Don’t miss the interview with our Managing Partner, Frederico Faria de Oliveira, in this special edition about debt management and recovery
“Innovation, specialisation and the ability to manage large volumes are key in credit recovery”
The digitalisation and automation of the activity of credit recovery are already trends of the present and, clearly, are the future. To Frederico Faria de Oliveira, Managing Partner of Blue Screen IT Solutions, any entities with a considerable number of credit recovery processes benefit from digitalisation.
Blue Screen is a software development and system maintenance company that has been operating in the international market of information technologies for over 20 years. With services that include IT consulting, software development and management of cloud services, Blue Screen detected, as early as 2009, an opportunity in the development of solutions that streamline recovery and help creditors and recoverers to work together.
How does Blue Screen stand itself within the credit recovery sector?
Our solution (LMS – Legal Management System) began to be developed in 2009, together with a partner law firm, in order to speed up the collection of their fees and commissions related to credit recovery. Meanwhile, it has evolved, within the scope of the integration of another law firm with a major national bank, ensuring that the latter has access to the data necessary for the development of its credit recovery work. The latest version of the LMS uses technology that has revolutionized the credit recovery process as it moves into the hands of the lawyers, allowing them to work more closely with the creditor, implementing automatic processes, dynamic alerts and a personalized workflow that involves all those involved in the process.
Are digitalisation and automation of credit recovery activity future trends? What do you see as the main trends for the future of the activity and how will they evolve in the sector?
The digitalisation and automation of the credit recovery activity are already trends of the present and clearly are the future. Any entity with a considerable number of processes, namely credit recovery processes, benefits from digitalisation. These are complex and demanding processes, which depend on the assertive and timely contribution of the various parties, entities and departments involved. The sharing of information, in an integrated manner, allows a common vision of the processes in real time, so that everyone works in harmony. By allowing the various intervening parties to work on the same platform, the LMS – Legal Management System – can play an active role in the process, through the automation of repetitive tasks, also relieving people of several highly demanding, detailed and rigorous tasks.
Do you think that innovation, specialisation and the capacity to manage large volumes are gaining importance? How are these features important for Blue Screen’s clients in this sector?
Innovation, specialisation and the ability to manage large volumes are absolutely essential for companies to increase the efficiency of their legal and credit recovery departments, allowing them to keep up with the growing volumes without feeling the need to scale their teams. The LMS is exactly a system developed in this sense and has been allowing companies to see this reality.
The most recent figures from the Bank of Portugal show a growing indebtedness of the non-financial sector in a context of rising inflation. What impact is this situation having and may it have on the sector’s activity?
More and more companies are looking for Blue Screen IT Solutions in order to see the LMS being implemented to assist in the process of debt recovery. It is no longer only companies in the financial sector that see the need to digitalise and transform their legal and credit recovery departments in order to achieve more effective recoveries. Many other companies from a wide variety of sectors – whether insurance, utilities or large eco-nomic groups – feel the same need to keep up with the current economic climate and keep their activities sustainable.
(2022, September 28th). “Inovação, especialização e capacidade de gerir grandes volumes são fundamentais na recuperação de crédito” in https://www.jornaldenegocios.pt/negocios-em-rede/gestao-e-recuperacao-de-credit/detalhe/inovacao-especializacao-e-capacidade-de-gerir-grandes-volumes-sao-fundamentais-na-recuperacao-de-credito