Transforming ARC’s dispute management and fueling business expansionCompliance Management

"It’s a very well-thought-out program and functionality. Provana’s IPACS is efficient. We haven’t had a single DNR (did not respond), and I foresee a continued business partnership in the future as well"
Jessica Anderson
Disputes and Complaints Manager

Overview

Absolute Resolutions Corporation (ARC) is a prominent debt buyer focused on acquisition and recovery of distressed consumer receivables, business cards, lines of credit, commercial leasing, and specialty finance portfolios. With over 22 years of experience, ARC is a certified professional receivables management company strictly adhering to federal and state laws, demonstrating a dedication to consistent and industry-standard practices

Challenge

ARC, a leader in this space, has been growing and acquiring new portfolios. New business means an increase in disputes and their lean team faces mounting challenges dealing with this high volume of direct and indirect disputes, each averaging 4,000 a month. Moreover, the team’s limited capacity and growing volume resulted in longer working hours, leaving little time to resolve disputes and potentially increasing the compliance risks in other areas.

Solution

Provana’s IPACS dispute management solution bridged the gaps and supported ARC in achieving a compliant and cost-efficient solution to manage indirect disputes:

  1. Automated workflows: Customized rules based on policies and procedures drove faster dispute resolution.
  2. Single interface: Unified platform integrates data from the e-OSCAR platform and system of records.
  3. Compliant system: Easily adjusts system and compliance rules according to market and regulatory changes.
  4. Data-driven insights: Provides timely and crucial business information e.g. FCRA relevant verbiage, Validation of debt etc.
  5. Additional checks: All disputes are reviewed and validated by the Provana
  6. Expert support: Regular task reminders, daily updates, and prompt responses ensure you focus on what matters most.

Results

IPACS has transformed how ARC handles their indirect disputes:

  1. Slash costs: Saving at least 2 full-time equivalents (FTEs) translates to annual savings of ~50%.
  2. Efficiency gains: Automation cut down dispute processing time by almost 60%, boosting the process efficiency.
  3. Fewer errors, more focus: Consistent and accurate dispute processing prevents AUDs (Automated universal dataform) in e-OSCAR platform.
  4. BI reports on 103 and 104 disputes: Automation and BI reports save the team from handling ~700 fraudulent claims each month, freeing them for legitimate disputes.
  5. Zero missed opportunities: Zero ‘DNR’ notices – responsiveness is key!
  6. Strategic focus unlocked: Streamlined processes free up resources for vital consumer communications e.g. sending response letters, validation documents, and investigation letters.

50%

Cost Reduction

2 FTEs

Worth effort saved

ZERO

DNR Notices