Improving Recovery Performance Across The Collections Enterprise
In 2017, one of the most popular articles to hit the web was the Economist's 'The world's most valuable resource is no longer oil, but data'. It's view that data is the new driver of growth and change in this new millennium went viral, but it failed to point out that data is only as good as the insights taken from it.
Crude oil is thick, sticky stuff that until is refined, is largely useless. Data is the same, until it is structured, analysed and used to answer a key question it is just noise. In a recent keynote I gave on behalf of Bierens and Altares I talked about this very topic, that more data was created this year than in the last 5,000 years. What surprised many was that only 0,5% was actually analysed.
Regardless of the industry, companies are collecting more data than ever before but more often or not, are unable to use it effectively to drive value and growth. For the organisations getting it right, they have implemented tools and technologies that are effective in organising, managing and analysing their data. The result? According to Forrester, insight-driven companies are growing at a rate of 30% annually*
Our mission at CollectIC is to help our customers improve their recovery rates by leveraging data and insights. Working with specialist forensic data collection techniques, we fill the gaps in missing debtor data that enables us to re-establish contact with missing debtors.
Unrecovered debt is usually due to poor data management from the start. To meet debtors' ever-evolving standards of convenience, we must be present and available when the debtors are. That means having the most up-to-date contact information as well as understanding which channel of communication they prefer.
Our platform which has been designed from the bottom up, focuses on improving recovery rates with a data-driven mindset. By having the right data from the start, you can establish contact with the consumer, via a channel they prefer and at the time that engages them quickly.
Want to know more about the many features of CollectIC or see a demo? Then contact us via the link below.
About Darren
I'm an innovation keynote speaker, trend-watcher and Co-Founder of DebtCo International and CollectIC.io. A former Managing Director of Dun & Bradstreet Benelux I am on a relentless mission to help people and business drive better and faster digital experiences.