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Unravel
the collections strategies that cost you dear
April 2004
Windsor CME, the
specialist consumer credit industry consulting and training firm has
announced the introduction of a new system and service:
CollectMiner.
The new system is in response to the
wide spread problem that
Collections
strategies are rarely what the senior management think they are. This
means that there are redundant and ineffective strategies and sometimes
costly actions that could be removed or replaced.
David Crack, Associate Director of Windsor said "our
new service audits your system to find out what is really going on.
CollectMiner
plots and analyses the activities applied to your accounts in
Collections."
The
benefits of this new service are:
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Identification of when actions are causing
customer promises and payments
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Uncovering coding errors in strategies
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Identification of redundant strategies
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Exposure of conflicts between strategies and
the actions taken
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Identification of strategy and systems weaknesses
This innovative service uses new
software to help you deliver optimal performance from your Collections
function.
What's involved?
To unpick the interaction
between scorecard derived strategies and actual actions Windsor tend to look at the performance of
around 10,000 accounts.
Clients need to be able to supply:
- a definition of your collections strategy and
transaction codes
- account history data for those strategies
- account financial transaction history
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