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Improving Capture & Liquidation Rate


Improving Capture & Liquidation Rate

Customer Service and Inventory Management
Process Improvement
The purpose of this project is to improve the capture rate and liquidation rate

Action Plan

  • In collaboration with the client, Verity conducted calibration sessions with multiple stakeholders (Agents, Borrower, Lender and Seller) to understand the requirements at various stages of the processes.
  • Principle Client initiated a drive where surveys were conducted, and Verity performed root-cause analysis to identify process improvement levers for queries, complaints and requests.
  • Verity designed and developed proactive communication and a comprehensive set of documents which were sent in the form of automated emails at various stages of the process based on the drivers identified. This resulted in an improvement of our ‘’Customer Effort Score’’ and ‘’Ease of doing Business’’ from 2.8 to 4.8 and from 2.5 to 4.2, respectively.

Outcome / Achievement

  • Overall liquidation timeline came down by 30 business days.
  • Overall complaints were down to less than 1% from 15%, and operational losses came down to approximately $150 monthly from an average of $20,000 a month.
  • Net Promoter Score increased to +30 from -40.
  • Accelerated the capture rate timelines, from five states to 38 states.
  • Liquidation rate improved from 32% to 84%, with a net revenue gain of $3M.