Huge Efficiency Gain: 34% of Manual Labor Saved with Automation in Debt Collection
Debt collectors Klare Inkasso frees up capacity to handle growth with CollectionBot from Banqsoft. Read on to learn more.
Klare Inkasso has startling figures to refer to after using CollectionBot from Banqsoft. In a situation with an increasing number of assignments, they have reduced manual processing of cases by as much as 34%, which amounts to two years of manual labor (two full time equivalents, FTE) saved. Now, they handle an annual growth close to 10% without problems.
Klare Finans finances unpaid common cost housing companies which co-owners are entitled to, ensures loss of common costs and runs collection services. The latter is done through their own debt collection agency - Klare Inkasso. Issued claims are approaching NOK 11 billion, spread over almost 2.8 million transactions.
“About 3.5 percent goes to collection,” says Ole Morten Husmo, lawyer and responsible for collection in Klare Inkasso. “This is a significant decrease compared to a normal year at Klare.”
“What we see, however, is that more cases go further than before, since we now have several completed legal proceedings last year”, says Husmo.
The gain is extracted primarily through the use of the rule engine CollectionBot, and especially together with the ELSA solution (legal service). Extensive use of Email Manager has also given results, since email inquiries that are not automatically routed directly to the right case are greatly reduced.
“3 to 3,500 emails a month that go where they are going without us spending a lot of time on it has given us a big saving. We get to the goal much faster now,” he says.
“We have received tools that are easy to use and that help us get results very quickly - once we have set it up properly. It is not very complex either,” Ole Husmo concludes, “To leave decisions to the CollectionBot based on information already in the system.”
Property photo is for illustration purposes only.
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