The Cobra Group adopts new multi-site scanning network
A lengthy process of capturing sales contracts is reduced with the introduction of a remote document capture solution across all global Cobra sites.
- Reduced courier, insurance and storage costs
- Eliminated errors and document losses
- Increased revenue due to faster client billing
- Enhanced data protection security
- Reduced time spent handling paper
The Cobra Group is an international organisation, providing outsourced sales and direct marketing activity for clients worldwide. Over the last 20 years Cobra has built a presence across 21 countries with 8,000 field sales staff.
In working with clients to meet their customer acquisition targets, the Cobra international team produces up to 10,000 signed contracts daily – each one consisting of one or two pages. Historically, all their contracts were being collected at each site, couriered to Cobra’s London head office, quality checked and then uploaded into each clients’ IT systems.
Cobra’s existing process of collating and uploading sales contracts was hugely time consuming and vulnerable to high error rates. Courier costs alone were £250,000 and insurance premiums had risen to £100,000 per year with expectations of future premium increases.
The risks associated with lost paper contracts were high – Cobra’s clients would receive revenue late or even lose the sale completely.
Also, this difficult process was creating a significant lead time between the contract signing date and the sale delivery date. As a result, Cobra began investigating how a document scanning solution could alleviate these issues and reduce their operational overheads.
Restore installed an in-house scanning solution at each of Cobra’s 100+ marketing offices across the UK and Ireland.
The solution comprised a bundled package consisting of a pre-configured PC, industry leading capture software and a scanner. These remote systems were then connected to a centralised scanning solution that we implemented at Cobra’s head office.
Each signed contract is now scanned at the remote site and the secure image is received by head office staff within seconds. Once checked at head office, the files are processed and returned within 24-hours with all data extracted.
This new in-house solution has significantly reduced Cobra’s original £350,000 annual insurance and courier overheads. They have also seen a significant reduction in the cost of physical storage space for paper. As a result, Cobra expects to realise the capital investment for the hardware and software within just 16 months.
With information now available far quicker, new business wins are delivered much earlier and therefore client payment is received faster. Cobra’s clients are seeing annual revenues increase by up to hundreds of thousands of pounds.
And in-house, Cobra’s administrators no longer have to spend time processing contracts and can focus on more commercially viable activities. They are better able to tailor their service to meet individual clients’ needs and can offer greater data protection security.