Streamlining Insolvency Management for Local Authorities

For many Local Authorities, managing insolvency claims is both time-consuming and resource-intensive. Voting on insolvency cases and processing claims often gets sidelined, which can result in a significant loss of potential returns. 45% of Local Authority claims are not admitted due to inefficiencies, while delays in processing documents can further diminish potential returns.

With Aryza Connect, Local Authorities gain access to an automated system that streamlines the insolvency management process. The platform allows councils to download documents in bulk, assign workloads to staff, and register votes, all through an intuitive, user-friendly interface.

This saves time and ensures that claims are processed more accurately, safeguarding the return that Local Authorities are entitled to.

Boosting Returns with Managed and Aryza Connect Services

Aryza Connect offers two service levels: Aryza Connect and Aryza Evolve. Both are tailored to maximise returns while reducing the administrative burden on Local Authorities.

• The Aryza Connect Service allows Local Authorities to automate the most time-consuming tasks, such as voting on cases and has been shown to boost the admittance rate of claims. Aryza’s statistics indicate that, through the Aryza Connect Service, Local Authorities can realise up to £1.5M in unclaimed dividends that would otherwise go unnoticed 

After partnering with Aryza for five years, these returns could scale to £9M, providing a steady uplift of approximately £150K per month.

• For Local Authorities seeking a more hands-off approach,  Aryza Evolve handles the entire insolvency portfolio. With this comprehensive solution, Aryza ensures a 90% admittance rate for claims, and with regular monitoring of dividend payments, the potential for realising up to £3M in previously unclaimed funds becomes a reality.

Simplifying the Claims Process and Enhancing Oversight

Aryza Connect also offers robust reporting and portfolio insights, providing Local Authorities with the data they need to make informed decisions.

The platform includes balance confirmation tools to ensure Proof of Debt (POD) accuracy and automated POD generation, making case management more transparent and efficient.

For Local Authorities, Aryza’s intelligent systems are particularly valuable when managing consumer vulnerabilities. Integrated within the platform is an FCA-approved categorization system, which flags vulnerable individuals, ensuring they receive the appropriate support.

Uncovering Additional Revenue Streams

Beyond insolvency management, Aryza provides further value through its Creditor Compensation Programme. This programme taps into approximately £600 million in compensation owed to creditors due to mis-sold PPI, which Local Authorities can claim with minimal effort.

Additionally, Aryza’s Consigned Funds service identifies unclaimed bankruptcy dividends, allowing Local Authorities to recover significant sums that would otherwise go to charity.

This process is conducted annually, and Aryza reports that even small portfolios can recover between £50K to £150K, while larger portfolios can see returns as high as £5M.

Conclusion: A Game Changer for Local Authorities

In a challenging financial climate, Aryza Connect offers a vital solution for Local Authorities looking to optimise insolvency management, increase efficiency, and uncover untapped revenue streams. With its automated processes, real-time data integration, and comprehensive service options, Aryza Connect ensures that Local Authorities can meet their insolvency challenges head-on, while realising significant financial returns that would otherwise be lost.