Make money by helping your customers
We offer a range of services, including customer offers.
Yet fundamentally our service is that we use data to help you help your customers, leading to increased profit for you.
Collections
Modern Collections practices put the customer at the heart of the business.
Data, MI, BI and Analytics
IBM Estimate that incorrect data costs the US economy $3.1 Billion dollars a year. Data integrity is the first thing a company should look at. And it’s not hard! There are simple ways of dealing this and building the right governance, documentation, maintenance, checks and controls.
If Data Integrity isn’t the first thing to look at, it certainly isn’t the last… Decent analytics and MI should aim to tell a story – and that story should be focused on the customer, who is at the heart of the business.
Analysis, BI and MI should also link directly to the P&L – after all understanding the cost / benefits of a strategy or project is at the heart of a sustainable business
21st Century Collections and Recoveries
Even today collections practices vary wildly from industry to industry. However the very best practices put the customer at the heart of the collections strategy. Companies who collect in this way have a two step strategy:
- Get hold of the customer. This can be via telephone, digital channels or perhaps involve an element of trace.
- Negotiate a sustainable solution with the customer based on their affordability.
Whilst it’s true that the basic concept is so simple, there are many further ways of adding value in those two basic steps. There are also “plugins” which can add value beyond this (such as sale of debt).
Strategy Resolution can help with your collections and recoveries strategy. Whatever industry you are in we can help you with a customer based strategy that means better treatment for your customers and more recoveries, in the long term, for your business.
Outsourcing
Outsourcing a function still leaves you responsible for it in every way. It’s still your P&L, your customers and your portfolio. Under most circumstances a breach of regulations could still leave you, not just the outsourcer liable for fines and sanctions. Even indemnities won’t, at a practical level, provide full protection against this.
The most important part of outsourcing is control. Without control you have no strategy since you can’t know if it is being followed.
And control is founded on two pillars: the first is sample checks, be they called quality assurance or audits. The second pillar is data. MI and data over what the supplier is doing, wherever possible using records that are reconcilable.
Control also leads to better strategies, better outsourcing and better processes – it’s a natural corollary, since once you understand what is happening you will have better insights into how to improve it.