debtflow wins credit today award!

9th Jun 2010

We are delighted to announce our recent win of the “Best Use of Technology” category with CCCSVA at the Credit Today Awards 2010!

Since implementing DebtFlow in 2007, CCCSVA (Consumer Credit Counselling Service Voluntary Arrangement division) has been able to scale up and take on more cases without having to hire more staff.

In 2009, TDX Group confirmed CCCSVA as the number one performer regarding distributions to creditors, case breakage, penetration and payment rates. CCCSVA is paying out on 90 per cent of cases approved, compared to the industry average of 50 per cent. TDX said that in response, speed to payments to creditors, quality of proposal and fee levels, CCCSVA comes up as “the best IP in the industry”.

Since using DebtFlow, all cheque payments are collated and printed for each creditor, eliminating the need for thousands of cheque books and the possibility of human error. The high level of automation also means that debtor payments can be consolidated by a managing agent, creditor or lender at the touch of a button.

Steve Nicholson, Chief Executive of CCCSVA says that Debtflow has played an important part in ensuring it has been able to meet the growing needs of debtors who are embarking on IVAs : “The recession has left many people facing unmanageable debt but CCCSVA, with the help of Debtflow, has been able to ensure that those who choose an IVA are given the best service and support possible. Due to the significant benefits that we have been able to achieve in terms of both time and cost savings, I believe DebtFlow is the best end to end IVA solution on the market.”

Steve Hull, Chief Executive of Sawfish Software says that his organisation was honoured that it was able to provide the technology that could help so many people: “We are delighted to be associated with CCCSVA and to be able to add value to its work by helping it streamline its operations. Winning the Credit Today Award is a real honour and a testament to my team who have worked so hard on the product.”