01. The challenge
Modern debt collection methods are based on processes combining legal and arbitral measures. The efficacy of arbitral recovery is generally the determining factor impacting the success of companies operating in the debt collection industry. The right selection of debt collection methods is a crucial element of the arbitral recovery process. The cost and efficiency of a method are two main criteria debt collectors consider when deciding on which procedures to implement. Not entirely satisfied with the system in place, our client–Poland’s leading debt collection company–asked us to optimise their recovery process and results.
02. Our solution
Starting with a thorough investigation of our client’s existing procedures, we gained a better understanding of the nature of the problem. We prescribed a custom approach, built on a behavioural model–and then designed, developed, and implemented a new solution. The new system evaluates the data then sets outs case-specific steps an operator should take to maximise the odds of debt recovery within the assigned budget. Once the tool was implemented, we trained our client’s team, so they can make the most of the new functionalities and work on its further refinement and development.
After implementing the new solution, our client recorded an improvement in process efficiency of around 20%. This change boosted their debt recovery rates, translating into a substantial reduction of operational costs and increased revenue.
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