EquiPro Investments Streamlines Debt Recovery Process with DocuWare
Company Size
200-1,000
Region
- America
Country
- United States
Product
- DocuWare
Tech Stack
- SQL Database
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
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
About The 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.
The 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.
The 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.
Operational Impact
Quantitative Benefit
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