How do you determine what the best limit is to offer to each customer? Offering too much can impact on bad debt levels, whilst too little can impact on revenue and spend. In reality, unless every possible decision is known, how can your organisation be sure the best strategy has been implemented?
We’ve helped lenders improve their lending strategies; one customer, who remains anonymous, saw a 15% increase in projected profit within two years, a reduction in bad debt by 7% and spend income increased by 11%. All of this, whilst maintaining take up rates of customers. This is just one example. Could you be the next?
What if the strategy of balancing each of these deciding factors were managed for you? Limit management is a strategy based solution that uses a decision calculus to define the right limit, for the right customer, at the right time. What’s more, its hassle free! Its clever solution helps organisations rapidly deploy newly optimised strategy trees within the existing business with no integration effort. How? In four simple stages – define, develop (the strategy), deploy and monitor.
Our infographic provides a visual resource, showing the process of mixing components and balancing profit vs. risk.
Alternatively, our newly developed podcast explains through an interview with Experian’s Optimisation Consultant – David Percy, how making valuable decisions can support your risk and operational objectives such as increased profit, bad debt and exposure.
If you’re after more detail, the limit management fact sheet summarises for you how connecting strategic business goals with each and every decision can be optimised.
Why not get in touch and see how we can help you enhance your lending strategy and optimise your decisions quickly and effectively? Contact me for more information