“We now have a robust risk management system that also allowed us to create an early warning process so we can screen our portfolio daily, something that was impossible to do manually.”
Doruk Faktoring’s mission is to expand their portfolio of corporate clients by serving micro and mid SMEs and to provide the fastest and easiest faktoring solutions using digital channels and analytics solutions. To support this growth, they needed to replace their manual processes with automated decisioning and needed a solution that could be implemented quickly. With a small IT support team, they were also seeking a user friendly, flexible platform that would require minimal IT support in both implementation and production phases.
Doruk Faktoring chose Provenir over other vendors and developing their own decisioning engine in house for several reasons, chiefly the platform’s flexibility, minimal implementation time and reliance on IT, and cost effectiveness. The ability to develop and run models written in native Python or R directly in Provenir was also a key advantage over competitors. Provenir also provides the capability to easily integrate with different data sources including credit bureau, web services, and their own databases.
With Provenir installed, existing manual approval processing that took 30-60 minutes is now completed in less than a minute. “Without this speed, it is impossible to grow. This is step one to offering better digital resources to small companies,” said Ilker Arslan, Business Analytics Director. “We now have a robust risk management system that also allowed us to create an early warning process so we can screen our portfolio daily, something that was impossible to do manually.”
Provenir’s Professional Services team helped Doruk Faktoring go live quickly. “I am accustomed to IT projects taking much longer to implement so I had my doubts when Provenir presented a three-month timeline,” said Arslan. “The entire Provenir team was very knowledgeable and supportive. We actually went live even sooner. My team is very self-sufficient now, thanks to the training Provenir provided. They are also very quick to respond when we do have questions.”
With automated decisioning, the sphere of competition expands. “With this digitalization, we can now compete with banks. When a small SME goes to a bank for credit, the credit line process may take weeks. But with our fast and quality digital service, we can finalize a request in a few minutes and pay the customer the same day,” added Arslan.
