For many banks and financial services businesses, running invoice finance operations efficiently and effectively is a vital part of what keeps them in business. This process often involves expensive legacy technologies, complex process re-engineering and investment in resource, all of which divert attention away from their core businesses.
Outsourcing activities such as invoice finance product operations to Firstsource means our clients can focus on their core business. We have the knowledge, automation, analytics and workflow tools and technology to transform your commercial finance operational performance. Working on behalf of a UK bank, Firstsource is currently delivering invoice finance/asset based lending service operations that cover 20% of the total market in the UK.
The client, a prominent bank in the UK, provides commercial financing solutions to businesses. The client faced challenges of legacy systems that impacted customer experience and resulted in a high cost of service and exceptions management within their invoice factoring and discounting function. The Firstsource solution reduced cost-to-serve and delivered savings of $ 3 million.
of total business process volumes automated within 32 weeks, with 100% accuracy
RPA penetration was achieved across 33% of the processes in scope
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