Manage customers more effectively and efficiently
Debtor behaviour is changing, compliance requirements are demanding, and internal challenges, such as legacy IT systems and poor quality data, exist. You need to collect more debt, faster, and at a lower cost while satisfying regulators. It’s time for a more proactive approach.
Reduce costs and improve profitability
Experian’s Collections Management allows you to improve profitability by quickly controlling costs and maximising the value derived from your debt collections activities. It’s an easy-to-implement solution that uses intelligent, automated processes to streamline operations in a quick and cost-effective way. It means you can reduce costs and improve profitability, while also keeping your good customers happy, and meeting all the latest compliance and governance requirements.
How does it work?
This new, automated approach to collections reduces provisioning, improves efficiency and embraces new contact channels to reduce costs from all of your collections activities. Combining available data with sophisticated analytics, Experian Collections Management delivers a quick response to changing environmental conditions and customer behaviour, avoids complicated legacy systems, standardises policies, improves credit monitoring capabilities, and offers an increased focus on customer needs for true competitive advantage and faster return on investment.
This platform comprises four core pillars, which encompass a range of advanced strategic and operational tools. Each can be adopted as a hosted or in-house solution in just a matter of weeks.
The Collections Core Pillars
- Operational Collections - manage cases from pre-delinquency through early to mid-collections using automation where appropriate to improve efficiency
- Optimising Collections - improve overall performance by applying the ideal treatment strategy across customers, products and channels
- Strategic Collections –design powerful segmentation strategies to develop deeper customer insight and increase effectiveness of the collections process
- Advanced Analytics and consulting - leverage advanced analytics and scoring models to provide key insight for collections advantage. Access to powerful insight delivered by our expert team of credit risk and collections consultants with deep industry and subject matter expertise
With Experian’s Collections Management, you can
- Reduce costs through greater automation, better targeting and more effective use of third parties
- Improve cash-flow and minimise write-offs by applying data intelligence, segmentation and customer insight within treatment strategies
- Enhance customer experience and retention through fair and appropriate treatments consistent with customers’ individual circumstances
- Integrate new contact channels
- Maximise your competitive advantage to encourage customers to prioritise your payments and ensure your debts are cleared first
Collections Management: Maximise returns the easy way
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