PROVEN is an AI-powered automation system which processes and actions proof-of-debt claim, proxy and objection documents which are submitted by creditors into formal debt arrangement such as Individual Voluntary Arrangements (IVAs) and Protected Trust Deeds (PTD).
Designed for Insolvency Practitioner (IP) firms, PROVEN discreetly monitoring a firm's email inboxes for creditor communications and automatically extracts, digitises and analyses all attachments and claim-related information issued. The system's advanced matching algorithms and decision engine then automatically actions the claim and evidence outcomes and updates a firm's central CRM system.
For IP firms PROVEN delivers significant benefits in the supervision of debt arrangements:
- 90% of creditor claims auto-actions with zero manual touch-time
- Rapid admission of claims reduces Meeting-of-Creditor adjournment rates
- Quicker release of dividends and recovery of fees
- Significant reduction in suspense accounts
- 100% of duplicate claims submitted by creditors identified and filtered out
- Empowers staff to focused on higher-value duties
- Systematic, auditable and accurate data-driven process minimising manual error
- Responsive scalability to dynamically handle volume fluctuations in real-time
