Collections & Recoveries

Improving Credit Management – Major UK Utility – Case Study

Business issue

The Client, a major utility in the UK, recognised in order to retain its competitive position it needed to dramatically improve its Credit Management performance.  In order to achieve this, it commenced a programme of work to create a ‘Best in Class Customer Collections’ operations.

light-bulb

Arum Solutions

  • Strategy and input towards ‘Best in Class’ model.
  • Project management of the upgrade of the core collections systems, enabling on-going operational improvement.
  • Introduction of segmentation and tailored debt follow up.
  • Revised procedures to enable faster implementation of business process changes.
  • Provision of business analysis, management and collections systems resources to meet project peaks and fill gaps.
  • Assistance with the selection and implementation of a virtual collections platform.

Client benefits (initial)

  • Improved Bad Debt Charge by 30% in teeth of recession, while competitors BDC was rising significantly.
  • Gained insight into Collections and Recovery good practice and emerging strategies and tools.
  • Imported knowledge from Arum staff.
  • Major change project completed on time and on budget.
  • Client now able to continuously adapt processes and systems to support business priorities and meet operational demands.
  • Delivery of a ‘Best-in-Class Customer Collections’ programme.