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Overview
Our client wanted to create a financial assessment program that organizes clients based on their financial capacity to pay. We proposed a program focused on building relationships with prospects and helping those in need of financial support.
Location
Toronto
Client
National Law Firm
The Opportunity
Based on the new statistics, our client had an interesting discovery. They found that their ability to provide financial assistance was largely dependent on customer’s ability to pay debt.
Using these insights and statistics, we proposed a program with a focus on improving service. This program would assess the financial situations of individual customers and recommend appropriate next plans.
The Plan
We helped our client conduct research on a variety of scenarios and case studies to create the basis for the financial models.
We created a main financial assessment template for our client as well as additional models for optimal, accurate results. We kept in mind that our client also used financial assessment models to make submissions to the CRA (Canada Revenue Agency).
We offered total assistance during each phase of the program’s implementation. One instance was during the recruitment of an internal team to handle financial assessments. We also collaborated with a licensed insolvency trustee and provided financial assessment training.
The Results
The financial assessment system proved to be very beneficial.
Our client was able to expedite casework because our assessment system generated more valuable insights about their customer base. Our client saw an increase in financial negotiations involving their customers’s finances.
Our client continues to use the financial assessment system to improve their service delivery and prospect generation.
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