How is your collections department preparing for Breathing Space?
Many lenders are facing disruptive and expensive changes to their debt management or billing systems in order to incorporate Breathing Space rules into their collections processes before changes come into force in May.
Breathing Space is a timely example of how organisations can benefit from a nimble, microservices environment that can be updated or configured without disturbing or disrupting the whole system. At Flexys, this is done quickly via features and updates remotely deployed, ready-tested, from the cloud.
Amongst our extensive versioned library of collections configuration options, Flexys has a bespoke Breathing Space workflow that can be selected by clients and easily configured where necessary by internal teams. No complex requirements project, no delay. In addition, through the configuration module, Flexys clients are also empowered to build their own process, entirely separate from the one produced for our library, if they wish.
As regulations, guidelines, economic and business requirements continue to change, the benefits of a smart, cloud-native debt management system are being realised, enabling businesses to make changes easily, to be more independent of suppliers and to respond to new situations quickly and efficiently.
Organisations still using legacy systems, whether entirely on-premise or enabled for the cloud, are finding their supplier’s response slow, and the process of simple change, disruptive and time-consuming.
As a single improvement or as the beginning of your modernisation journey, find out what Flexys can do for your organisation.