The challenge: Cut time, cost, risk from the compliance workflow
As part of Performant’s collection services, the compliance team has to monitor
every interaction between collectors and debtors to ensure they adhere to all
laws, regulations, and customer service expectations. Every time a complaint
is made, or an error is captured, the auditors record it in a series of Corrective
Action Record (CAR) spreadsheets and deliver monthly reports on the results.
“Some of those spreadsheets had 40 or 50 columns,” notes Tereasa Vukanovich,
Manager, Regulatory Compliance & Audit.
As demand for Performant’s recovery services increased, the quantity and
complexity of the data auditors captured in the spreadsheets became overwhelming.
Vukanovich’s team grew to 15 people who spent hours of their time entering
data in spreadsheets and producing audit reports. The time and overhead cost
were significant and the process had a high risk of error from calculation
mistakes and missed data.
“It was a monstrous management process,” she says.
In 2019, Performant decided it was time to streamline the process. They looked
at different performance management systems, but found that they couldn’t be
customized to meet their specific needs. Then the Performant team learned
that one of their sister companies was using TouchPoint One’s Acuity system
and decided to demo the technology.
“Acuity could accommodate every item we asked for,” Vukanovich says.
“They molded the system to our needs.”
TouchPoint One’s team of experts worked with Performant to first define
every step in their compliance workflow, then customized the Acuity environment
to accommodate all reporting requirements organizing them by category and
sub-category. That included creating two separate processes for Performant’s
IRS and Non-IRS clients to capture and document any findings that resulted
from the call auditing process.
TouchPoint One also implemented a series of customizable dashboard views that
provide quick and easy access to the CAR documents and created a database where
all collector audit history is maintained.
“They were great to work with, and very detailed,” Vukanovich says.
The system went live July 15, 2020 and it was an immediate success. By
rebuilding all of the monitoring forms in the performance management system,
the compliance team completely transformed its regulatory compliance process.
The new workflow closely mimics the original process, but brings many time,
cost and quality benefits. These include:
Auto-populated monitoring forms based on user profiles that reduce
errors and eliminate the need for manual look-ups.
Automatic routing and notification at each CAR stage, which eliminates
the need to send hundreds of notification emails every month.
Ease of data capture and expanded reporting capabilities.
Significant reduction in man-hours to compile reports.
Monitoring dashboards to ensure the timely completion of the corrective action process.
“The compliance team is thrilled,” she says. She estimates that the
automated workflows and audit reports, and reduction in errors has shaved
40 hours per month of manual work for her team.
Vukanovich notes that the new system has been particularly valuable during
the COVID-19 pandemic, as auditors are all working from home. In the past,
new findings often required one-on-one meetings to share findings and
implement corrective actions, she says. But now all of those communication
steps are run automatically through Acuity. “It couldn’t have come at a
Performant is now implementing Acuity in three other departments that use
the same audit data, to increase the time savings and improve data sharing
across the organization. “We are saving ourselves so much time and so
many headaches,” she says. “It is just a better way to do this work.”
“I am very pleased with the way this has developed,” adds Dennis Christie,
Senior Director of Regulatory Compliance. “(I) look forward to seeing how
much easier the CAR process will become and the time that will be saved by
“We are saving ourselves so much time and so many headaches. It is just a better way to work.”
- Tereasa M. Vukanovich,
Manager, Regulatory Compliance & Audit
About Touchpoint One
TouchPoint One is the leading provider of performance optimization solutions
for contact centers. The Company’s Acuity product is a full-featured employee
engagement and performance management platform that enables improved decision
making, talent development, and process execution at every operational level.
TouchPoint One customer contact solutions deliver the compelling benefits of
gamification, balanced scorecards, employee dashboards, and advanced performance
management through innovative design and complete, functional alignment with
business processes and strategies. http://www.touchpointone.com