|Accuracy/Timeliness for p&l|
|Responsiveness to issues|
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Daily P&L reportingPreparation of Profit and Loss (P&L) statement on a daily basis, reporting the end-of-day position.
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Intra-day P&L reportingPreparation of Profit and Loss (P&L) statement on multiple occasions daily.
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Other feedbackYear-on-year performance, improvements needed...
ServiceMatrix evaluates service providers and other vendors, pinpointing the improvement needed to support your business-as-usual, change and growth. Financial institutions engage directly with this single platform which is disrupting traditional in-house and third-party surveys of client service and operations.
FREQUENTLY ASKED QUESTIONS
What is ServiceMatrix?
Your platform for examining the performance of service providers and other vendors – bringing standardization, reliability and ease-of-use.
Trusted performance ratings from evaluation by prestigious institutions. Gap analysis pinpoints strengths and weaknesses across the widest universe of providers, with actionable data on what requires improvement.
What makes the ratings reliable?
ServiceMatrix asks the right questions of the right people: focused questionnaires developed in conjunction with prestigious institutions, with more than three-quarters of respondents reporting on multiple service providers, making them best-placed to draw fine comparisons in how each measures up.
How does it work?
Pick an area of interest and view the freely available high-level results. Get evaluating your service partners to qualify for the complimentary full reports.
Any service provider or other vendor can be evaluated. Of 36 rated so far, 14 currently qualify for the reports. Contribute now and this number will soon grow.
What's the scope?
Currently encompassing 10 broad service areas, do please tell us your requirements.
Can it simplify service reviews?
ServiceMatrix allows each business function in each location to report on their service partner touchpoints, consolidates the data and offers up tools to contrast service levels by geography and function.
Does it serve other purposes?
ServiceMatrix highlights the need for new services and guides you on RFP pre-selection. You can rely on ServiceMatrix as the new standard for accurate assessment of how you're being served and to bind service partners to work with you on driving improvement.
What's in it for a service provider?
ServiceMatrix rolls back time to when there was a single survey and service providers used it to identify areas for improvement: acting on them, informing clients and closing the expectations gap. In stark contrast to a sales or awards mentality, this is what clients are after and what best serves all parties. Have no fear! If you have a function or geography that gives cause for concern, let us provide a white-labelled version tailored to your requirements for your own private survey, with data not amalgamated with the public results.
Supplier governance is critical to business success: mitigating the risks of poor outcomes, detrimental to the firm and its customers – including poor service levels which do not support day-to-day business, business change and growth. ServiceMatrix delivers dependable measures of what's going well and pinpoints where you need to drive improvement.
The latest ServiceMatrix analysis is based on 6000 ratings from more than 350 qualifying responses. While service providers and other vendors have been evaluated to date, a minimum of 10 comparative evaluations by institutions with multiple providers is required for a supplier to qualify for the results. A significant proportion of responses comes from financial institutions which, in using multiple service providers, are best-placed to draw fine comparisons in the performance of their chosen partners.
Respondents to simple questionnaires score their counterparties on a range of underlying elements for one or more service categories of their choosing. Each element is rated by reference to one or more of these measures: adequacy, competence, ease of use, scope, accuracy/timeliness and responsiveness. Scoring is on the following scale:
➁ Very poor – always fails to meet expectations
➂ Poor – often fails to meet expectations
➃ Satisfactory – sometimes meets expectations
➄ Good – often meets expectations
➅ Very good – always meets expectations
➆ Excellent – consistently exceeds expectations
Noted alongside each supplier's gap analysis chart are Outperformer Awards, recognising an overall category score above the all-vendor average. For the full picture, use the accompanying table to drill down to strengths and weaknesses across a category's underlying service elements.
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