increased by 12%.