The debt collection industry has grown significantly over the past decade. Several major challenges have accompanied this growth, perhaps the two most significant being greater competition and increased regulation.
The high number of entrants—into what is already a fragmented industry—has increased the importance of maximizing collection activity efficiency. Meanwhile, keeping pace with increasing and ever-changing consumer protection regulations has resulted in higher compliance costs and risks.
Experian's Global Consulting Practice helps businesses address these and other challenges prevalent in the collections industry. By combining our deep understanding of credit risk with third-party data sources and technology, we work closely with our clients to synthesize and deliver optimal collection strategies.
An in-depth review of agency management processes is executed through a proven methodology that leverages global best practices and a deep understanding of the collections life cycle. The review is focused on the post write-off recovery processes, including:
Experian's debt collection consultants will develop a tactical plan and strategic road map to reduce bad debt and increase recovery rates while improving customer service. Recommendations are based on a situational analysis of your company’s systems, strategies and capabilities. Our collections portfolio review helps businesses:
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