Experian Optimization for Collections
Maximize Dollars Collected while Minimizing Collection Expenditures
In the current economic environment, implementing the most effective collection strategies is critical to ensure that your organization meets key business objectives. With risk exposure unstable and the volume of outstanding accounts escalating, it is more important than ever to optimize early- and late-stage collections strategies to maximize recovered dollars.
Optimization provides clear direction for collection strategies from early-to late- stage decisions by segmenting delinquent accounts to determine which accounts to collect, how and when to contact, and how to allocate resources to maximize collectable dollars. Our flexible delivery options allow for easy integration into your existing collections processes with a low cost of ownership. Using optimization, organizations can expect to:
- Minimize collection costs by identifying the most effective ways to allocate resources
- Increase collections effectiveness by assessing the cost versus benefit at the consumer level
- Increase total recovered dollars by optimizing early- to late- stage collection activities while determining the ideal contact method, all at the consumer level
- Identify the ideal account modification terms in real time
- Create holistic collection strategies across your organization to improve efficiency and maximize recovered dollars
- Incorporate client-defined goals, data inputs, metrics, constraints, and organizational data and/or requirements to ensure final strategies are aligned with performance objectives
Decision PointSM for collections provides optimized strategies for early to late stage collection decisions based on your organizational constraints and goals. Strategies are created by optimization experts and delivered quickly enabling you to respond to changing market conditions to increase the likelihood of recovery.
Marketswitch Optimization™ is debt collection management software that enables an organization to leverage an advanced mathematical algorithm to determine constraint-based decisions that deliver customized collection strategies to recover more dollars faster, or maximize accounts cured.
Increase Collectable Dollars
Experian’s industry-leading optimization tools for collections will improve internal collection practices by assessing each consumer at the account level to determine the best contact method, time and message to yield the highest possible return.
- Reduce costs by 18% or more
- Assess multiple collection treatments to maximize operational efficiencies and consider consumer preferences
Simplify Complex Decisions
Experian’s optimization technology enables your organization to quantify the impact of collection decisions on long-term revenue goals while considering the changes in consumer trends. Determining which accounts to apply term modifications versus which accounts to charge off will enable you to quantify the financial impact of all possible outcomes and make analytically derived decisions at the consumer level.
- Quickly identify the best consumer treatment to minimize internal resource costs
- Reduce risk and maximize dollars collected by contacting the consumer at the right time
- Maximize the productivity and performance of internal and external resources
- Identify and implement the most effective consumer level strategies to mitigate risk and preserve revenue
Gain More Control and Insight
Our patented technology helps you identify the optimal collection treatment based on an individual customer’s risk score and potential value, as well as your total dollars collected and cost containment goals and objectives.
- Experian’s proprietary mathematical algorithm provides a constraint-based approach to factor in real-world limitations and all possible decisions which helps organizations identify the ideal solution given your distinctive goals and constraints.
- Optimization provides precise collection action that can be taken at the consumer level to maximize collection activities and achieve short and long-term business organizational objectives.
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