Take a strategic approach to your collections by implementing sound strategies
A strong collections function can be the difference between good and excellent financial performance. By identifying opportunities to make your collections more effective, efficient and customer-oriented, you can add significant value to your business. TransUnion’s Collections Prioritisation Models provide a clear view of high, medium and low-priority prospects in your collections book, to help you achieve success within your collections department.
Collections models can be applied to prioritise collections in both consumer and commercial credit markets
This model uses data from various sources, as well as a scorecard, amongst other intelligence to provide a clear view of high, medium and low-priority prospects within your collections book. In addition, rich contact data is supplied to help you maximise collections effectiveness.
This model allows you to divide the collections book into cells of priority by considering the debtor’s past payment behaviour amongst other factors. For commercial entities that are currently overdue, this will help you achieve several key collections objectives.
Enhance your collections strategies
Improve customer service and retention for low-risk customers
Realise departmental efficiencies by making optimal use of limited resources
Maximise how data is used to drive collection decisions
Increase recovery rates
Effectively prioritise activities in the recovery process
Demonstrate and measure the value associated with each action taken