Arum, the independent debt collection and recoveries consulting business, is pleased to announce strong growth, with a further 36 per cent revenue increase for the financial year 2013-14. This follows on from 30 per cent income growth reported the previous year.
This substantial organic growth was driven primarily by larger long-term contracts in the debt collections and recoveries systems integration consulting part of the business. This was particularly marked in the retail banking and utilities sectors in UK and Ireland.
The year also saw Arum create permanent presence in Dublin to go alongside London and Edinburgh offices and increase employees by 20%. New members of the team included Nick Walsh, previously global lead on Collections and Recoveries Business Consulting at FICO, and others with similarly great depth of experience in change within high-volume collections and recoveries functions.
Arum won a number of key client-side advisory and systems integration projects in the year. These resulted in Arum providing consulting subject matter expertise and hands-on input into debt collections and recoveries transformation projects in a number of major national and international companies. Engagements include full scale operating model reviews, hands-on assistance in transformation programmes, collector skills training and systems integration including on FICO’s new Debt Manager Version 9.
Aleks Tomczyk, Arum’s Chief Executive, said:
“Our strong performance last year was down to the hard work put in by the great team we have here. Feedback from our clients shows that they value our independent views as well as the experience and skills of our consultants to help them transform their operations. Once we are engaged, it is the attitude of our people delivering ‘sleeves-rolled-up’ problem-solving and sharing knowledge with the in house team that is widely appreciated.”
“Whilst the income growth and doubling of operating profit allowing us to invest in more people and services were to plan and great to see, the thing that I am most proud of last year was the employee-led creation of ‘The Arum Way’. This continues to evolve but is essentially the team setting out what attitudes and behaviours we have and want to encourage, plus further building the tools and techniques we use in our work and recognising when people are doing great things. It will stand us in good stead for the future.”
Andy Pritchard, Director of Professional Services, added:
“Improving customer satisfaction and treating the customer fairly have been key drivers for all of our collections and recoveries consulting clients in the last few years. They recognise that further improvement is required however and continue to transform their strategy, data, analytics, processes and systems to enable this.”
“We are very positive about the future. I am pleased to say that 2014-15 has started well and we have a number of great new additions to our team. They will enable us to help our clients move towards excellence in debt collections and recoveries – treating their customers fairly and as individuals whilst achieving their other business objectives too.”