The mission of every modern debt collection organization is simple: collect more money faster, at a lower cost and with improved consumer satisfaction. Balancing recovery performance while maximizing recovery amounts presents a myriad of challenges, however.
It can be difficult to navigate the complex web of dynamic consumer behavior and preferences; regulatory uncertainty at the Federal, state and municipal levels; rapidly changing client requirements; and the need for consumer-centric operations. An effective scoring strategy acts as a compass leading you to better predict which consumers in your debt portfolio have the highest likelihood and ability to pay.
Listen as Charlie Wise, Vice President of TransUnion’s Innovative Solutions Group; and Peter Ghiselli, Vice President of TransUnion’s Third Party Collections, division explain how recovery scores can help you:
* Prioritize inventory to enable smarter decisions throughout the workflow
* Align agent skill with the likelihood of recovery at an individual account level
* Optimize operational efficiency by increasing speed to recovery
* Intelligently allocate fixed and variable expenses