Case Study: SaaS solution for efficient communication in debt recovery
Vendor Management Solution for debt recovery
Background The client was a debt recovery company that faced challenges in managing their impaired portfolio and reducing net credit losses due to inconsistent communication across different vendors and agents.
Problem Statement: The client needed a solution that could streamline communication and provide a consistent message to all stakeholders. They wanted to create a SaaS solution that could be used by vendors to keep all communication at one single point.
Solution Approach We designed a SaaS solution that provided a single snapshot view of the customer to all stakeholders, including vendors and clients. The solution helped in maintaining consistent, timely, and professional communication with the bankrupted customers. Our team analyzed the requirements of the client and designed a solution that met their specific needs.
The solution was designed to manage the communication process between the client and the vendors. It enabled the vendors to update the communication with the customers on a regular basis and maintain a consistent message. The solution was integrated with the client's systems and allowed the vendors to view all the required data and customer information in real-time.
We implemented a dashboard that provided a detailed view of the communication history, current status, and future action items. The solution also had a feature to track the performance of each vendor and agent to identify the areas for improvement. The SaaS solution was scalable and could be easily integrated with other client systems and vendors.
Results The SaaS solution helped the client to manage their impaired portfolio effectively and reduce net credit losses. The consistent communication with the customers improved the customer experience, resulting in a higher success rate of debt recovery. The solution also helped the client to maintain a professional relationship with their vendors, resulting in increased vendor satisfaction and improved performance.
Conclusion Our SaaS solution helped the client to streamline their communication process, maintain a consistent message, and improve their debt recovery rate. The solution was highly scalable, customizable, and easy to integrate, making it an ideal solution for similar businesses. With our solution, the client was able to reduce their net credit losses and improve customer and vendor satisfaction.