All posts by Jeff Bernstein
The way in which you communicate with your customers really does impact the effectiveness of your collections operation. At the heart of any collections...
2007 and 2008 saw a rapid change of consumer behaviors and it is no surprise to most collections professionals that the existing collections scoring...
Due to the recent economic events, increased collections workloads are straining client infrastructures and resources. Most clients in North America operate their delinquent accounts...
Our current collections management landscape is seeing unprecedented consumer debt burdens: Total consumer debt o/s is at $14 trillion as of Jan ’09 Revolving...
Understanding the Champion/Challenger testing strategy As the economic world continues to change, collection strategy testing becomes increasingly important. Champion/Challenger strategy testing is performed using...
In addition to behavioral models, collectionsmanagement and account management groups need the ability to implement strategies in order to effectively handle and process accounts,...
Behavioral scoring is one of the most important tools that allow collections managementand account management groups to evaluate accounts in an efficient and cost-effective...
Have you ever wondered how your current collections workflow process evolved to its current state? To start at the beginning, let’s rewind to medieval...
They have started to shift away from time-based collections managementactivities (the 30-, 60-, 90-day bucket approach). Instead, the focus is migrating towards the development...
Part four Improved change management process is one of the items at the very top of many collections professional’s wish list. In most legacy...
Part 3 Reducing operational and overhead costs starts with the automation of tasks that would otherwise be performed by a human resource. By leveraging...
Back during World War I, the concept of “triage” was first introduced to the battlefield. Faced with massive casualties and limited medical resources, a...
Part two Improved collector productivity and cash flow is the concept of doing more work with existing staff or doing the same amount of...
Part oneIn today’s collections environment, the challenges of meeting an organization’s financial objectives are more difficult than ever. Case volumes are higher, accounts are...