Mass merchandise and bulk business isn’t limited to consumer goods – you find it in recovery as well. Naturally, every claim has to be treated individually, and every claim is different. Even so there are often similarities in many claims, and recurring processes. With the number of cases approaching five figures, it’s obvious that processes need to be automated.
„The benefits of the database we designed is that relatively unprofitable work can be done cost-effectively at the touch of a button.“
Our Approach:
To cope with this number of cases, we have developed a program for recovery for a principal which handles the large number of recurring small steps. Recovery processing begins in this program with OCR (optical character recognition), reading claims received by email into the System. Where in the past every vehicle identification number was keyed in manually and every detail of the claim was copied individually, this is now done by the program. This makes it possible to do relatively unprofitable work cost-effectively at the touch of a button. While the data is being read in, a file is opened in the System. At the same time, the attachments to the email are moved to a system file. The data quality is also improved by eliminating human error.
The new claims can be viewed in a list displayed by the system and processed by date, ensuring that no claims expire by Limitation. After this is done – naturally individually by the responsible desk officer – and the recovery documentation has been generated, the program moves on to further steps. The system forwards the recovery claim to the relevant email address on file, and automatically files all communication relating to the Claim. Incoming correspondence can be separately displayed and systematically processed, by date received, date of expiration or sorted by various other criteria.
Sending the recovery claims alone is naturally not enough – our claim has to be objectively justified to the party causing the loss, and in some cases energetically followed up. Automatic follow-up on files is clearly structured and displayed, with the option of sending reminders for different files and monitoring status on an ongoing Basis. In this way, no file is overlooked, despite the volume, with ongoing monitoring and transparent display of all Information. Subsequently, it’s a matter of properly managing the flow of funds from successful recovery.
The result:
We have identified processes which recur constantly at this point, and the system now matches the amount received with our claim or the expected Revenue. Payments received can be sorted and displayed by matching payments and partial payments, efficiently monitored at a glance and settled with a click – i.e. entered and processed in the System. Besides the revenue from recovery, it is also important to make the results visible quickly and efficiently in statistical Analysis. Individual data analysis and sorting is possible in this system with just a few clicks.
The program described above is just one example of how we develop solutions which are individual and customised for our principals, given sufficient numbers of cases, which all those involved can then work with efficiently and effectively.