Ondeck, a global B2B lending company modernized its entire third-party collection management network using automated business intelligence reports for data driven decision making

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Ondeck Capital is a global B2B lending company that helps small businesses get the funds they need to manage their daily business operations. They provide a sustainable and scalable model of financing that enables small business to thrive. They work with third party collection servicers to manage the recovery of non-performing accounts through their established network of legal and non-legal service providers.

At-a-Glance

80%

workflows automated

24/7

automated refresh process

$60,000

Worth Cost savings through automated reporting (approximately 1 FTE)

Real-time data

Available with a click of a button

Centralized and standardized data library

Cynthia Kolich

My team uses the platform daily to make informed decisions and drive revenue. The Provana team is constantly working with us to optimize the end product. I’m very pleased – not only with the platform, but the collaboration. 

Cynthia Kolich, Litigation Recovery Portfolio Manager, Ondeck 

Challenge

  • Capturing real-time data from multiple servicers’ disparate systems by establishing data pipelines is a difficult task. 
  • Standardization and maintenance of data with a network of servicers can be exceptionally tedious and time consuming. 
  • Not everyone has tools or resources to accurately track, monitor and compare servicer’s performance. 
  • Data reconciliation is a tedious activity which requires a lot of resources  
  • More time is spent building reports rather than getting insights out of it. 

Solution

Provana’s centralized business intelligence solutions helped Ondeck to better manage their network. Backed by a central data warehouse combined with extract, transform and loading (ETL) capabilities, the platform provides a complete end to end reporting solution.  

With this, the client can spend more time on identifying data trends and making informed business decisions, instead taking the hassle of building, and managing these reports. With these interactive and automated reports, Ondeck gets valuable insights to identify opportunities to improve their performance.  


 

Results

  • Eliminating Ondeck manual efforts to create and maintain BI reports 
  • Getting near real-time info and not waiting for weekly or monthly reports from servicers. 
  • Compare servicer performance within the network using same set of standards as data is normalized. 
  • Automatic data ingestion to save time and efforts. 
  • Insightful reports covering different aspects of business to increase efficiency. 
  • Easily identify pain points and new opportunities with data 
  • Review data at the highest level to see how things are trending with the ability to drill down to tiniest of details 
  • Interactive and easy to use reports which help gain insights with just few clicks. 
  • Actionable and shareable reports where the data can be pull out in excel files and passed on to team. 
  • Helped in anticipating the future cashflow based on the network performance 
  • Maintaining accuracy of the data coming from servicer.