DocuWare Case Studies EquiPro Investments Streamlines Debt Recovery Process with DocuWare

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	EquiPro Investments Streamlines Debt Recovery Process with DocuWare DocuWare

EquiPro Investments Streamlines Debt Recovery Process with DocuWare

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Technology Category	Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Regulatory Compliance Monitoring
Services	System Integration
Challenge	EquiPro Investments, a firm that buys account receivables and recovers money owed to credit card companies, was struggling with its old software which was too slow to handle the volume of transactions. The company needed a faster setup to keep up with the fast-paced industry. The complex operations required swift and precise communication between EquiPro and vendors involved in the recovery process. The company was also dealing with a large volume of work that required a lot of manual labor in document distribution. Read More
About Customer	EquiPro Investments, also known as Security Credit Services, is an investment firm that specializes in buying account receivables. The company has been in operation for 15 years and has purchased more than $13 billion in asset receivables during this time. EquiPro works with vendors such as law firms and collection agencies to establish payment plans and recover funds from debtors who are unable to make monthly payments. The company buys distressed accounts from credit card companies that don't have the resources to collect these debts. EquiPro's operations are complex and require swift and precise communication between the company and the vendors involved in the recovery process. Read More
Solution	EquiPro implemented DocuWare as the centerpiece in the communications that take place between the company and the vendors involved in each debt recovery process. DocuWare keeps track and assigns access privileges to all documents related to EquiPro’s account acquisitions, processing, and distribution to vendors. The company's SQL database stores the vendor's access permission information. DocuWare retrieves the permission details from the database and assigns it to specific documents or document bundles. Once the documents are ready for distribution, they are sent to vendors as large zip files via secure FTP channels. This setup allows EquiPro to disseminate documents quickly and accurately. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Regulatory Compliance Monitoring

Services

System Integration

Challenge

EquiPro Investments, a firm that buys account receivables and recovers money owed to credit card companies, was struggling with its old software which was too slow to handle the volume of transactions. The company needed a faster setup to keep up with the fast-paced industry. The complex operations required swift and precise communication between EquiPro and vendors involved in the recovery process. The company was also dealing with a large volume of work that required a lot of manual labor in document distribution.

About Customer

EquiPro Investments, also known as Security Credit Services, is an investment firm that specializes in buying account receivables. The company has been in operation for 15 years and has purchased more than $13 billion in asset receivables during this time. EquiPro works with vendors such as law firms and collection agencies to establish payment plans and recover funds from debtors who are unable to make monthly payments. The company buys distressed accounts from credit card companies that don't have the resources to collect these debts. EquiPro's operations are complex and require swift and precise communication between the company and the vendors involved in the recovery process.

Solution

EquiPro implemented DocuWare as the centerpiece in the communications that take place between the company and the vendors involved in each debt recovery process. DocuWare keeps track and assigns access privileges to all documents related to EquiPro’s account acquisitions, processing, and distribution to vendors. The company's SQL database stores the vendor's access permission information. DocuWare retrieves the permission details from the database and assigns it to specific documents or document bundles. Once the documents are ready for distribution, they are sent to vendors as large zip files via secure FTP channels. This setup allows EquiPro to disseminate documents quickly and accurately.

Impact #1	DocuWare required about 30 minutes training per employee, saving a large amount of manual labor in document distribution.
Impact #2	The company was able to distribute documents quickly and accurately to vendors.
Impact #3	DocuWare keeps track and assigns access privileges to all documents related to EquiPro’s account acquisitions, processing, and distribution to vendors.

Impact #1

DocuWare required about 30 minutes training per employee, saving a large amount of manual labor in document distribution.

Impact #2

The company was able to distribute documents quickly and accurately to vendors.

Impact #3

DocuWare keeps track and assigns access privileges to all documents related to EquiPro’s account acquisitions, processing, and distribution to vendors.

Benefit #1	Saved, on average, six work hours per week since the migration in November 2018, so roughly 400 hours YTD.

Benefit #1

Saved, on average, six work hours per week since the migration in November 2018, so roughly 400 hours YTD.

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Overview

EquiPro Investments Streamlines Debt Recovery Process with DocuWare

Operational Impact

Quantitative Benefit