BankruptcyWatch, a SaaS solution for automating bankruptcy work, announced this week that Lenders and Servicers now have the ability to automate virtually all of their bankruptcy workflow steps as a result of their newly enhanced filing notifications and PACER API. “We saw that our clients and others in bankruptcy collections needed to immediately and electronically understand the full picture of each newly filed bankruptcy,” said Lance Wickham, CEO at BankruptcyWatch. “Organizations usually need more information than is typically available from notifications in order to appropriately react. We make that information available in a format that allows BankruptcyWatch clients to skip all of the manual legwork - including downloading and reading documents - and go straight to making decisions. This saves an enormous amount of time and resources required to manually research each case.”
Many BankruptcyWatch clients have already moved completely away from using PACER. These enhanced notifications allow companies to further reduce, and in many cases completely eliminate, the mind-share that is required to deal with new bankruptcies. “In 2017, we expect our clients to move completely beyond the concept of individual bankruptcy notifications. Imagine arriving at work and seeing a single notification that your company’s bankruptcy work has already been completed for the day. That’s now possible with BankruptcyWatch.” said Wickham.
Main benefits of this enhanced product:
- Increased Staff Efficiency. Cut payroll costs and shift the focus to making sound decisions instead of mindlessly entering data or wasting time searching for documents in each case.
- Reduced Risk. Because the data is electronically gathered directly from the court system using the BankruptcyWatch PACER API, there is less risk of staff missing an important detail or making a mistake in the data entry process.
- Customizable Data. With literally thousands of available data points, BankruptcyWatch makes the relevant information easily accessible in every case.
- Multiple Notification Methods. BankruptcyWatch clients can now receive notifications and data via API call and text message (SMS) in addition to the industry standard email method. This allows for automated file updating and workflow advancement as well as more instant reactions by agents in the field.