Case Study
A nationwide third-party debt collection agency compared building an internal licensing function against outsourcing. Choosing Cornerstone avoided the cost of hiring, training, and software, reduced operational costs, and added a client portal for managing licenses and bonds.
Nationwide third-party debt collection agency · Debt Collection
A nationwide third-party debt collection agency compared building an internal licensing function against outsourcing. Choosing Cornerstone avoided the cost of hiring, training, and software, reduced operational costs, and added a client portal for managing licenses and bonds.
Before
The agency was in search of an efficient and cost-effective solution for managing its multitude of licenses. Handling this internally would entail substantial operational expenses: hiring, training, and potentially replacing a full-time employee due to turnover.
Before
The agency would also need to develop processes and software to effectively manage the various licensing requirements across numerous jurisdictions. Rather than invest all that capital, time, and resources, it wanted a vendor who could be proactive, own the licensing process without much oversight, and keep a finger on the pulse of evolving requirements.
Engagement
With 25+ years of experience managing licensing for ARM industry clients, Cornerstone's specialists knew how to ensure every license was filed accurately and on time, letting the agency stay focused on its core business.
Platform
The agency uses Cornerstone's client portal to help manage its licenses and bonds more effectively, with Cornerstone constantly improving the portal while keeping pace with the licensing landscape.
Outcome
The agency reduced its operational costs compared to handling licensing in-house, and no longer worries about the licensing or missing a deadline: Cornerstone is proactive and asks for items needed months before they are due.
In Their Words
"Cornerstone is always on the ball with watching all of our licensing and things like that need to be done, nothing falls through the cracks. The proactiveness, responsiveness, friendliness, and ability to adapt is great."
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