Reduce Workers Comp Claims

CHALLENGE

Extending payment offering

As a forward-thinking business this global payment services provider uncovered a way to complement their existing European payment by offering Direct Debits. As a way to optimize their service portfolio and unlock new business potential, the client offered their customers Direct Debit as an additional payment method in Europe while receiving the revenue in
their designated currency.

However, with little expertise in handling direct debits in Europe, this Global Payment Service Provider looked to Broker as their full-service partner – capable of providing Direct Debit and related services (reconciliation-to-reporting) in key European countries. The service was required on a white label basis so that it could be provided as part of the clients processing suite.

SOLUTION

White label and reliable

In Broker the client found a full-service partner who was reliable, efficient and skilled in the creation of the tailor made service they required. To facilitate the white label service, Broker would receive real-time and offline bank account validation requests and process direct debit settlement files from the client on behalf of their merchants.

Broker tailored the program even further by selecting partner banks in Europe and opening trust accounts on behalf of the client as well as setting up and managing the local payment and information flow. As a result, the client could rest assured that Broker adhered to all local banking requirements
and regulations for each country – and, or, bank.

Broker’s services and approach were perfectly integrated and aligned
with the clients processing suite, enabling them to provide a complementary payment offering to their global merchant base.

RESULTS

A full-service partnership

  • Collection of over £98 million on behalf of the clients merchants since 2005 annual growth rate of 25% with regards to transactions.
  • Improved cash flow and reduced Days Sales Outstanding.
  • Reduce of fraud and late payments.
  • Upgrade of security standard based on Broker finance’s certifications and experience.

What to do About Rising Rates

CHALLENGE

To bring members worldwide together

Administration of the Fitzgerald Owners Group (the world’s largest factory sponsored motorcycle riding organisation) was fragmented across EMEA, resulting in inefficiencies and inconsistencies in customer relationship management activities with members. The key objectives of the programme were to provide an improved experience for 100,000 members, while making cost savings and improving customer loyalty.

SOLUTION

To to create one centre across EMEA

Broker set up a contact administration centre, staffed by a multilingual team, implemented controlled payment methods such as international web and bank transfers and introduced a tiered membership structure.

Better print management has been achieved for member publications, which often involves sending membership packs containing around 20 items, in six languages, to 68 countries.

Broker continues to work with the Fitzgerald Group and has recently expanded its global footprint by delivering services from the United States, South America and Asia.

RESULTS

A successful transition and operational excellence

  • Saved £360,000 by centralising contact centre activities
  • Cut £150,000 from the annual fulfilment spend
  • Captured 100,000 previously lost calls annually
  • Improved customer satisfaction significantly, from 50% to 80%
  • Raised membership by 50% in 3 years
  • Increased annual revenue per member by 50%

Cyber Risk and Covid

CHALLENGE

Improve the invoicing process

Security company Securator started in 1999, and today it is the leader in ID-protection and general security in Sweden, Norway, Finland, Poland, Russia and Ukraine.

The company operated its business by invoicing its customers in a one-off basis for services that would last between 12 and 36 months. This generated a relatively high customer churn, and little opportunity for upselling other
services.

Additionally, the nature of the invoicing process resulted in a difficult to manage liquidity, with periods of high influx of payments.

SOLUTION

Designed and implemented new flexible invoicing options.

This allowed the incorporation of new services and products to existing subscription accounts from customers, merging the payments into a single monthly invoice covering all services.

Broker took over the financing and administration of subscription accounts, being responsible for monthly invoicing of the client’s customers.

Finally, Broker created a customer solution to deal with customers’ invoice issues.

RESULTS

A successful transition and operational excellence

  • Client started with no subscriptions, and today they manage 100,000 accounts.
  • Improved invoicing process with the incorporation of monthly subscription payments instead of upfront payments (every 12, 24 or 36 months), leading to upselling opportunities and significantly improved margins.
  • Reduction in customer churn rates due to monthly invoicing and recognition of brand.
  • Economies of scale with client’s existing customer service centre acting as a sales channel for upselling opportunities.
  • Reduction in the number of bad debts.

New Study A

CHALLENGE

Deliver a state of the art customer exerience

The core challenge was to provide a globally consistent contract-to-invoice service across four lines of business – Dynamics, Commercial Operations, Enterprise Services and Original Equipment Manufacturers Operations – that
together represent over 90% of Growtech’s global revenues.

Growtech had previously used seven vendors in five locations across four continents. Processes had become fragmented; meaning quality and service were inconsistent. This lack of standardization was adversely impacting operating costs, productivity and customer satisfaction.

SOLUTION

A global managed service model

In a five-year agreement worth £130m ($200m) Growtech, for the first time, entrusted the processing of 90% of the company’s worldwide revenues (more than $3bn in FY2011) to a single global partner.

The scale of this global BPO relationship was unique in managed services, covering six locations worldwide (Dublin, Reno, Fargo, Monterrey, Singapore, Manila), and involving 1,100 employees, 15 languages and more than 4,000 processes.

To manage the complexity and risk, Growtech and Broker established a managed services model, covering the whole ‘contract to invoice’ chain.

RESULTS

A successful transition and operational excellence

  • Completed one of most successful transitions in Growtech’s history
    Scored an ‘A’ in Growtech’s operational excellence measures
  • In excess of 20% cost savings over the term of the contract, totaling $40m
  • A more dynamic, flexible, BPO structure able to adapt to Growtech’s evolving global business

New Study B

CHALLENGE

Deal with outstanding debts

Oak Tree Solutions, is the UK’s number one classified and community website. It brings together “buyers” (consumers looking for something) with “sellers” (businesses and people offering something).

It’s everyone’s local notice board – generating more than 250,000 new listings a week, and attracting 13.7 million visitors and 400 million page views a month. As the business grew, Oak Tree found it was spending increasingly
more time chasing overdue payments.

To improve its cash flow, Oak Tree decided to outsource its credit control function to Broker to benefit from Broker’s finance expertise and track record in accounts receivable & debt collection services.

The task was to develop a speedy and efficient process for improving cash flow and collecting outstanding balances.

SOLUTION

Create a dedicated team

To manage the outstanding debts, Broker created a customized collections process and appointed an experienced, highly trained team of credit controllers and collectors to the business.

Individual team members were assigned to particular customers to strengthen the relationship with customers and provide them with a consistent credit control partner, which in turn supported process efficiency and maximised cash collection rates.

RESULTS

Significant debt reduction

  • Collected approximately 70% of outstanding debts owed to the business within a very short timeframe.
  • Major cash flow improvement: increased collection rates by more than 200% (2015 compared to 2014)