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Experian’s Revenue Assurance FrameworkSM provides a combination of consultative services with cutting-edge collection optimization tools to assist government agencies at all levels of the debt management cycle.
The management and collection of debt is often a complicated process to which limited resources can be applied. The expertise required to optimize debt assets calls for a holistic evaluation of existing processes conducted by individuals with a unique background of topical expertise and real-life experience in such issues. The Experian Revenue Assurance Framework combines consultative expertise with a suite of premier collection tools to allow organizations to streamline collection optimization efforts and create increased revenue potential throughout all phases of the debt management cycle.
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 for your organization to optimize early- and late-stage collections strategies to maximize recovered dollars and monetize current debt assets. Experian® can assist you in creating a holistic collection strategy across your organization to improve efficiency, maximize recovered dollars and monetize current debt assets where appropriate.
Once a debt has been attempted through in-house government collection processes and outside third-party collectors, it is often held on balance sheets and accumulates year over year until written off. That stale debt can be evaluated for its potential to create immediate revenue through its sale. Experian offers consultative services and evaluation tools to assist government agencies in determining the viability of a stale assets sale, the potential market value of the asset and consultative services to assist in the overall debt sale process.
In order to assure the highest possible return, 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 for engagement; assure regulatory compliance and special handling of protected class debtors; and provide a holistic view of a consumer’s interactions with the municipality in order to take advantage of point of new service collection practices.
Experian’s identity and eligibility tools at the time of initial transaction can minimize future difficult- or impossible-to-collect actions that inevitably become accounts receivable. Leveraging Experian’s vast data resources, you can validate/standardize applicant data prior to system entry to ensure data accuracy and the ability to make contact in the future. In addition, identities can be authenticated to ensure only the appropriate persons are obtaining the benefits and are responsible for any outstanding monies owed.
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