The FinTech startup troy develops a debt collection solution for SAP clients in the SAP.iO accelerator program
Lippstadt/Hamburg, 17 December 2019 – The FinTech startup troy, which specializes in customer-friendly debt collection, has developed a solution for the integration of its debt collection services into the finance module of SAP, the market leader in business software. The integration allows SAP clients to integrate troy as a debt collection partner with minimal effort. With troy, they can significantly reduce their debt defaults and optimize the customer experience for customers who owe money. The SAP integration also offers clients transparency in the debt collection process, as well as real-time management of internal and external processes.
The collaboration between troy and SAP was possible because troy – as one of the six European FinTechs in SAP.iO, the SAP startup initiative – was selected for participation in the accelerator program for FinTechs that launched in October 2019. Over a period of ten weeks, the six startups worked with SAP.iO on integrating their innovative financial solutions into the SAP solutions. troy revealed the results of the collaboration at the “Demo Day” on the stage of TechCrunch Disrupt Berlin on 12 December.
Philip Rürup, Founder and Managing Director of troy said: “Together with SAP.iO, we are bringing debt collection into the age of customer experience. During the accelerator program we were able to seamlessly integrate the troy platform into the SAP finance module in order to offer SAP customers fast onboarding and full transparency in our debt collection processes. As a result, SAP clients can expect to significantly reduce their debt defaults with very little effort, and keep valuable customers at the same time.”
New debt collection solution by troy focuses on customer satisfaction
While in the past, collaborations with debt collection service provides were often a “black box” for clients, troy now provides full transparency for the finance managers at client companies. Financial officers can, in real time, see the current process status, the communication flow with each individual customer, and when payments take place. As a result, goods or services can be provided again much sooner to customers who were blocked from placing new orders until they have made payment. At the same time, the finance processes also thereby fulfil the high customer experience expectations that have, until now, only been present in the companies’ sales and CRM processes.
About SAP.iO and the FinTech accelerator program
The eleven-week accelerator program organized by SAP.iO for FinTech (financial technology) companies kicked off in October 2019. The participating startups specialize in finance, governance, risk and compliance (GRC). SAP.iO pursues the aim of easing the increasing demands on companies resulting from the growing complexity of regulatory frameworks and laws through additional innovations by startups. The aim is to improve the customer experience in finance processes, optimize risk management, and improve efficiency within companies.
troy is a FinTech company that specializes in customer-friendly digital debt collection. The startup optimizes the customer experience in debt collection and thus maintains the customer relationship, using tools and methods from marketing and CRM combined with data and machine learning. troy was founded in 2017 by Philip Rürup and Till Völzke in Lippstadt and currently has locations in Lippstadt and Hamburg. Key client industries are telecommunications, utilities, the publishing industry and multi-channel commerce. The seed financing round with a small seven-digit amount took place in May 2018 with the HTGF and business angels from the FinTech industry as key investors. With the second financing round in October 2019, four new investors have joined, raising a medium-sized seven-digit amount.
Philip Rürup, Founder and Managing Director, troy gmbh
T: +49 172 16 00 437