Case Study: OnDeck modernizes third-party collections management with Provana BI

OnDeck saves $60K and automates 80% of workflows with Provana

OnDeck, a global B2B lending company, faced significant challenges in managing its network of third-party collection servicers. Their difficulties included capturing real-time data from disparate servicer systems, standardizing that data, and performing tedious reconciliations. This lack of oversight and automated reporting meant excessive time was spent on manual report building instead of gaining performance insights. To address this, OnDeck partnered with vendor Provana for its business intelligence solution.

Provana implemented a centralized BI platform with a data warehouse and ETL capabilities, providing automated, interactive reports. This solution gave OnDeck and its servicers a single source of truth for near real-time information, eliminating manual efforts and data discrepancies. The results included identifying a top-performing supplier managing $13M in accounts, automating 80% of workflows, and achieving $60K in cost savings. OnDeck's team now uses Provana's reports daily to make informed decisions, easily compare servicer performance, and anticipate future cashflow.

OnDeck