Increase Effectiveness of Collection Teams
The Client Challenge
Company had high incidents of delayed payments and delinquency, with write-offs totaling over $900 million per year.
Only solution implemented was to increase collection efforts, which was very costly.
The Compellon Approach
Compellon 20|20 discovered key drivers of customers who will, may, or will not pay, and identified the most effective collection action for each group of customers.
Company now knows exactly which collection activity to apply for each customer in order to increase their likelihood to pay.
Applying the prescriptive actions recommended could save up to $7 million in costs without any reduction in collections.