Technology and Analytics
Diversified Recovery is in constant pursuit of using existing and new technologies to drive better recovery performance. In addition to our thorough account management and monitoring processes, the breadth of technology tools we use allow us to add valuable new information to our clients' accounts. More importantly, our effective combination of thorough account management and various technologies enables us to consistently achieve exceptional recovery performance and reduce our days to recovery for our lender clients.
License Plate Recognition (LPR)
As one of the top 3 largest operators of DRN LPR systems in the country, Diversified Recovery has a substantial depth of historical location information that enables our team to rapidly verify given addresses and pursue new qualified addresses that our lender clients did not have. As well, our LPR spotter-car/tow platform tied directly into our effective field agent investigative processes, enable us to achieve exceptional recovery performance, and have higher account management capacity resulting in greater investigative frequency on all accounts.
As basic as it may seem, having mounted laptops in all of our fleet vehicles, enables our field agents to have access to real-time account information, search for new relevant information on leads generated in the field and communicate important information back to clients in a timely manner. As well, laptops enable our agents to run completely paperless and manage all information and communication on an encrypted platform.
Incident Recording Video Cameras
Our fleet is equipped with DriveCam video cameras to minimize risk. The cameras are a very effective tool in diffusing tense situations and managing aggressive debtors that might threaten our agents or attempt to drive a unit off of a lift. As well, if an in-tow incident does occur, having a video and audio record of the incident can prove valuable in managing the situation.
GPS Fleet Tracking
All Diversified Recovery fleet vehicles are tracked and monitored in real-time. Knowing where our fleet vehicles are is an effective tool in both rapidly responding to a new qualified address, and in managing our field agents' effectiveness for our clients.
Investigative Database Platforms
Diversified account managers have secured access to the TLO and Whitepages Pro information databases to qualify information and to develop new information leads. Our account managers are trained to know the exact processes and policies required to stay within compliance, yet develop valuable information to locate collateral.
At Diversified we are constantly working to turn data into information that we can use to improve both our operations and our performance for clients. The goal of our internal analytics is to maximize our effectiveness for clients and try to achieve operating efficiencies that enable greater service depth and capacity.
Above all else, we are constantly using and further developing our analytics to exceed our clients' performance expectations. We strive to understand our clients' performance benchmarks, and then monitor, analyze, and if needed, improve our progress in working toward those goals. Our performance analytics allow us to know client by client, exactly how many vehicles need to be recovered on a weekly and monthly basis to exceed each of our clients' recovery percentage and days-to-recovery expectations. As well, we use those analytics to set standards, goals and individual employee performance expectations throughout Diversified.
As one of the largest operators of LPR systems in the nation, we have developed analytics to focus the effectiveness of our LPR technology to maximize both effectiveness per camera system and efficiency throughout our overall service areas. Our analytics enable us to determine if each one of our LPR systems is being used effectively and where additional training might be needed to improve our agents' use of that tool. As well, our LPR analytics enable us to focus internal account management and field processes to prioritize qualified information for improved recovery rates and improved days to recovery.
Diversified management uses a breadth of internal analytics to assess our operations and improve performance, efficiencies and capacity on an on-going basis. The objective in our application of analytics is turning our internal data into information to make effective decisions with. The goal of our use of analytics is improved performance for our lender clients.