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Most of your customers will, at some point, miss a payment. But not all of these can be categorised as serious delinquent customers.
Having the ability to quickly establish can’t pay vs won’t pay, and having the operational efficiencies and strategies in place to focus resources appropriately, can dramatically reduce the cost of bad debt.
In addition to those customers who are experiencing financial difficulties it is important you have a view of the future risk of delinquency. Understanding who could experience financial difficulties in the short and long term can also add significant value within your decisioning and lending strategies from acquisition through to collections. The impact on a customers’ affordability can be seen from various factors, including economic changes.
Sound credit risk management underpins a business’ stability, growth and future profitability. With so many variables to balance, however, managing credit risk can be a challenge. Optimise your credit risk analysis with high quality data, systems and strategies to help to minimise risk while also creating new opportunities.
Whether you’re offering credit or trading with other businesses, we offer a range of credit risk solutions to optimise your profitability and reduce your credit risk throughout the entire customer lifecycle.