Understand the true debt figure of customers and inform prioritisation based on ability to pay and insolvency risk.
In order to create a robust collections process, we believe you must understand the relationship between all of your customers’ accounts. Experian can provide the insight so you can create a single customer view (SCV), whereby we identify the relationship between sites, companies and groups. By identifying the relationships, you can ensure that closed accounts are not being provisioned for where an associated live account exists – closed balances can be transferred to live clients, and a client’s full outstanding balance can be calculated.
Once a firm view of your customer’s balances are visible, we’ll help you to understand the profile of your debtor base to determine which scorecards and datasets are best suited to decide prioritisation. Through combining your internal payment history with Experian’s commercial scoring models, we can analyse debtor risk and segment into logical groups, aligned to the appropriate collections activity.
Experian’s collections solutions have helped organisations significantly reduce Bad Debt Charge levels, delivering 10 fold return on investment.