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collections assurance large

Collections Assurance

Allows utility organizations to monitor the efficiency of the customer credit scoring process, along with distinct collections and dunning strategies.

 

diagram utilities collections assuranceEfficient collection control requires auditing different areas and leveraging automated processes and predictive analytics to assure current and future business challenges are being met. Any efficient collections assurance tool should audit rules across the following main areas: credit scoring, in-house collections and external collections.

For Collections Assurance, RAID Utilities covers different areas and activities that must be performed to keep customer debt under control; predict and minimize future bad debt; maintain good customer interactions and avoid customer complaints or switching.

KEY AREAS COVERED
Give analysts a broader insight across the organization
  • Customer Credit and Scoring Accuracy
    Based in several scores the customer will be segmented according to their risk level. This information has an important role in the organization in order to mitigate the future default risk. Based in these scores the collections strategy can be much more accurate preventing customer bad debt occurrences in the future.
  • Customer Collections Accuracy
    Most partners and sales departments are just focuses in sales, increasing the number of services and subscribers, in some cases not following the company policies or conduct prior evaluation of the subscriber’s capacity to pay.
  • Debt Recovery Performance
    The collections process must be monitored to guarantee that each step is performed in the defined time window and that all processes have a beginning and an end, due also to regulatory directives the deadline to collect a customer may be limited in time, after which the company loses the judicial right to collect it. The lack of performance in collection process leads to additional revenue losses.
CHALLENGES ADDRESSED
Address industry-specific regulatory and compliance requirements
  • Is customer risk well defined?
  • How accurate is our collections strategy?
  • How efficient are our negotiation plans?
  • Who are the best DCA/Legal agencies?
  • What is the monthly recovery rate?
  • How is overdue debt distributed?
  • What is the monthly churn rate?
KEY RISKS AT A GLANCE
Since the product provides a holistic view of data across multiple business environments and applications, you will get the visibility you need to quickly understand the financial impact and risk of each alarm and quickly identify the root cause of each exception
  • System or Human Errors
  • Incorrect Customer Information
  • Processes or Systems Inefficiencies
  • Collections Team Inefficiencies
  • Debt Control Agency Interaction Inefficiency
  • Risk Analysis Errors
  • Abuse and Fraud

IDENTIFY THE BEST STRATEGY TO MINIMIZE THE BAD DEBT IMPACT

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RAID Utilities has a scoring model evaluation based in several scores the customer will be segmented according to their risk level. This information has an important role in the organization in order to mitigate the future default risk. Based in these scores the collections' strategy can be much more accurate preventing customer bad debt occurrences in the future.

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MEASURE THE EFFICIENCY OF YOUR COLLECTIONS STRATEGY

RAID Utilities allows utility organizations to monitor the efficiency of customer credit scoring process, along with distinct collections and dunning strategies, as well as measuring the performance of internal and external debt recovery agencies. Collections Management enables customers to predict and minimize future bad debt; maintain positive customer relationships and avoid complaints or switching.

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VALIDATING DEBT PACKAGING INFORMATION CONSISTENCY

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The collections process must be monitored to guarantee that each step is performed in the defined time window and that all processes have a beginning and an end, due also to regulatory directives the deadline to collect a customer may be limited in time, after which the company loses the judicial right to collect it. The lack of performance in collection process leads to additional revenue losses.

Download DatasheetRequest a Demo

LEARN MORE ABOUT COLLECTIONS ASSURANCE FOR UTILITIES

Overview

RAIDUtilities Cover datasheet
 

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