Sales at Arum, the Edinburgh headquartered specialist debt recovery consultant have surged by 36 per cent in 2013-14 to reach £3.4 million.
Last year's additional business shows a rising trajectory on the previous year's 30% turnover expansion, with "double digit" growth predicted for next year as the firm seeks out new market segments to explore.
Arum advises companies on the methodology and best practice of debt recovery, using sophisticated digital analytics to help companies improve their skills and training in the prevention and mitigation of bad loans. The company ascribes its success to the winning of larger long-term contracts in the financial services-facing debt collections and recoveries consultancy in the UK and Ireland.
During the year Arum created permanent presences in London and Dublin as well as its headquarters in Edinburgh and expanded its payroll to 32 employees.
Arum also won a number of key advisory and systems integration projects during the year, including debt collections and recoveries services supplied to undisclosed "major national and international companies".
Aleks Tomczyk, Arum's chief executive told the Sunday Herald: "Our strong performance was down to the hard work put in by the great team we have here. Feedback from our clients shows that they value our independent views as well as the experience and skills of our consultants to help them transform their operations. Our people deliver 'sleeves-rolled-up' problem-solving and knowledge-sharing with the in house team that is widely appreciated."
Andy Pritchard, Arum's director of professional services, added: "We are very positive about the future. I am pleased to say that 2014-15 has started well and we have a number of great new additions to our team. They will enable us to help our clients move towards excellence in debt collections and recoveries - treating their customers fairly and as individuals whilst achieving their other business objectives too."
Arum Systems Ltd provides independent and specialist solutions to a primarily blue-chip, client base in banking, utilities, BPO and financial services sectors. Its debt collections and recoveries consulting team helps clients improve their means of recovering debt while "treating the customer fairly, being compliant with legislation, improving cashflow and decreasing profit and loss account charges for bad debt". Arum's expertise in the space includes strategy, operations, data, analytics, communications channels and systems capability.
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