AR Resources uses Provana’s technology enabled solutions to manage their credit disputes

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AR Resources is a full-service receivable management and collection company serving creditors throughout the United States. It was founded 19 years ago by a group of people who originated from NCO, the largest collection agency in the world at the time. Initially, AR Resources focused primarily on healthcare collections. They have 44 domestic employees and 12 offshore collectors working for them across the United States.

Provana was fantastic throughout our onboarding journey – implementation, training sessions and demo calls. Everything was planned and executed in an efficient manner. They were always proactive helping us achieve our business goals. They are the best partner we could ever get’

Craig Vondercrone, Chief Operating Officer, AR Resources 

Challenge

The clients of AR Resources wanted to credit report, but the agency did not have sufficient staff to manage this. As a result, AR Resources got inundated with Consumer Dispute Verifications (CDVs) to the extent that the CRAs reached out to them with warnings to investigate all their pending disputes. After the second warning, the agency knew that they would lose their reporting privileges with the next, third, warning. To effectively handle the volume of credit disputes they needed to hire at least 15 additional FTEs. After assessing the entire situation, they decided that automating the dispute verification process will be more cost-effective than spending money on hiring, training, and retaining employees. 

Solution

AR Resources started attending industry webinars and reading blogs and research papers to identify relevant technology solution providers who could help them automate their credit dispute process. During some of these webinars, Provana’s IPACS (Integrated Policy Audit and Compliance Solution) stood out as the most comprehensive compliance and dispute management solution in the industry helping its clients in the following ways:

  • Manage disputes across multiple channels in a single platform 
  • Automated workflows trigger quick dispute resolution 
  • Make informed decisions through custom analytics reports 
  • Fast implementation to ensure quicker ROI 
  • Centralize all policies and procedures in one place 
  • Streamline employee training and testing customized test schedules and in-platform testing 

“The collection industry has been slow to digital transformation. The pandemic helped us realize how important it is to infuse technology in our daily operations. And Provana is doing an excellent job helping the industry make a shift from fully manual operations to technology enabled solutions to unlock new avenues of growth and profitability,” said Craig. 

Results

AR Resources leveraged Provana’s complaint and dispute management solution, IPACS for: 

  • Cost Savings: Reduce costs on internal staffing to manage compliance processes, estimated at 15 FTEs 
  • Fast dispute resolution: Went from being about 4 and a half weeks behind to about 4 weeks ahead in terms of dispute resolution after using IPACS 
  • Minimize errors: Automated workflows reduce manual errors while credit reporting 
  • Effective change management: IPACS helps us constantly update our policies and procedures in accordance with changes in regulations i.e., Regulation F. With IPACS, we no longer need to worry about how these changes will come into effect and be followed 
  • Focus on core business areas: With IPACS taking care of daily operations, we can now focus more on the strategic part of the business – revenue goals, expansion plans etc. to fulfil our growth plans 

Most importantly, getting ahead of the problem has taken a big weight off the shoulders of the management team. “It was a huge sore a year ago, and now I can sleep better at night!”