Improve collections performance
Processes, policies and management to increase collections completeness. We help organisations address poor collections rates with tactical and strategic change initiatives. We optimise strategies and increase collections performance, helping you accelerate cash flow and reduce bad debt.
We have significant experience in analysing, designing, and building accounts receivable collections strategies and supporting treatment paths across a range of industries. Our end-to-end solutions start from customer risk segmentation to tailored customer communications, handling payment plans and migration strategies. We work with you and your third-party providers to deliver the new strategies and ensure they are implemented smoothly with minimal disruption to your operation.
With a customer-centric mindset, we carefully consider your customer relationships when implementing collections and recovery solutions, ultimately benefiting your long term business prospects. Our commitment is not just about implementing collections solutions, but about supporting you with the knowledge and tools to make informed decisions.
Our approach involves equipping you with the skills and knowledge to deliver proven collections strategies. We analyse the finer details of collections systems, paths, policies, and processes to identify areas for enhancement, implementing improvements that drive efficient collections.
We create new and updated target operating models, serving as roadmaps for achieving your collections goals. This is supported with reporting, analytics, and insight, helping track progress, analyse data, and gain valuable insights that inform future strategies.
We offer strategies for streamlining debt collection agencies, ensuring your external partnerships are seamless and productive. Additionally, we provide debt agent training, with incentive structures to motivate and empower your collections team.
We have significant experience in a delivering improvement to accounts receivable collections functions through the use of several services, including:
Strategy management and policy creation
Debt Task Force to accelerate collections
Collections systems, paths and process improvements
Customer communications strategies
New and updated target operating models
Streamlining Debt Collection Agencies
Agent training, targets and incentives
Reporting, analytics and insight
reduced debt in 12 weeks
customer accounts migrated
debt reduction in first 3 months
A key factor for rising debt in utilities is the increase of bad debt provisioning. Suppliers must leverage their customer data to reduce and/or prevent such debt. It all starts with ensuring customer data is correct.
As the cost of living crisis in the UK continues to increase, utilities companies are under increasing pressure to identify and support their vulnerable customers. In doing so, they and their customer will benefit.