# Premium Credit enables rich customer communications management with OpenText
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-07-08
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: Increase Control and Cut Costs with OpenTextExstream
Meta Description: OpenText Exstream helps cut management costs by 45% while allowing businesses to have greater control over customer communications. Learn more!
URL: https://financedigest.com/premium-credit-enables-rich-customer-communications-management-with-opentexthtml

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_OpenTextExstream delivers increased control and flexibility and cuts management costs by 45%_

OpenText™ (NASDAQ: OTEX, TSX: OTEX), the global leader in [Enterprise Information Management (EIM)](http://www.opentext.com/what-we-do/enterprise-information-management), today announced that Premium Credit Limited, the number one premium finance company in the UK and Ireland, is using OpenText to bring control, agility and cost reductions to its customer communications. Using OpenTextTMExstream, the company has increased control and flexibility over its customer communications and has cut management costs by 45%.

Premium Credit offers finance to businesses and individuals to pay for their insurance, spreading the costs over regular repayments, rather than paying the whole premium up front. Its work requires it to communicate with its 2.4 [million customers](https://www.financedigest.com/crypto-broker-genesis-owes-geminis-customers-900-million-ft.html "Crypto broker Genesis owes Gemini’s customers 0 million – FT") in an effective and timely manner, while adhering to the regulatory requirements of its industry. The [company was working with an outsourced provider to fulfil the printing of customer agreements](https://www.financedigest.com/french-unions-unanimously-sign-wage-agreement-with-edf-company-says.html "French unions unanimously sign wage agreement with EDF, company says"), statutory notices, and customer defaults but faced huge costs in maintaining the required document templates, and found that it could take weeks to process even minor changes. The [company needed a more agile and lower-cost solution to operate effectively in their regulated environment](https://www.financedigest.com/eu-plans-for-company-human-rights-environment-checks-face-new-hurdle.html "EU plans for company human rights, environment checks face new hurdle").

“We looked at a number of leading solutions to improve the [operational aspects of our customer communications and to overcome the cost and time](https://www.financedigest.com/just-in-time-jit-and-lean-accounting-streamlining-operations-and-reducing-waste.html "Just-in-time (JIT) and lean accounting: streamlining operations and reducing waste") issues we were facing,” said Phil Rees, multichannel platform leader at Premium Credit. “OpenTextExstream came out on top, and was a clear leader in areas such as document composition and hosting options, and had a better pedigree, with countless blue-chip reference clients.”

“Fortunately, our print provider also used Exstream, and so, with the help of OpenText, we were able to bring our communication templates back in house, without having to recreate the template [data from scratch in a new system](https://www.financedigest.com/interoperability-of-data-to-accelerate-the-whole-slide-imaging-systems-market.html "Interoperability of data to accelerate the Whole Slide Imaging Systems Market"). This has allowed us to significantly reduce the delays and costs that we had endured when the process was externally managed.”

OpenTextExstream has reduced the cost of template maintenance by 45% and given Premium Credit the ability to make required changes themselves, rather than relying on their outsourced provider, cutting the change time from weeks down to less than an hour in some instances. This flexibility has enabled the company to add [marketing messages](https://www.financedigest.com/premium-a2p-and-p2a-messaging-market-surpass-revenues-worth-us-75-bn-in-2029.html "Premium A2P and P2A Messaging Market surpass revenues worth US$ 75 Bn in 2029") to its communications, something which they were unable to do previously. As Premium Credit [continues to drive](https://www.financedigest.com/british-army-to-start-driving-tankers-as-queues-for-fuel-continue.html "British army to start driving tankers as queues for fuel continue") down costs and reduce its reliance on print communications, it is investigating other communication channels with OpenTextExstream, such as SMS.

“Providing outstanding customer service is central to the service we provide,” said Rees. “By making more of our communications digital and real-time, customers benefit from more personal communication, delivered in a timely fashion through their preferred channels.”

[OpenTextExstream](https://www.opentext.com/what-we-do/products/customer-experience-management/customer-communications-management/opentext-exstream) is a multichannel customer communication management (CCM) solution that helps organisations improve customer experience with relevant, meaningful communications delivered through the customer’s preferred channel including web, email, print and SMS.


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