“Customers of ours are constantly looking to build and ship new capabilities and improve their existing capabilities,” Karkal said. “It’s about increasing the top line and reducing the bottom, so you increase revenue and reduce costs.”
Adding TrueAccord’s functionality will help reduce costs by reducing customers’ debt collection losses, he said.
“What it does is really optimize a back-end process, which in many cases is completely neglected. People don’t realize that when customers don’t pay you, that’s not the end of the story,” Karkal said. “You can actually send them to collections and you can get some of your money back and they won’t hate you for it.”
Mark Ravanesi, TrueAccord’s CEO, said in prepared remarks that his company’s “significant expertise” should greatly benefit Sila’s customers and consumers once the tech integration is complete.
Keeping it simple
The arrangement between both companies is an example of keeping technology integration simple.