How Document Automation Aids Debt Recovery Services

How Document Automation Aids Debt Recovery Services

26th July 2021 | By Helen Collins

Automation technology is constantly evolving and finding new ways to aid different industries in their operations’ manual or data entry aspects. It’s expected that robots could perform up to 41% of finance back-office functionalities by just 2023[1]. This figure is rising every year as companies discover the benefits that automation bring to their processes. Debt Recovery Services are some of the biggest beneficiaries of this technology, as so much of their role is based around data entry and document uploads.Robocloud Debt Automation

Document automation can sometimes be confused with taking the jobs of a human being, when in reality it is a supplementary tool for employees to improve their efficiency in the workplace. Automation is best suited for the following jobs:

  • Opening emails and attachments
  • Basic data entry
  • Transferring files and folders
  • Copying and pasting information
  • Making calculations
  • Analysing information and inserting it into databases

These tasks are typically viewed as low-value tasks that relieve employees of their time without generating much revenue, making them fit to transfer over to a robot. This allows employees to focus on more revenue-based tasks like customer experience and service and the pursuit of new clients and contracts.

Automation in Debt Recovery

Automation can perform tasks that usually take time from employees, such as scanning and uploading images and documents like Notice of Trials. Optical Character Recognition (OCR) extracts the relevant and important information from the document such as the Case Claim, Court Location, Trial Date, Pay Dates and Claimant. This data can then be configured to the clients’ specifications and normalised to fit in the legal case management system, Proclaim. All of these tasks would usually be performed by a human with varying levels of speed and accuracy. In contrast, with a robot, the speed is expedited greatly with a much greater level of accuracy, leaving your employees to focus on people-oriented tasks like following up on the debt recovery or claim.

Claims Management Case Study

Robocloud conducted a case study on one of our clients that utilised automation in their operations, Winn Solicitors. Winn Solicitors are a UK claims management company that offer no win, no fee services to its customers. They were looking for a solution that would reduce the amount of manual processing that their employees had to do to reduce the time spent on each case and ultimately provide a quicker outcome, thus improving customer satisfaction and revenue.

Robocloud took part in a consultancy day with Winn Solicitors to better understand their business operations in order to provide the best service and curated a bespoke model to provide a solution to their needs. This is what Robocloud provided:

    • Physical incoming court documents were automatically scanned and uploaded by Winn to a shared server.
    • OCR analysed documents to make them easy to retrieve with a word-based search.
    • Documents were identified and stored by type on the server.
    • ‘Semi-intelligent processing’ would be completed. For example, text such as “Reply within 14 days of this communication” is recognised, interpreted and turned into a data point.
    • The client ID and corresponding case are identified.
    • The robot navigates to the correct client/case In Proclaim and drags and drops the files from the shared server onto the Proclaim interface.
    • This triggers actions, tasks and workflow within Proclaim for the case handlers to access and process the file.
    • Robocloud also works in partnership with Zeus. Put simply, Zeus is a system that validates that all of the data is correct by cross-checking it back to the original case files, allowing for an increased level of accuracy across the board.

Ultimately, Winn found that each case handler spent 3 minutes less per case, resulting in a saving of 62 hours per week across the board, which allowed more time to be spent on people-oriented tasks that drive more customer satisfaction and revenue. In addition, the accuracy of each task improved, and the processing speed increased, allowing them to process more cases.

For more information about how Robocloud’s services can help aid your debt recovery company, get in touch with a member of our expert team by calling us on 0800 046 8086.

[1] (http://www.ccrmagazine.com/half-of-all-back-office-processes-to-be-automated-within-a-decade/),