Collections Optimization and Prioritization Services
Establish a more focused, data-driven debt collection strategy to reduce costs, save time and maximize resources.
Optimize your strategy and performance
Automated debt collection software and advanced analytics can help you create a customer-focused, personalized strategy to improve recovery rates and implement more efficient processes. By incorporating our robust data sources, you can gain a more comprehensive customer view and obtain further insight into creditworthiness and behavioral and contact channel preferences.
Prioritize based on propensity and ability to pay
Our advanced scoring and segmentation tools arm you with complete portfolio intelligence, enabling you to effectively and proactively manage your accounts. With modernized collections prioritization strategies, you can more accurately predict default and propensity to pay, determine the best next action and prioritize your collections activities with confidence.
Reduce costs
With innovative collections prioritization strategies and a holistic view of debtors, you can make better decisions and recover dollars more effectively and efficiently. This in turn improves collections optimization, lowers operational costs and boosts portfolio performance.
Develop positive relationships
Having further insight into your customers’ payment behaviors and preferences allows you to individualize and enhance the collections experience. With up-to-date contact information, you can locate elusive debtors, make connections and collect unpaid debt.
Remain compliant
Faced with mounting regulatory pressures and rules, our collections optimization services ensure that your debt management strategies are fair and compliant with regulations and policies and that you can verify and safeguard personal information.
Frequently asked questions
Debt collections automation consists of artificial intelligence tools and automated debt collections software solutions that customers and organizations can leverage and implement in their daily operations. When mundane and repetitive tasks are automated, debt collectors and agencies can optimize their workload and spend more time on value-added tasks.
Deeper insights into consumers’ financial situations and preferences allow you to avoid wasting resources and making contact when consumers are unable to pay. Instead, monitoring and following up with their preferred contact method can be a more successful approach — and a better experience for consumers.
When implemented well, collections optimization and automation can ease pressure from call center agents and help improve recovery rates while minimizing the risk of human error and the corresponding liability. These same systems can increase long-term customer satisfaction and lifetime value.
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