The challenge
This major utility company wanted to create a best in class operation to improve its credit management performance and retain its competitive position.
The solution
- Strategy and input towards ‘Best in class’ model.
- Project management of the upgrade of the core 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 systems resources to meet project peaks and fill gaps.
- Assistance with the selection and implementation of a virtual platform.
The results
- Improved Bad Debt Charge by 30% in teeth of recession, while competitors’ BDC was rising significantly.
- Gained insight into best 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 the ‘Best in class operation’ programme.