Success Stories

Totemic - Debt Management Correspondence Success Story

Being one of the largest commercial debt service firms, correspondence is key. But DCS reduced their backlog risk with costs recovered within 11 months!

The Totemic Group is one of the largest commercial debt management companies in the UK. Totemic develops its own payment, information and CRM systems, and through its key PayPlan business helps over 100,000 people in financial difficulty manage debts every year. Totemic also scores consistently highly in ‘Best Places to Work’ listings and is an ‘Investor In People’ accreditation holder.

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The Challenge

For its core PayPlan business, Totemic Central Services Ltd (TCS) receives anything between 800-1500 items of client/creditor correspondence (creditor letters, statements etc) each day. Backlogs weren’t common, but an ever-present risk. Totemic wished to automate correspondence processing system - matching each incoming document to clients and credit agreements - and dynamically adjust routing of extracted data to a variety of backoffice processes .

The Solution

DCS configured the Kofax platform and developed custom elements in order to fulfil the specific business logic. The required workflow logic was plotted, allowing for both automated and manually guided lookups from CRM in order to arrive at the closest possible data matches for each incoming correspondence item.

The upgraded solution now searches for information to populate a multitude of principal data fields and verifies the relationships of this data matched with previously stored case/matter correspondence. The operating validators now work with user-friendly functions and presentation in order to maximise the benefits of automation.

In order to populate the overall document status, the solution also searches for phrases likely to identify the document as an accepted payment offer, for example, or an account statement. A system dictionary manages this and dynamically learns in response to manual input to the correspondence it cannot identify straightaway.

The Outcomes

At the conclusion of the project, it was observed that:

  • All incoming correspondence dealt with each day. Backlog risk reduced.
  • No longer necessary to offshore proportions of the processing.
  • Estimated project cost recoup within 11 months.
  • Overall reduction in man-hour and financial costs per client case, as the operational cost of administering cases is significantly reduced.
  • Post-scanning, documents validated at rate of 2 per minute by operators

Rapid responses to correspondence means faster overall pursuit of creditor / debt cases. Totemic are considering widening the remit of Kofax-led document processing solutions to leverage further benefits.

Correspondence Processing and Mailroom Automation

Data Capture Solutions (DCS) provide a wide range of information management software and service solutions targeted at improving organisational effectiveness and efficiency, saving you both time and money.

DCS’s solutions make it possible for companies to share content globally across all internal and external systems, applications and departments, while maintaining central control and management.