TINTON FALLS, NJ – PredictiveMetrics™ a leading knowledge-based scoring company, successfully launched RecoveryScore™, statistical model for recovering outstanding debt, at Thomson Media?s 12th Annual Credit Card Collections Conference. RecoveryScore was well received by attendees of the conference with its distinct feature of predicting two outcomes: probability of payment and dollars to be collected from each account, optimizing dollars collected. Attendees also liked the idea of an industry specific model that leverages data provided by creditors to drive RecoveryScore performance up and costs down.
?With margins smaller and recoveries harder, there was a need for a tool designed specifically for the bad debt industry to ?get the last squeeze out of the lemons? for prioritizing collections,? stated Michael Banasiak, president of PredictiveMetrics, Inc. ?Collectors can use RecoveryScore to cost-effectively allocate scarce collection resources. They can set their collection strategy to maximize liquidations and control costs based on PredictiveMetrics? analytics.?
PredictiveMetrics developed RecoveryScore by using payment behavior for charged-off bad debt. The predictive power of the model is derived from advanced statistical techniques applied to over 500,000 observations combined with external predictive information, supplied by PredictiveMetrics.
Many companies intrigued by RecoveryScore and creating greater resource efficiency and effectiveness, expressed an interest in having PredictiveMetrics conduct a free retrospective analysis to prove how well the model works on their own portfolio.
The model scores and reports are straightforward and easily accessible via the Internet. File transfer typically occurs through encrypted FTP Internet exchange, minimizing IT resources. RecoveryScore helps you focus your collection efforts, effortlessly, on the right accounts. RecoveryScore joins a suite of PredictiveMetrics? other collection scoring products including UtilityScore™ and DebtBuyerScore™.
About PredictiveMetrics
PredictiveMetrics, formerly Predictive Business Decision Systems (PBDS), continuously helps its customers increase efficiency as well as their profit margins by providing custom, industry specific, and pooled statistical scoring tools for credit, portfolio management, collection, and recovery. Utilizing advanced methodologies and statistics to application, accounts receivable, and collection data, as well as credit bureau, financial statement, and demographic data allows our customers to turn probabilities into profits. Armed with experts in the field of developing predictive scoring solutions for a variety of applications, types of financing, and industries allied with its consultative approach, PredictiveMetrics provides the most accurate and predictive decision tools in the market today! Established in 1995, PredictiveMetrics is headquartered in Tinton Falls, NJ.For more information about PredictiveMetrics, visit the company’s web site at www.predictivemetrics.com. For more information about RecoveryScore, visit www.recoveryscore.com.
