CITR saved thousands of hours of repetitive work with the low-code automation solution implemented by Encorsa

Encorsa, a Romanian integrator of digital transformation services through low-code and no-code hyper-automation, RPA and AI technologies, has supported CITR, the leader of the Romanian insolvency and restructuring market, to digitalize and automate its business through an advanced WEBCON BPS low-code automation solution. CITR has thus digitalized around 170 internal processes in the last 3 years and saved tens of thousands of hours of repetitive work.

CITR has seen accelerated business growth in recent years, including the management of some of the most impactful insurance bankruptcies in Romania, and digitalization has supported the expansion of the client portfolio over the last three years. The solution implemented by Encorsa has helped streamline processes, optimize activity and maximize working time, eliminating repetitive and redundant activities.

“The project developed with CITR has given us the opportunity to show what we can do in terms of efficiency and automation. The way we have managed to transform the internal work of the leading restructuring and insolvency company is spectacular, with beneficial effects on both the company and its partners, as well as on employees. The tools we offer help specialists to significantly reduce the time spent on routine tasks and focus on more complex operations that add value to the company. We have shown, once again, that we are able to provide organizations and employees with a digital experience tailored to their future needs and requirements, which helps them to be more efficient, differentiate themselves and maintain their long-term competitiveness”, said Razvan Ogrezeanu, Innovation Manager & Co-Founder, Encorsa.

The low-code solution implemented by Encorsa for digitalization, automation and process management, the WEBCON BPS platform, has enabled CITR to optimize nearly 170 processes and create digital workflows tailored to operational needs. Through the platform’s Instant Change technology, which enables real-time application changes, including existing and running workflow instances, the application development process was made agile, fast and efficient.

“The complexity of the projects in which we have mandates either as receivers, liquidators, or consultants and the very high volume of operations we perform daily have been the main reasons for CITR’s accelerated digitization. Our involvement in complex projects with large volumes of documents has amplified the need for an efficient technological solution that facilitates the rapid management of processes and the reduction of time spent on redundant operations. We are pleased that Encorsa has proposed such a solution, with very relevant results in recent years”, said Dragos Ghita, Senior Insolvency Practitioner & Head of Digital, CITR.

The first processes to be digitalized within CITR were part of the registry, given 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, in one bankruptcy in the insurance industry alone there were over 75,000 recipients who needed to be notified of the opening of bankruptcy and information on the possibility of filing a claim, i.e. information on the validity of the MTPL or insurance policy.

After digitalization, the new applications in the registration workflow were adopted and used by CITR employees in less than a week. An important factor contributing 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 a phase of optimization and development. Thus, after the implementation of the registry processes, activities such as the management of the creditors’ table, the inventory and valuation of assets, the gathering of creditors and supporting processes such as the settlement process have been digitalized and streamlined.

Encorsa has more than 5 years of consulting experience in the field and specializes 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 strong market. The company has successfully implemented more than 50 complex digital transformation projects in organizations such as Electrica Furnizare, Green Group, National Agency for Employment (ANOFM), BCR Life Insurance, REWE Group, Suceava County Hospital, Romanian Post Office.

CITR is part of the Impetum Group, the Romanian group dedicated to the mission of maximizing business value at any stage of a company’s life. CITR pools its resources with ROCA Investments, ROCA X and AGISTA to create a hub that brings together: business knowledge specific to each of the 3 stages in the life of a company, capital, synergies and crosses between complementary businesses, and a community of managers and entrepreneurs willing to actively participate in strengthening the entrepreneurial culture in Romania. More details are available here.

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About Encorsa

ENCORSA is a digital transformation partner in Romania that helps companies thrive in an ever-changing business environment with sustainable solutions that bring together a mix of low-code technologies including: low-code Business Process Management platform – WEBCON BPS, RPA (Robot Process Automation) robots, IDP (Intelligent Document Processing) platforms and conversational technologies (AI chatbots).

About CITR

CITR has been the market leader in insolvency and restructuring in Romania since 2008. With over 22 years of experience in the market and approximately 1,100 projects managed over the years, CITR is on a mission to save value in impactful Romanian companies. CITR is an Impetum Group company, the first Romanian group dedicated to the mission of maximizing business value at any stage of a company’s life, with the goal of creating a positive impact in the economy.

About WEBCON

WEBCON is a leading European-based software provider that delivers an enterprise-grade low-code business process automation and management platform, helping companies around the world to work more efficiently and leverage the potential of digital transformation. The WEBCON BPS platform helps international organizations with workflow automation, document management, and digitalization of their business processes.