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About Us | Accounting Quisqueyana's Accounting Division consists of the Vice President of Accounting and his staff. Each staff member is dedicated to a particular business line, and performs all responsibilities for it, from journal entries and bank and cash register reconciliation to the preparation of financial statements. Using Qe, Quisqueyana's proprietary technology, the division is responsible for the daily processing of all transactions, the preparation of the company's financial statements and the implementation and monitoring of a variety of accounting controls. The staff prepares periodic reports analyzing all aspects of the company's financials for use by Quisqueyana's senior management. RQI's financial statements are audited annually on-site by Lutz & Carr, New York, according to U.S. GAAP standards. The division also prepares and submits all financial information required by our various regulators.
The Credit and Accounts Receivable Management Division, run by a Vice President and his staff, performs two principal responsibilities. First, it monitors RQI's credit exposure to its agents, according to prescribed credit limits. Agent credit limits are established based on our due diligence, including transaction volume, the agent's history with us, credit bureau reports and business and character references. These credit limits are reviewed every 90 days, or at an agent's request. If transaction volume causes an agent to exceed its credit limit, Qe automatically prevents that agent from processing any further sales until the outstanding credit exposure has been brought within the limit. Secondly, each employee is responsible for monitoring 150 to 200 agents. On a daily basis, these employees ensure the timely transfer of sales proceeds from the agents to RQI, either by ACH wire debit or delivery to a Quisqueyana bank account or branch. The employees are trained in Know Your Agent procedures and, where warranted, forward information about agents to our Compliance Division. Compliance Click here to read the description of our compliance division.
We pride ourselves on the quality of our customer service. The Vice President of Customer Service manages a team of customer service representatives, who are the first point of contact for our customers. We believe that quality customer service mandates an immediate voice response from a Quisqueyana employee. Although the bulk of customer service inquiries are made regarding money remittances and travel services, all our representatives are trained to respond to inquiries about any of our Connection Services. Through the use of live chat rooms, instant messaging and open long-distance lines, customer service representatives in New York are able to obtain real-time information about a client's transaction from representatives in the beneficiary's country, and to resolve the problem immediately with the customer over the telephone. Our representatives handle approximately 1,500 calls per day. Periodically, the division analyzes the types of inquiries received, in order to improve the initial quality of our customer service to our customers. In addition, the representatives maintain contact with our branches, agents and correspondents, to identify and resolve ongoing issues. The division also uses call customer service metrics, such as abandoned calls, to improve customer service effectiveness by adjusting staffing times and volume to accommodate our customers' needs.
Quisqueyana's success as a retail business is in large part a function of the strength of its employees. The Human Resources manager is responsible for the recruitment, hiring and retention of employees. In addition, she oversees their training, evaluation and promotion within the company. She coordinates regularly with other managers to assess staffing vacancies and to project prospective employment needs. Where possible, Quisqueyana seeks to hire from within the organization, by promoting individuals who have demonstrated the required high levels of performance and commitment. If necessary, the division advertises available positions, and coordinates the process of evaluating and hiring outside candidates. Another important function of the Human Resources Division is to foster a pleasant and encouraging work environment. In 2004, we introduced a healthcare plan for all employees, who share the cost with us. We also offer a 401K Plan. During the summer, we regularly provide employment opportunities for the teenage children of many of our staff. Once a year, we have a program to reward employees who have made significant contributions to our business during the year. Winners receive prizes such as free plane tickets to visit family and friends who reside abroad. Information Technology Click here to read the description of our IT Division.
Marketing and advertising activities are vital to Quisqueyana's Connection Services. The Vice President of Marketing and Advertising in New York coordinates Quisqueyana's advertising campaigns worldwide. Quisqueyana advertises regularly in major media outlets targeted at immigrant communities. All materials - fliers, posters, banners, art work - are created by design and corporate communications agencies, approved by the division in New York, and then produced in the target market. The division conducts regular market research, through the use of customer focus groups and surveys, in order to gauge customer satisfaction and to improve the quality and nature of our Communication Services. All community outreach activities are also directed by this division. In recent years, our marketing has expanded its focus from the Dominican Republic to the pan-Latin community and emphasizes our ability to offer Connection Services in addition to our original money transfer business. In November 2004, the division launched Qnect Connection Services and Qclub, Quisqueyana's Preferred Customer Club, the industry's first customer loyalty program.
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RQI is organized into nine divisions. Each division head reports to Quisqueyana's CEO. |
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