Encorsa, Romanian integrator of digital transformation services, through low-code and no-code hyper-automation technologies, RPA and AI, supported CITR, the leader of the insolvency and restructuring market in Romania, to digitize and automate the activity through an advanced low-code automation solution. CITR thus digitized about 170 internal processes in the last 3 years, saving tens of thousands of hours of repetitive activities, according to a press release issued by the company.
CITR has had an accelerated development of its activity in recent years, including managing some of the most impactful bankruptcies in the insurance field in Romania, and digitalization has supported the expansion of the client portfolio in the last three years. The solution implemented by Encorsa contributed to the efficiency of the processes, the optimization of the activity and the maximization of the working time, eliminating repetitive and redundant activities.
“The project developed together with CITR gave us the opportunity to show what we can do in terms of efficiency and automation. The way we managed to transform the internal activity of the leading company in restructuring and insolvency is spectacular, with beneficial effects both on the company and its partners, as well as on the employees. Our proposed tools help specialists to significantly reduce the time spent on routine activities and focus on more complex operations that bring added value to the company. We have shown, once again, that we are able to offer organizations and employees a digital experience adapted to their future requirements and needs, which helps them to be more efficient, differentiate themselves and maintain their long-term competitiveness”, said Răzvan Ogrezeanu, Innovation Manager & Co-Founder, Encorsa.
The low-code solution implemented by Encorsa for digitization, automation and process management, the WEBCON BPS platform, gave CITR the opportunity to optimize almost 170 processes and create digital flows tailored to operational needs. Through the platform’s Instant Change technology, which allows the modification of applications in real time, including existing and running workflow instances, the application development process was made in an agile, fast and efficient way.
“The complexity of the projects in which we have mandates, whether as judicial administrators, liquidators, or consultants, and the very large volume of operations that we perform daily were the main reasons for the accelerated digitization of CITR. Our involvement in complex projects, with large volumes of documents, amplified the need for an efficient technological solution, which would facilitate the rapid management of processes and the reduction of working time allocated to redundant operations. We are happy that Encorsa proposed such a solution, with very relevant results in recent years”, said Dragoş Ghiţă, Senior Insolvency Practitioner & Head of Digital, CITR.
The first digitized processes within the CITR company were part of the registry, considering the urgent need to streamline the processing of a large volume of documents. The company currently manages thousands of documents in managed projects. For example, only in the case of a bankruptcy in the insurance industry, there were more than 75,000 recipients, who had to be notified about the opening of the bankruptcy and information about the possibility of filing a debt statement, respectively information about the validity of the RCA or insurance policy.
After digitization, the new applications in the registry flow were adopted and used by CITR employees in less than a week. An important factor that contributed to the rapid adoption was that employees from all teams in the organization were constantly involved in the development process. Currently, CITR’s digital transformation project is in an optimization and development stage. Thus, after the implementation of the registration processes, processes such as: the management of the creditors’ table, the inventory and assessment of assets, the gathering of creditors and supporting processes such as the settlement process were digitized and put into production.
Encorsa has more than 5 years of consulting experience in the field and is specialized in using technologies such as low-code and no-code, AI, RPA, Chatbots and Business Process Management (BPM) to provide solutions to companies that want to adapt to a very dynamic and powerful market. The company has successfully implemented over 50 complex digital transformation projects in organizations such as Electrica Furnizare, Green Group, National Employment Agency (ANOFM), BCR Life Insurance, REWE Group, Suceava County Hospital, Romanian Post.
CITR is part of Impetum Group, the Romanian group dedicated to the mission of maximizing business value at any stage of a company’s life. CITR shares its resources with ROCA Investments, ROCA X and AGISTA to create a hub that brings together: specific business knowledge for each of the 3 stages in a company’s life, capital, synergies and crosses between complementary businesses, as well as a community of managers and entrepreneurs willing to actively participate in strengthening the entrepreneurial culture in Romania.
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