Insolvency BPO Services
Personal insolvency is a significant industry – especially when it comes to Individual Voluntary Arrangements (IVAs).
If you manage an insolvency practice, the opportunity is certainly there for business and revenue growth.
However, this can lead to increased overheads and expenses, which any business owner would like to keep to a minimum to not negatively impact profits.
Outsourcing certain processes of IVAs to a reliable Business Process Outsourcing (BPO) company can be a great way to reduce expenses.
At our Business Process Outsourcing Centre, we provide personal insolvency practitioners with comprehensive services and advice that are tailored to meet their specific needs.
Let’s review some of the advantages of working with our expert team.
What does personal insolvency mean, and how does the Consumer Links team fit in?
In simple terms of finance, personal insolvency means that an individual is unable to pay his or her debt when due.
Sometimes, insolvency can lead to bankruptcy, although this is not always the case, as individuals might consider other viable options.
These considerations include informal arrangements, debt management plans, IVAs (as mentioned), and debt relief orders.
For an insolvency practice, clients must be assisted in dealing in the best possible way to ensure that they know what their options are, and what they need to prepare for should they be facing bankruptcy.
At Consumer Links, our insolvency BPO teams know how crucial it is to assist clients when they need solutions for debt management and to have a razor-sharp focus.
Therefore, we help alleviate administrative burdens through various processes, allowing you to focus on the support your clients need.
How does insolvency BPO work?
The main goal of insolvency services is to streamline business processes, cut down operational costs and accurately help companies to fast-track various steps of the insolvency process.
These include automation with leading software that can easily manage tasks such as processing claims and tracking assets, as well as routine tasks that include data entry and reporting.
Why is insolvency BPO important?
An insolvency service can ensure that an insolvency practice delivers results with the necessary accuracy and adheres to compliance.
BPO providers can reduce the margin for error and ensure that there are no legal complications with any client’s service.
What are the advantages of insolvency BPO services?
There are several advantages when using insolvency services.
Here are some considerations:
1. Scalable solutions that are flexible and adapted to every client's need
No two clients will face the same legal or financial advice or situation, which means an insolvency practice needs to have flexible solutions to suit their unique needs.
BPO providers can help manage workloads, while also keeping costs loads and ensuring results of the highest standards are achieved.
2. Expertise in best practices
A BPO insolvency service brings a lot to the table in terms of expertise and being specialists in insolvency processes.
Added to this, companies benefit from getting this expertise at a fraction of the cost that an in-house team hire would have been.
3. Access to leading IT and infrastructure
Outsourced providers already use industry-leading software and processes to provide support for non-core insolvency administration.
They have the infrastructure and equipment to provide an expert service, which means that the companies that they work with will not need to purchase extra equipment.
When should an insolvency practice consider hiring an external insolvency service?
An insolvency BPO provider can be vital when it comes to helping a business manage high workloads.
Daily administrative tasks can provide relief to companies with a high workload, and boost productivity as well.
Want Free Insolvency BPO Advice?
Gain Access to our Outsourcing Consultants today
Chat with us today
Insolvency BPO can help you fine-tune business operations and fast-track the turnaround on client expectations. Contact us today if you would like to learn more details about how an external insolvency service can benefit your business.
FAQ's
Have a look below for more information about insolvency BPO.
What are some of the solutions that an external insolvency service can provide?
Insolvency BPO not only plays a role in reducing costs – these services can also lower risk, and boost efficiency and productivity.
At Consumer Links, we can assist with, among others, outsourced IVA lead generation, outsourced drafting and MoC, outsourced IVA supervisory, debt solutions and outsourced credit control and arrears.
Why should you consider hiring Consumer Links’ BPO services?
Consumer Links is a leading provider of insolvency outsourcing services, with over 15 years of experience in the industry to date.
We’re a trusted BPO service provider for leading IVA companies, and as a UK-owned outsourcing center organization, we adhere to OFCOM, ICO and FCA regulations.
We have a team of diverse highly trained and experienced IVA agents and can assist with a wide range of insolvency processes.
Our operation can provide both scripted and non-scripted support, and our pricing is competitive without compromising on quality.
Can a business of any size use insolvency BPO services?
Insolvency services can be adapted and scaled according to various business needs.
Outsourced insolvency service providers can provide free debt advice and guidance, support job functions for redundancy payments, and ensure that fraudulent activity is kept to the minimum.
Even company directors of smaller insolvency agencies can use BPO services to ensure that their operations are streamlined and that they can achieve their business goals successfully.
These services empower companies to have economic confidence and the support they need to run successful businesses.