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Discover how consulting services can help your organization strengthen your credit risk management strategies and processes, across the customer life cycle.
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Insight and action: An updated guide to help utility companies optimize their collections strategies
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Client testimonial
"I like the innovation of Experian trying to help the client get to the next level, partnering and participating in the objective of the client."
- Head of Credit and Debt Management, Utility provider
Business Review of Collections Portfolio
Face the industry's toughest challenges head on
Experian’s global consulting practice offers lenders and utility providers a proven methodology for adopting an integrated approach to optimally leverage their data insights and processes to provide a more comprehensive view of their customers’ characteristics, and transform this information into actionable strategies that help:
- Reduce bad debt
- Increase recovery rates
- Improve the overall customer experience
Our business consultants will develop a tactical plan and strategic roadmap, which are supported by pertinent ROI models that will maximize the performance of short- and long- term opportunities associated with the following key credit risk collections processes:
- Pre-final bill collections
- Terminations / field services
- Post-final bill collections
- Recoveries and post charge-off
An achieveable, action-driven plan
Experians’ portfolio business review looks at the situational analysis of your company’s current capabilities, systems, strategies, tools and benchmarking. From this analysis, Experian develops a report of findings and a recommended action plan for achieving quick win opportunities, long-term initiatives and strategic projects. The recommended action plan is further prioritized into a phased approach that migrates your processes into a best practice environment. Quantifiable business benefits for the proposed initiatives are clearly defined and accompanied by tactical objectives that lay the foundation for accomplishing an achievable long-term business strategy.
Benefits
The collections portfolio health check helps clients to:
- Extract the full value of customer data and move toward a targeted approach
- Look for early signs of financial stress and apply the appropriate controls to prevent early delinquency
- Decrease write-offs and reduce day-sales outstanding
- Manage agency performance
- Make it easier for customers to pay according to preference
- Reduce operational expense through automation of key processes
- Leverage key MI to increase performance gains