Client Overview
The client is an emerging European bank that needed a platform to reduce defaulters and increase revenue by developing a common workflow solution for collection agencies and suppliers.
Business Challenges
- Money recovery issues
- Collection methods are not real-time
- Customer bankruptcy
- Manual credit assessments
Solution Highlights
- Platform for collaboration between suppliers and collection agencies to recover bad debts
- Supplier case creation and submission by suppliers for debts
- Case details and documentation management
- Case histories and status
- Complete workflow on cases – action and status updates by collection agencies
- Collection agency rankings and evaluations
- Billing and invoicing
- Multi-currency support
- Reporting and dashboard
Benefits
- Complete customer data on: credit history, capacity for payment, capital, and conditions of the loan & associated collateral
- Multiple payment options
- Reduced bad debt write offs
- Improved cash forecasting
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