Streamlining Data Insights for Success: Convergence Acquisitions’ Journey with ProvanaOneBusiness Intelligence
Overview
Convergence Acquisitions, LLC is a consumer-focused receivables management company with over 30 years of experience. They specialize in purchasing and servicing a wide range of distressed consumer receivables. They are compliant and brand focused while servicing internal and external assets across their national recovery network for all stages of an account’s life cycle. They have a diverse client base with product types focused on auto, DDA, credit card, healthcare, agricultural and general contract defaults.
Challenge
Convergence Acquisitions had manual processes for pulling performance data to share with the team. The data was accessible only to those who knew how to use SQL. It was difficult to identify areas of opportunity with the help of data driven insights. They consumed additional FTE hours for pulling and formatting data, which was not an effective utilization of their time.
They were very spreadsheet driven. Data stories were inconsistent with clients resulting in repetitive work and inconsistent data quality. Training new employees was also difficult.
Greater Credibility and Transparency
Minimal time spent on data pulling and formatting
Spot placement trends helping in capacity planning