debtflow underpins uk iva industry

17th Jul 2007

Sawfish Software’s DebtFlow is building a reputation as the Customer Relationship Management (CRM) and Case Management software of choice for the Individual Voluntary Arrangement (IVA) and debt management market.

DebtFlow is used by a number of blue-chip companies which have been managing an increasing number of IVAs in recent years. The software solution is now underpinning IVA provision for companies including Central Trust, Consumer Credit Counselling Service (CCCS), Haines Watts, Vantis plc and Bond Partners LLP.

The dedicated business software solution is used to improve the management of debt control and client transactions. DebtFlow is specifically designed to automate many parts of the process, enabling administrators to handle a higher number of cases. By capturing all relevant details for each case, advisors are able to deal knowledgeably with each individual account. Additionally, each stage of the process is mapped out, ensuring full completion of tasks, with reminders for time-dependent operations.

The UK insolvency market has seen massive growth in recent years, with more than 100,000 individual insolvencies recorded in 2006, and an 82 per cent year-on-year growth in IVAs*. There are reports that the amount of personal debt has now begun to stabilise. However, recent increases in interest rates to the highest level in five years, aimed at curbing the rise in personal debt, are expected initially to leave thousands more facing the prospect of insolvency. This could in turn lead to another growth in IVAs.

Steve Hull, chief executive of Sawfish Software, said: "It is vital, in providing IVAs, that practitioners are in a position to offer the best service possible, both to the creditors and the individual. DebtFlow is designed to enable the very best in CRM, with the flexibility required to handle individual cases.

"We are working with blue-chip companies to customise the solution to their own requirements. Many companies have faced a challenge with the rapid growth in the uptake of IVAs. By using DebtFlow, IVA practitioners have a clear workflow ensuring the correct processes are completed within the required time frames. Not only does the streamlining of the processes bring added value, it also instils confidence."