Credit Reporting and Disputes Management

Boost Disputes Management Efficiency by 30%

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Increase Disputes Management Efficiency Now

Prepare Your Disputes Management to Handle 

Rising Volumes. Rising disputes volumes continue to exhaust dispute processing operations with no signs of abating.

Notably, complaints to regulators surged nearly 100% in the first months of the coronavirus pandemic.

Here, Bridgeforce shares 3 key elements guaranteed to increase disputes management efficiency, if executed properly.

 

Increase Operational Efficiency by up to 30% with Seamless Approach

Tackle these three key areas for increased operational efficiencies and successful disputes management.

1. Disputes Processing Effectiveness

Adjustment Efficiency Wins
Deploy a Dispute Case Management System (CMS)

  • Enable automated upload of indirect disputes from e-OSCAR and manual input of Direct Disputes
  • Automate updates from the Dispute CMS to all systems of record (SOR)
  • All customer disputes are visible in a single system, eliminating the need for agents to cross-reference in multiple systems
  • Eliminates the need for time-consuming manual input, while reducing errors with efficiency improvements ranging from 5-10%
Implement a dispute queue structure

  • Aggregate indirect disputes and assign to targeted queues for consistency when conducting a reasonable investigation (e.g., Dispute queue – Account Ownership)
  • Increase investigation expertise by segmenting dispute codes and reduces inconsistent investigation outcomes, thus saving time and improving customer experience
Consolidate duplicate submissions

  • “Group” duplicate disputes for parallel investigation by a dedicated analyst
  • Improves processing time and consistent response to the customer – can reduce duplicate dispute processing time by 30+%

2. Data Quality Management to Confirm Accuracy of Furnished Data

Adjustment Efficiency Wins
Review data and coding systematically

  • Perform routine comprehensive data assessments
  • Conduct code mapping to certify alignment between system of record and furnished data
  • Reduces compliance risk and dispute volumes due to better reporting of customer data furnished to the CRAs
  • Achieves up to a 30% decrease in disputes rate when DQS implementation is coupled with operational changes

3. Forecasting and Planning to be Prepared for any Volume

Adjustment Efficiency Wins
Evaluate internal dispute processing

  • Analyze volumes and processing time by dispute type
  • Forecast volumes to evaluate the efficacy of strategies
  • Review processing changes to assess efficiency opportunities
  • Enables segmentation of disputes to establish effective queue to streamline processing
  • Facilitates understanding of processing gaps to identify issues early
  • Ensures compliant processing

Start Realizing your Disputes Management Efficiency Gains with Help from Bridgeforce

As you assess your dispute management capabilities, you can leverage our 20 years of experience helping clients to identify operational efficiencies to manage disputes more effectively.

Bridgeforce can conduct an end-to-end dispute processing assessment, design effective best in class processing strategy for implementation, facilitate regression testing, and provide expert guidance to address your organization’s dispute management needs.

Contact us – and our Disputes experts will be in touch with you soon.

Do You have Operational Gaps?

calculatorFind out where your operational gaps may be by using our proprietary disputes calculator. Load in your values and receive back staffing and efficiency information, and more.

Request access today. Simply put the following phrase in the message portion on this link: “Requesting Dispute Processing Calculator.”

 

 

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