Introduction

A mid-size national provider of Accounts Receivable Management (ARM) services in business for over 20 years and a team with a combined 65 years of experience handling commercial and consumer portfolios. Headquartered in the Southern United States with additional offices throughout the country, handling First and Third-Party Portfolio servicing along with a legal network of attorneys for escalated recovery needs. They offer customized reporting, access to audit accounts 24/7/365, and provide additional services such as skip tracing and debt purchasing. They were having difficulties handling the new inventories they had secured due to inflationary costs and the ability to source talent in the office or remotely. Through a partnership with BeeSeen Solutions, they developed an on and offshore outsource model and are now able to offer a right shore strategy, while continuing to scale without the traditional heavy costs associated. Their business has never been better.

Challenge

The Main Challenges Faced:

1. As a mid-size company with multiple locations, they were struggling to find reliable and experienced talent.
2. Due to the rise in operating costs, increased compliance oversight and the need to reinvest in new technology the company was having a hard time servicing their inventories properly.
3. Having only an onshore approach, the challenge to find talent became increasingly difficult
4. Inventories were not being serviced properly causing missed revenue opportunities.
5. Clients started to become frustrated as the servicer was not able to deliver the necessary performance on the portfolios.
6. Competing with larger organizations in their areas created difficulties in sourcing talent at compensation levels that were commiserate with their industry.
7. They started to experience a loss of market share and new business opportunities.

Solution

Through developing a partnership with BeeSeen Solutions, a tailored strategy was designed to utilize our global footprint of delivery centers leveraging on and offshore teams.

1. Through strategy sessions, a road map was developed to provide the National Servicer with access to both on and offshore teams working as a dedicated extension of their internal.
2. A project plan was developed to ensure the highest levels of compliance and efficiency.
3. The hiring and sourcing of experienced candidates were set up quickly and in a matter of weeks.
4. The success of the strategy allowed the National Servicer to gain additional market share and inventory to service.
5. The National Servicer could scale without the heavy costs due to comfort in the experience of BeeSeen’s support teams and proven track record for success.
6. The access to on and offshore teams allows for flexibility in how inventories and accounts are serviced throughout their lifecycle.
7. The National Servicer gained access to next gen technologies offered through BeeSeen Solutions. This resulted in enhanced performance, upgraded compliance, improved efficiencies and increased profits.

Business Outcomes

• BeeSeen and the National Servicer continue to enjoy a successful partnership together with expansion plans in the upcoming months.
• Due to the continued success, the National Servicer is now utilizing BeeSeen for its Digital Strategies to help them acquire new clients and contracts.
• With the success of the partnership, the National Servicer is able to continue to reinvest into new technologies and explore cutting edge offerings to continue their success.
• Having confidence in hiring through BeeSeen’s global footprint taking on larger volumes is a much easier business decision today than before.
• The access to talent has allowed for continued diversity in the types of portfolios the National Servicer can handle.
• The exposure to how to effectively utilize an outsource model has allowed the National Servicer to utilize their personnel properly creating higher levels of success across the board.
• The National Servicer can now compete for more new business opportunities than ever before.

Conclusion

The strategic partnership developed between BeeSeen and the National Servicer continues to achieve new levels of success through a team approach in collaboration. Supported by transparent and proactive communication the two companies have more plans for growth in the year ahead.

BeeSeen Solutions continues to work with partners creating customized strategies supported with access to talented professionals who operate as a pure extension of internal operations. Through a dedicated approach and commitment to excellence, our entire team remains focused on being a Total Solutions Provider for all of our amazing relationships.