Following the implementation of a new collections system in 2016, London & Quadrant (L&Q) reduced its workforce based on the expected benefits from the system deployment. However, the benefits were not realised, and arrears and caseloads subsequently increased over a period of 18 months, further compounded by COVID-19.
L&Q approached Arum to complete a review of their General Needs Portfolio to identify areas for improvement.
Due to lockdown restrictions, we adapted our usual assessment process, holding meetings remotely with senior stakeholders, team managers and process subject matter experts.
We assessed the key capability areas of technology, operations, data and strategy, performance management and structure.
Within two weeks, we provided L&Q with a comprehensive 75-page report, detailing our observations and recommendations, the majority of which were actionable within the existing business landscape.
L&Q has over 40 recommendations identified by the Arum team, which will help them improve their General Needs Portfolio:
- Over 50% of these are “quick wins” and achievable within current budgets and constraints and should yield £600k in additional revenue in year one.
With further investment, there is potential long-term revenue increase potential of circa £1.5m per annum from year two onwards.
- We provided a roadmap for improvement to L&Q, aimed at driving short to medium term benefits with recommendations that are actionable.
- L&Q has an opportunity to control and reverse the recent spike in arrears by focusing effort on the implementation of the recommendations identified.
Find out more about Arum's collections review offerings