Challenge
Re-imagine A Platform Module
Location Services needed to build and implement a new integrated platform for their asset recovery operations. Old infrastructure, legacy systems, and technical debt were the main factors driving the decision to digitally transform their systems and applications.
The KPIs for the project were based on the ability to automate process flows and reduce the FTE count. The key to VRM is using microservices and new technologies to automate "Assignment Intake"
Key Areas To Remedy:
Automate Process Flows
Reduce FTE Count
Replace Monolithic Tech w/ Micro-Services
Automate VRM's "Assignment Intake"
Strategy
Build A Modern Repossession Engine
After using the "Design Thinking" methodology to empathize, define, and ideate through solutions, product owners and project stakeholders identified the need for an automated intake engine.
Key Areas To Remedy:
Data Validation
Debtor Of Record
Person Search
Deceased
Bankruptcy
Coverage
Asset
Lot Check
Address
VIN Decode
Fee Check
Solution - Data
Formulate A New Data Platform
TechFabric Enterprise Architecture experts worked with the Location Services internal technology team to plan a move to the cloud that would completely transform how the organization operates and processes repossession orders and transport fulfillment.
- Solution - Reporting
- Power BI To the Rescue
TechFabric turned to powerful Microsoft technology to improve the reporting feature of the new VRM Pro platform. The automation and integration tackled many of the automation challenges.
Azure Cosmos DB
Next-Gen tech to address the data layer
Power BI Query
Visualization to transform objects into tabular form, create links & structures, calculate metrics, and aggregate data
- Power BI Desktop
Publishing power with user-centric functionality and graphics
- Power BI Service
- Auto refreshing client reports based on schedules
Solution
Create a new rules engine to automate assignment intake
- Results
- A significant increase in the recovery rate and revenue
Results
Early Stage Metrics
Shortly after releasing the VRM Pro minimum viable product, Location Services saw immediate results and substantial efficiency gains. The Azure data platform proved to be the difference maker in the end. Subsequently, new features and enhancements have been in effect and are continuing to bring real value to the Location Services operations team.
+$890k
Overall Financial Impact on Client Business
73%
Increase in weekly assignments after 30 days
47%
Increase in weekly recoveries after 30 days
51%
Increase in weekly recoveries (By VIN) after 30 days
What the client had to say about the project.
Client Product Owner
vrmPro
"Your team's digital transformation efforts have completely revolutionized our vehicle repossession business. We've experienced unprecedented efficiency gains, reduced operational costs, and a significant boost in recovery rates. It's like our business has been reborn in the digital age, and we couldn't be happier with the results."
- key takeaway
- Good Work Speaks For Itself
With a sound Architecture, the platform was built to scale with multiple integrations allowing the business to grow their volume by 250% in 3 years.