16 Jun 2011

About 65 per cent of Recoveries Corp’s insurance clients have now either moved to full automation of document transfer, or are working closely with our IT experts to achieve improved levels, according to Head of Insurance Jonathan Agnew.

“We are achieving some outstanding results for clients whose technology is on a par with our own best-of-breed systems,” Mr Agnew says.

“Automation improved cycle times for one major client by 24 per cent because files with complete documentation were prepared for collection much sooner.

“There were also labour savings equal to two full time employees on the contract, as we could reduce the need for staff involvement in the document transfer process.”

Automation delivers even greater benefits around uninsured debts by speeding up the collection process. Early intervention substantially increases the opportunity for recovery, as these debtors are more likely to be renters who change addresses.

Recoveries Corp pursues continual innovation in its sophisticated debt collection software, and a partnership approach with some programming investment from clients is required to move beyond outdated methods of information transfer.

“Our inhouse development team is keen to help clients identify cost effective solutions that automate document transfer and minimise the need for human intervention,” Mr Agnew says.

“This makes both of our businesses more efficient and productive, and frees up scarce and expensive human resources for higher value tasks.