Digital and AI

Is your Tallyman system delivering as much as it can?

Matt Riddall, SVP, Client Solutions · 6 July 2020 · 4 minute read
UK

Due to the challenging and unprecedented times we face today, many people worry about how they will afford to pay their regular monthly commitments, such as council tax and utility bills, or simply afford to live. Lenders have been playing a pivotal role by offering payment holidays on mortgages and other products, such as car finance and credit bills, to customers who have been impacted by the lockdown and lost income.

Matt Riddall, SVP, Client Solutions at arum

Matt Riddall
SVP, Client Solutions, arum

Coronavirus has shifted the entire financial landscape as we knew it

A recent article in This Is Money quoted the International Monetary Fund warning " Countries including the UK are facing a 'massive' rise in debt due to the COVID-19 outbreak".

Now is a time more than ever before where credit organisations will need to ensure that their debt collections & recoveries management systems are efficient, fit for purpose, flexible and ready for post COVID-19 activities. They will need to be able to implement changes very quickly when required but also importantly, be able to optimise strategies so they can interact, advise and collect from those customers who find themselves in financial difficulties at the right time.

In this blog, we take a look at one of the market's leading collection systems: Experian's Tallyman and how as a creditor you can ensure you are unlocking the system's true potential.

How does Tallyman help organisations?

Tallyman's core functionality offers organisations the ability to spot opportunities, develop new changes and evaluate them prior to implementation, doing all of this in a very agile environment. The benefits when implemented correctly are clear: to be able to monitor and deliver continuous improvements. Additionally, it can help:

Meet regulatory requirements

Tallyman configuration has the potential to meet complex business requirements; nothing is impossible given how flexible the system is. However, despite the clear benefits organisations can reap from Tallyman, system assessments show they are not always realised and delivered.

Do you feel like you are getting the most from your Tallyman system or, if it has been configured to be as flexible as it has the potential to be?

How to unlock the true potential of your Tallyman system

One of the first steps to help maximise the value that you are achieving from your Tallyman system is to review your build. This will highlight capabilities and limitations, which in turn can highlight improvement opportunities. We suggest the following approach:

How can you plan your review?

Using a 3D approach can help:

Which elements of the system should you look at?

Some key elements you can apply the 3D approach to are:

Reporting and analysis

What kind of changes could I implement?

Some common outputs you can expect from a review are:

Summary

You may find that your review means you feel the need to upgrade your system in order to fulfil the majority of the objectives defined following the discovery phase. However, most of the time you will be able to implement instant changes to achieve some quick wins and make a big difference within your current build, even if your roadmap doesn't include a plan to upgrade.

At arum, we have consultants with extensive Tallyman experience and a breadth of knowledge in new system implementations, upgrades, designing and transforming processes so if you need any help or want a chat please do not hesitate to contact us.

About the author

Matt Riddall

SVP, Client Solutions, arum

Matt joined arum in 2008 and is SVP, Client Solutions. With almost two decades of experience across collections, recoveries and customer operations, he has supported hundreds of organisations, from retail banks including NatWest, HSBC and Lloyds Banking Group through to major utilities such as E.ON, Scottish Power and Thames Water. His expertise spans data, analytics, decisioning, technology and AI, helping organisations make better decisions, improve operational performance and navigate an increasingly complex technology landscape. Matt is particularly passionate about helping clients cut through market noise and identify practical solutions that deliver measurable value.