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Meeting the demands of a dynamic finance organisation |
Business Challenge
Traditionally, the Student Loans Company had used a variety of systems built in-house to manage its business. However, in 1999 it decided to upgrade the existing collections system to ensure that the very best collection techniques were being used. With loans coming from the public purse, not surprisingly there is political pressure to ensure that collection rates are kept high and so the Student Loans Company is given targets by the government.
The Student Loans Company undertook a full invitation to tender, seeking a collections system that would reduce the need for manual intervention, yet would offer as flexible a response as possible to its customers.
The solution
The contract was awarded to the Tallyman Debt Management and Collections system, which has been operational since March 2000.
The benefits
>>Seamless transfer of data to and from the Student Loans Company’s predictive dialler, data management, litigation and billing systems
>>Increased recovery rates and decreased administrative costs
>>The Student Loans Company and the Tallyman team working in partnership to develop new initiatives and deliver key functionality ready to meet the demands of a dynamic finance organisation
“We need to be able to keep manual intervention to a minimum. Tallyman enables us to follow processes according to the status of the account without the need for the account to be reviewed by staff.”
“By using Tallyman we have achieved the dual benefit of increased recovery rates as well as a decrease in administrative costs.”
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