Creating Analytic Power for Strategic Decisions
Collections and Recovery
The Collections process is no longer about calling everyone you can as often as you can. Knowing who to call and when to call them can lead to a much higher contact rate and substantial cost savings. Teled Analytic Solutions has developed likelihood to roll models, and along with predictive models to determine the best time to call, can be used to optimize right party contacts. This leads to much higher contact rates and increased operational efficiency.
Once beyond the Collections Process, knowing who is most likely to make a payment after Chargeoff can help determine which accounts to keep in-house and which you may want to sell, possibly helping with the determination of a price. A Recovery score will also help with creating a call schedule for in-house accounts, as knowing who is most likely to make a payment could lead to queuing by caller experience and expected amount recovered.