Property Company improves collection rates

By Tricord
EDITH AVENUE

McConnell Chartered Surveyors advise a wide range of clients on all aspects of commercial and residential property throughout Northern Ireland as well manage ground rents for a diverse selection of clients.

Situation

When McConnells first approached Tricord for solutions to their Ground Rent Demand mailings they were printing, folding and stuffing thousands of envelopes themselves. It was a huge effort requiring loads of overtime by staff who were distracted from their day to day tasks. The task of mailing the demands was now at breaking point!

Solution

Tricord was able to bring a strategic approach to the whole cycle of mailing the Ground Rent from data management to integrated Bank Giro to Lodgement Slip. By working closely and in partnership with the team at McConnells Tricord has significantly reduced the time required to prepare and mail the thousands of demands now mailed out.

The partnership then took a bold step and launched a payment portal, developed by Tricord, to take payments 24/7 releasing even more staff time and streamlining both the service to the end customer and the administration required to support it. eDemands were the next logical decision by the partnership on their strategic journey. This went even further in 2020 when McConnells staff were furloughed – Tricord stepped up and provided a team to staff the Payment Line.

Results

With many ground rents being really low value McConnells now have both the infrastructure and processes in place that gives enormous efficiencies at every stage of the process and on every channel – which now included mail, electronic, telephone and web.

Working with Tricord over the past 10 years, their personal and innovative approach has created both efficiencies and significant increases in ground rent payment rates.

Frazer Hood
Director, McConnell Property