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LuLu International Exchange

 

Case Study: LuLu International Exchange achieve ISO 9001:2015 Certification

LuLu International Exchange is a non-banking financial organization and is a leading name in financial service sector, primarily dealing in foreign exchange, global money transfer and salary and wage administration. LuLu International Exchange has its global headquarters in Abu Dhabi and operates across UAE, Oman, Kuwait, Bahrain, Qatar, India, Seychelles, Philippines and Bangladesh.

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    What We Did ISO 9001 Certification Consulting & Business Process Management

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    Customer Websitewww.luluexchange.com

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    IndustryFinancial Organization

Read About

The Project

The Challenge

Starting off with their first branch in UAE in September 2009, the company today operates 126 branches out of nine countries worldwide. The various entities registered across the nine countries include LuLu International Exchange L.L.C. in the United Arab Emirates (UAE), Asia Express Exchange in the Sultanate of Oman, LuLu Exchange Company in Kuwait, LuLu Exchange W.L.L. in the State of Qatar, LuLu International Exchange B.S.C (C) in the Kingdom of Bahrain, LuLu Forex in India, LuLu Exchange Limited in Seychelles and LuLu-Phils International Exchange, Inc. in Philippines. The organization is supported by liaison offices in India, Bangladesh and Philippines to facilitate smooth functioning of the group’s remittance business operations and provide seamless service to its customers.

The Experience

The Lulu International Exchange team chose the Kelmac Group® for two reasons, one the new One Model System™ approach appealed to them and secondly experience and hand-on approach was seen as essential to the successful deployment of QMS within the Lulu International Exchange. The approach promised:

  • Alignment of business vision, strategic/business goals and the Lulu International Exchange QMS
  • Designed and developed a new strategic/business and data analytical business control system to improve business and financial controls and performance
  • Update the company-wide Human Resource System including policies, processes and procedures to change business culture based upon performance
  • Active awareness/engagement of the Leadership Team to drive business results based upon the Lulu International Exchange QMS

Development of best practice policies, processes, procedures and controls across all business and functions based upon ISO 9001:2015 requirements including integration with GCC and Asian Financial Regulatory requirements

The Results

In addition to attaining ISO 9001:2015 certification, the following are the key results this project helped the Lulu International Exchange attain, namely:

  • Aligned the Lulu International Exchange business vision, strategic/business goals and QMS
  • Designed and developed a new strategic/business and data analytical business control system that significantly improved business, financial controls and performance
  • Designed and streamlined the Lulu International Exchange Information Technology policies, processes and procedures based upon an agile technology environment
  • Update the company-wide Human Resource System including policies, processes and procedures to change business culture based upon performance
  • Development of best practice policies, processes, procedures and controls across all business and functions based upon ISO 9001:2015 requirements including integration with GCC and Asian Financial Regulatory requirements
The Bottom Line

The most significant benefit this engagement brought Lulu International Exchange was the positive business change as the organization transitioned from a business funded organization to a sustainable and profitable organization.

Internally the most significant benefit has resulted in the adoption of a consistent and best practice approach. This will help Lulu International Exchange provide a competitive, innovative and cost effective foreign exchange and money remittance and efficient level of customer service to their millions of clients via a variety of modern and secure technologies, whether it’s online or via a network of retail branches.

“An important role in this success, as stated by the Lead Auditor and the whole audit team, was the well-designed BPMS which evidenced defined Standard Operating Procedures in all Departments and Countries where the Group operates. Your valuable consultancy, input, and assistance in the design as well as the initial implementation of our BPMS is highly appreciated.”

Adeeb Ahamed
Managing Director

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