A major UK bank suffered from a historic lack of investment in their collections systems infrastructure. This included a legacy collections system built on dated technology; a significant number of end user tools and manual workarounds; data issues and batch driven interfaces; limited communications capability creating a poor customer experience; an inflexible environment resulting in failure to quickly adapt to the changing business and regulatory environment. Arum supported the client in an engagement to select new systems to meet their future collections vision.
- Strategic vision setting for the collections system environment.
- Educated the client on the art of the possible (vendors, functionality and direction of travel for solutions).
- Advised on the optimum process for systems selection while meeting the client’s internal procurement governance requirements.
- Used Arum’s requirements library to recommend and define crucial business requirements.
- Arum recommended key RFI and RFP questions and scoring methodologies.
- Attending, questioning and scoring at vendor presentation and show & tell sessions.
- Scoring and input into system selection on best fit solutions for the client.
- Business case benefits support through recommending key benefit areas and metrics.
- Tailored and effective systems selection plan based on our client’s needs.
- Independent market knowledge and analysis.
- Ability to challenge the vendor on their products, delivery capability and implementation recommendation from an informed position.
- Enabled the best fit solutions to be selected for the client’s requirements.
- Systems were selected in a shorter timescales due to expert input throughout.
- Reduced the risk of overspend by matching the correct solutions to the client’s requirements.
- Independent validation of the implementation plan and resource allocation across the client, vendor and 3rd party SME.
- Immediately supplemented the client’s team allowing BAU activities to continue.