Overcoming the Challenges to Achieving Customer-Centric Collections

Overcoming the Challenges to Achieving Customer-Centric Collections

Published by: Research Desk Released: Feb 01, 2020

In recent years, many organizations have made strenuous attempts to implement consumer-centric collection, with a 360˚ view of a consumer’s assets and liabilities. A 360˚ view of the consumer, with agents having access to details of all of a consumer’s debt accounts, and maybe their accounts in good standing as well, can help the agent negotiate affordable repayment agreements with the consumer.

But having a 360˚ view is only the first piece of the puzzle.  A customer-centric approach requires a sophisticated strategy and process to define and codify rules to automatically assign an appropriate consumer-level treatment given the myriad permutations of a consumer’s accounts, such as varying product types, balances, stages of delinquency and so on.

Read our Executive Brief, “The Case for Case Management”

This brief provides an overview of a best-practice collection case management strategy that ensures that your organization delivers the right collection treatments at the right time, utilizing automation and your human resources to peak efficiency.