Totemic Debt Management Success Story

The Totemic Group is one of the largest commercial debt management companies in the UK. Totemic develops its own payment, information and CRM systems, and through its key PayPlan business helps over 100,000 people in financial difficulty manage debts every year. Totemic also scores consistently highly in ‘Best Places to Work’ listings and is an ‘Investor In People’ accreditation holder.

THE CHALLENGE

For its core PayPlan business, Totemic Central Services Ltd (TCS) receives anything between 800-1500 items of client/creditor correspondence (creditor letters, statements etc) each day. Backlogs weren’t common, but an ever-present risk. Totemic wished to automate correspondence processing system - matching each incoming document to clients and credit agreements - and dynamically adjust routing of extracted data to a variety of backoffice processes .

THE SOLUTION

At the conclusion of the project, it was observed that:

• All incoming correspondence dealt with each day. Backlog risk reduced.
• No longer necessary to offshore proportions of the processing.
• Estimated project cost recoup within 11 months.
• Overall reduction in man-hour and financial costs per client case, as the operational cost of administering cases is significantly reduced.
• Post-scanning, documents validated at rate of 2 per minute by operators