The business challenge
In competitive markets, where acquisition costs and consumer demands are increasing, organisations are recognising the need for effective customer retention. The collections & recoveries activities are a balance between managing risk and bad debt with the need for customer rehabilitation and retention.
Delinquent customers can significantly impact profitability, as a result of increased provisioning, bad debt write-off and the increasing costs of collections activity. Achieving a complete view of a customer’s indebtedness enables early identification of those at risk and the deployment of dynamic, relevant collections activities.
The answer
Organisations can minimise bad debt and rehabilitate customers rapidly for the future profitability of the organisation.Experian’s collections & recoveries proposition is based on the need to automate and streamline the collections process to collect more debt from more customers.
It enables organisations to minimise bad debt and rehabilitate customers rapidly, to reduce attrition and maintain revenue streams for the future profitability of the organisation.
Testimonial
“Customer service is our key differentiator. This means that when our collectors contact customers in arrears they need to maintain and build the existing relationship. By giving us a complete view of individual customers, the solution enables us to make smarter, more relevant decisions – and stay ahead of any problems that might arise.”
Operations Manager, Bank of Queensland
Tallyman ROI Calculator »