RCS Personal Finance Goes Live with PIC Solutions Collections System

RCS Personal Finance (Pty) Ltd. a division of RCS Investment Holdings (Pty) Ltd. and the Foschini Group, has successfully implemented PIC Solutions collections system to enhance its collections environment.

The PIC Collections System (PCS) is a powerful collections solution, with the flexibility to optimise the collections performance of almost any type of organisation. Developed by the PIC ICT and Credit Risk Management specialists, PCS combines industry collections best practices, flexible user controlled strategy definition, an intuitive user friendly collector interface and leading-edge system functionality.

During this pilot project, PIC Consultants worked closely with the RCS team to implement PCS and customised the solution to optimise the RCS collections environment. Since live implementation in November 2005, RCS successfully manages collector resources, the collections strategy and the outstanding debtors portfolio in a more efficient and economical manner, which has led to significant improvements in collections performance.

Regan Adams, Risk and Operations Director at RCS, comments, “The implementation of a dedicated specialised collections software solution in the form of PCS, is a major strategic initiative for our organisation. The ability to collect effectively on arrear accounts is of paramount importance to any financial services organisation. It is particularly significant for us given the nature of our target market. PCS provides us with a robust platform as we continue to drive aggressive growth targets in our organisation. The ability to intelligently manage our collections area through the application of best practise collections strategies provides us with enormous confidence in maintaining and improving the outstanding quality of our debtors? book.”

Dave Lewis, Director of Consulting at PIC Solutions, adds, “PCS was specifically designed to optimise the collections environment of credit grantors. PIC Solutions has extensive knowledge of the credit industry, both domestically and internationally, and our specialist consultants worked closely with the RCS team to ensure significant improvements in their collections environment. This project expands our successful ongoing relationship with RCS and we are pleased to be part of designing and implementing this solution.”