EquiPro Investments, also known as Security Credit Services, is an investment firm which buys account receivables. Having purchased more than $13 billion in asset receivables over 15 years in operation, EquiPro recovers money owed to credit card companies that don’t otherwise have resources for collecting these debts. When debtors are unable to make monthly payments, EquiPro buys distressed accounts from credit card companies and works with vendors such as law firms and collection agencies to establish payment plans and recover funds. These complex operations require swift and precise communication between EquiPro and vendors involved in the recovery process. As the company’s old software became too slow to handle the volume of transactions, EquiPro looked for a new solution. “We’re in a fast-paced industry,” Leo Seicshnaydre, Senior Data Analyst says, “and the company needed a faster setup”.

DocuWare is the communications centerpiece

DocuWare is the centerpiece in the communications that take place between EquiPro and the vendors involved in each debt recovery process. EquiPro receives original credit applications from various institutions, which arrive in PDFs,TIFFs or other digital file formats. EquiPro also receives documents in Excel spreadsheets that list payments already made by debtors. These documents are forwarded to the vendors involved in the debt recovery process. For privacy reasons, access is restricted, and the documents can be sent only to the vendors working on that issue. DocuWare keeps track and assigns access privileges to all documents related to EquiPro’s account acquisitions, processing and distribution to vendors. “When we acquire and sell new accounts, as they move through our system, DocuWare becomes the sole system of record for these documents,” Seicshnaydre says.