Maximise performance by selecting the most effective collections action for each customer.
Identifying the right communication for each customer and executing it at the correct time, via the best channel, with the right terms is a critical component of any collections strategy.
Selecting the optimal action for each customer is challenging, because the historical results of actions in a collections path may not be easy to isolate. The results of both individual actions and combinations of action must be understood.
Our solution enables the risk and collections teams to evaluate a host of potential strategies, simplifying the design and tuning of the live strategy. The deployment process is flexible, making it easy to implement within existing decisioning software or collections platforms.
Key Benefits
Optimisation is most effective in collections when some or all of the following statements are true:
- A choice can be made between communications channels
- There are many customers
- There is a restriction on how many times an action that can be taken (e.g. calling capacity)
- There is a measureable objective (e.g. maximise amount collected) and the impact of different actions on this objective can be predicted
How does it work?
Our optimisation solutions achieve performance improvements against traditional techniques by:
Considering every single combination of actions rather than adopting a traditional ranking or hierarchical approach
Understanding the trade-offs between the different actions (which are forced by constraints)
Choosing the best set of actions to fit within the constraints
Working at an individual customer level with no limit on the number of customers, constraints or actions that can be optimised
Contact us and discover how we can help your business thrive
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