Many consumer credit issuers are making significant investments in the range of tools, technologies and techniques to maximise the effectiveness of their collections function. However, it is imperative that the multitude of systems and processes work in a complementary manner to deliver the business results.
PIC Solutions has recently completed a Collections HealthCheck for Credcor, the leading provider of dealer-introduced consumer finance in SA. Credcor recently implemented the TRIAD account management system and in order to realise the benefits and expedite the return on investment, the services of PIC Solutions were retained.
The assignment concentrated on ensuring that the functionality and set-up of the Credcor collections system, coupled with the existing collections procedures, were aligned with the new collections strategies. The review highlighted a number of areas for change that would ensure improved collections results, including operational process changes, system modifications and revised monitoring and incentive programmes.
Sivi Pillay, General Manager of Risk for Credcor, states: "Credcor has committed significant investment to our collections environment, in terms of a new operational collections system, the TRIAD account management solution and revised working conditions for our collections teams. Each one of these investments has generated improvements, but this overall review of our collections environment has highlighted a number of key changes that can generate even better results in the future. After PIC Solutions consultants had worked with us to redefine our collections strategies, this overall review will ensure that all of our collections tools and procedures work together to achieve our business objectives."
This successful relationship will be continued in the future, as PIC Solutions provides ongoing consulting support to Credcor for its TRIAD account management system.
PIC Solutions is a unique, specialist customer management solutions company, providing project management, integration services and consulting solutions to a wide range of blue-chip clients. With over 200 years combined experience in the Europe Middle East Africa region, PIC Solutions has grown to become the largest customer management solutions company based in the Southern Hemisphere.
Our objective is to enable our clients to transform risk into revenue.
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