PROCESSING OPERATIONS SERVICE QUALITY NQR's Processing Operation Review Service analyzes the accuracy and timeliness of transactions processed by financial service organizations including mutual funds, variable annuities, 529 tuition plans, defined contribution plans, and bank clients. Accuracy rates are provided for each transaction type, along with overall accuracy and timeliness results. These results are then compared on a quarterly basis to NQR Industry Benchmarks. Our statistically reliable process is continuous and reports findings at 95% confidence levels (±1.5%). Processing Operations Service Quality can be customized to adapt to client needs. Quality Criteria NQR's analysts review all transactions generated by a particular customer request. For example, if a client sends in a request to establish a New Account and also requests an Address Change on an existing account, both transactions are reviewed. Transactions are classified as Financial (New Accounts, Exchanges, Redemptions, and Purchases) or Non-Financial (New Accounts, Transfers, and Account Maintenance). NQR then identifies the exceptions for each transaction. Identifying the number of accounts affected by financial or non-financial errors determines the Financial and Non-Financial accuracy rates. Common error types include: Financial errors Non-Financial Errors Trade date Address errors Wrong amount Registration errors Wrong account Incorrect coding NQR reviews all exceptions with the client’s management team prior to final reporting to ensure that NQR properly interprets operating policies. Findings are stored in a relational database that is used to analyze performance and develop competitive comparisons. These data can be used to assess client strengths in the transaction process as well as to identify opportunities for improving performance. Return to "Products & Services"