05 Apr Financial Management Software
Managing Company Growth With Better Software
How updated solutions helped one financial counseling firm increase their ROI and efficiency
CCCS is one of the largest consumer credit counseling and financial agencies in the country. The non-profit company helps the community by enabling clients to secure mortgages, buy cars, and deal with financial problems.
The organization’s software system was outdated and not keeping up with the growth of the company. CCCS hired Daxima to evaluate the current business and offer a solution that would help the organization grow.
As a financial firm, CCCS has to collect reams of information about their clients’ financial status and provide it counselors, who then analyze it and provide recommendations.
However, the system that collected the data and the system the counselors used were disjointed. This meant that the counselors had to manually enter financial information into their internal system, which was very time consuming.
Additionally, the system was not able to connect to any of the credit reporting agencies—Experian, Equifax, Transunion—to download and populate the client’s financial information.
What the company needed was a secure system that was accessible by both internal and external users, only required information to be entered once, and provided an appointment system to manage employee schedules.
The system also needed to be complex enough to parse a large set of data and offer clients specific solutions quickly.
The end goal was a efficient tool that allows external users to enter their personal information into an easy-to-use guided application.This information would then be formatted and presented to the counselor, who would walk the user through the information over the phone.
1. Conceptual Development
There were three main constituents for this application. The external clients needed a simple, secure, and effective way to enter a lot of information quickly. They also needed a scheduling and secure messaging platform to communicate with the company and their counselors.
The internal counselors spent most of their day analyzing financial data sent to them by clients, going over that information with clients by phone and managing their call schedule. .
The management team also needed detailed reporting of activity by counselor, and the ability to schedule and assign cases to each user.
Our goal was to set out and meet each of these requirements without compromising performance, security, or usability.
2. Our Approach
Since we were dealing with very distinct user types, we knew we had to address all needs in terms of security and usability.
While the system had to be user-friendly enough for the end users, the internal facing piece of the application needed to be robust enough to offer financial tools for counselors and to manage their calls and appointments.
Furthermore, managers needed detailed reports and the ability to view and modify schedules quickly.
3. Prototyping and Iteration
We developed the user interface and a small proof of concept in order for all users to have a better understanding of the overall flow of the applications.
During the implementation process, the new application had to interface with a few legacy applications, as well as along with the consumer credit reporting agencies to exchange data. We also needed to move thousands of accounts residing in the legacy application into the new system.
Because Since we follow an Agile process, we worked continuously interfaced with the client after each build to get feedback and make any necessary adjustments. After each two-2 week sprint, we provided a demo for all stakeholders, gathered feedback, and made adjustments
By the end of the long process, our client had an up-to-date tool that they could use to support all users, grow their business and interface with their clients.