Treat customers fairly and use advanced technology for the best results
Τreating customers fairly, by offering solutions and repayment plans that better suit their circumstances, increases the likelihood of securing collection.
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Not only can the right platform bring rapid improvement in profitability through enhanced productivity and collections results, but also longer-term benefits that are more difficult to quantify.
Advanced technology reduces compliance and operational risks by eliminating the errors that typically arise from fragmented data and manual processes. At the same time, such technology enables firms to consider customers’ individual circumstances and subsequently treat them more fairly.
In other words, sophisticated systems better align the interests of creditors and customers, bringing significant improvements in rehabilitation and other long-term rewards for both parties.
In this Debt Portfolio Blueprint, we take a look at how you can build an ethical credit rehabilitation approach to:
- Reduce compliance and operational risks.
- Improve collection results throughout the entire debt lifecycle.
- Personalise collections processes.
- Increase visibility of customer’s financial situations.
