Debt collection agency direct legal & collections (dlc), has turned to TietoEnator to deliver a debt management solution to administer a wide range of debt and credit agreements.
The TietoEnator system will be used for the administration of both its contingency and debt purchase business, as well as performing, fixed sum credit and running account agreements.
As DCAs become more sophisticated in their ability to tackle portfolios of mixed account types, as well as being involved in agency work and debt purchase, the systems they use to administer their businesses are necessarily having to be more sophisticated and powerful. In this project, dlc will be implementing a system upon which all account types will be managed on a single application.
"Our existing systems were constraining our ability to manage certain types of business, without having to develop sub-routines that operated outside our core system. It was also important that we were able to develop more complicated strategies that used debtor profiling as an integral part of our recovery strategies," explains Steve Grima, Operations Director, dlc. "The TietoEnator solution will allow us to automate many processes and procedures. By ensuring that manual intervention is on an exception basis, our growth projections can be managed without a significant increase in staff numbers. The knowledge and experience of the TietoEnator team, a scalable and proven solution for both agency and debt purchase, and the system's ability to support performing debt accounts, made a compelling case for our selection of TietoEnator."
A number of benefits are expected by dlc from the new system, including the use of conditional processing to manage debt strategies; the ability to grow the business without a significant increase in headcount; a reduction in the current operational costs associated with the collection of a debt and an improvement in the efficiency of existing personnel.
The TietoEnator Collections Suite will interface with a number of dlc systems including the Amcat dialler.
"The growth and increasing professionalism of the DCA sector has placed incrincreased demands upon the providers of solutions to that market and many have failed to keep pace with the market need. TietoEnator's decision some time ago to invest in its people and solutions for this market is now delivering real value to customers. DCAs and debt purchase companies such as dlc who are managing multiple account types and performing debt have a clear advantage in working with one of the few technology providers who really understand the business," comments Gary Strickland-Clark, TietoEnator.