“Alteryx hasn’t replaced any existing technology. Instead, it’s been key to improve the performance of all our tools, and to have a more connected technology ecosystem,” explains Jaime Periquet. Building new applications with Alteryx gives RCI faster processes that used to involve months of work. Now they can be delivered in just a few days. Response times are much more agile, because teams of professionals are dedicated to tasks that really add value to the Company.
Using Alteryx technology has led to a qualitative leap for RCI in terms of data management, complex predictive modeling, and Staff resource optimization. For example, RCI receives around 200,000 emails every year. The Organization invested in several full time staff to classify and process the messages. With Alteryx, a connection with SFDC was established and using certain keywords, a predictive model was created too. The Company is now able to classify the emails into 40 categories with a 90% success rate. With Alteryx, RCI managed to increase the contact rate from 50% to 80%, significantly reducing reputational risk.
The Company also increased automatic credit acceptance by applying Alteryx-trained predictive logistic regression models. This saves a serious amount of time for the Verification Agents, who can carry out more worthwhile activities. It has had a significant impact on the Company’s efficiency and on its budget. Finally, the Company has reduced manual checks in a big way, thanks to the fraud detection model. With these time savings, Agents have reduced fraud by 40%. This also has a major impact on the cost of risk, which has now decreased by approximately 30%, saving several million Euros per year and significantly increasing net revenue. At the same time, the implementation of this new system has reduced the error rate by 50%, turning mistakes into a thing of the past – more or less.
All of these business process benefits have directly affected the ability to retain the Company’s most valuable Talent. The staff turnover rate, which was 20%, has been reduced to less than 10% today. Technology also has an impact on the motivation of our Teams.
In short, RCI has been able to optimize resources by automating, classifying and processing more than 200,000 emails receives annually with a 90% success rate. It has also achieved a 30% increase in automatic credit acceptance thanks to the application of predictive logistic regression models that are trained through the Alteryx technology. That’s a 30% time saving for RCI’s Verification Agents, who can apply themselves to higher value-added activities. This has significantly impacted both the Company’s efficiency and budget and has hugely improved working conditions for Staff.