Insights that Matter — UDM Reports

I’m born of data, a structured guide,

A tool for knowledge, a decision-making tide.

Any guesses??

Let’s dive in and know!

Today our focus is on one of the fundamental yet quintessential tools for an organization, the “Report”.

A report in its literal sense means a document/data that presents information, analysis, and recommendations on a specific topic or issue. It is often used to convey findings from research, monitor progress, or support decision-making within an organization.

And the nature of reports is that it is universally applicable to any activity, be it personal or professional. It provides insight into operational cogs of where we stand, what comes in, what goes out, and what takes prominence.

The world of DISPUTE MANAGEMENT is no stranger to reports, in fact, it gives a bank’s operation team, a much-needed insight that can be shared internally to take appropriate action.

However, the hitch in the current practice is that while most of the reports are automated in many verticals, dispute management still runs on manual Excel compilation. It is becoming a painstaking effort for dispute analysts to go through hundreds of disputes, find and narrow commonalities so they don’t overlap, and finally compile them into a report.

Sounds tiring, doesn’t it?

Well, we do have a solution!

UDM Reports- The Data Warehouse of Dispute

Before knowing all about the UDM reports feature, let us get an overview of the report's significance in dispute management.

• Provides a clear view of dispute volumes.
• Highlights patterns and trends in disputes.
• Helps prioritize which disputes to address first.
• Speeds up the resolution of disputes.
• Implements proactive strategies to prevent future disputes.
• Minimizes financial losses through effective management.
• Enhances the allocation of resources for dispute management.
• Helps in reducing chargebacks through improved management and so on…

UDM reports can do so much more in addition to the listed points above and they can be customized to suit a bank’s train of thought.

Now, moving on to the main picture!

The different facets of UDM reports are listed below and they bring data in its most traditional sense while factoring in modern artistry.

1. The Classic View

A report’s classic view depends on volume and it is often showcased as the overall weekly, monthly, or yearly view of an activity, in this case dispute. It shows the entire dispute volume that will pass through an issuer or acquirer in a fixed or custom timeline.

For example, an analyst can analyze and compare dispute patterns monthly and infer information that would help them spike or flatline indications.

2. The Category View

The second popular report would be a category filter of the activity. For disputes, it could be under the heads of the four dispute categories of fraud, authorization, processing errors, and consumer disputes.

This view can help an analyst to see where the majority of disputes stem from and the category has the least. The allocation of effort and resources can also be done accordingly.

3. The Performance Analyser

This type of report is about automation vs manual efforts of analysts. It’s a filter that will help an analyst to know the patterns that reign high, be it at a seasonal or standard level. For example, if there are too many fraud dispute cases then automation will have the upper hand, and it is a cause of concern.

Likewise, there are so many other report styles that help an analyst or manager or the entire operations team to assess the areas of weakness, improvement, and optimal behaviors.

Want to know more about UDM reports? Then get in touch with us today!