For American Credit Acceptance (ACA), serving its nearly 190,000 customers and managing a portfolio of $2.6 billion all comes down to the data. The company must have 100 percent accurate data available at all times in order to service the customer most effectively. The key computer system that makes this possible is the servicing system.
In 2016, ACA determined that its existing system would not be able to support long-term growth and that they would need to innovate to meet the customer’s and company’s needs. After a rigorous review, the team selected Spectrum as their new servicing platform. In order to complete a successful conversion to the new system, 300 million data points connected to more than 515,000 accounts would need to be migrated on a tight schedule with limited downtime.
Many team members dedicated their time exclusively to serve on the Spectrum Project Team, while others eagerly took on tasks associated with the project in addition to their regular work loads. Ultimately, nearly every department in the company had some touchpoint with the system, including more than 130 associates working thousands of hours.
Throughout the span of the project, the Spectrum conversion was prioritized as the top initiative at ACA. Nearly two years after the decision to switch systems, the ACA team delivered in a big way with a seamless conversion to Spectrum on August 6, 2018.
The new Spectrum platform supports the efficiency of ACA’s teams by reducing the number of interdepartmental emails, making collection calls easier and providing letter automation features and role-specific work screens. In addition to the new platform, the project has delivered a new Data Warehouse, which benefits ACA’s analytical and IT teams, and a new mobile-friendly customer portal that provides up-to-date account information and streamlined payment processing to consumers.
With consistent innovation and development, ACA continues to support business growth and change, the Spectrum conversion is just one of the many enhancements ACA has made to better serve their customers. “The new system provides real-time data which helps our associates answer the questions our customers often ask,” said VP of Innovation & Strategy Realization Amar Singh, who led the conversion for ACA. “This translates to a better experience for both our associates and our customers.”
For Anu Agarwal, President of Operations & Innovation, the move to Spectrum is an example of what sets ACA apart.
Says Anu, “At ACA, continuous improvement and innovation is a big part of our culture and success. While we aim to get pride and fulfillment from our successes, we also strive to maintain the humility to understand that we can get better at everything that we do.”