Global debt collection agency increases dues collection yield by 25%
THE PROBLEM
A global debt collections agency wanted to improve payout rate of overdue invoices for its stores in the US.
The client wanted to improve upon the existing dues collection rate (24%) through a renewed debtor contact strategy.
THE SOLUTION
We proposed an operational strategy of ranking each invoice across a debt prioritization matrix based on the outstanding invoice amount and probability of payout.
A proprietary self-learning, multi-modeling automatic predictive technology from FIndability.AI was used for obtaining probability of payout.
The ranking of invoices helped the client to target debtors effectively and improve the yield from collection activities.
THE SUCCESS
Yield of dues collection improved from 24% to 30% with an overall improvement by 25%
No incremental staffing cost was involved