Collections & Recoveries Briefing Papers
Complementing our range of White Papers, we have a selection of shorter Briefing Papers focusing on a range of collections & recoveries issues.
Please see below for the range of Briefing Papers available for download via our secure system. If you do not have an account set up with us already, you will be provided with the option to do so.
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Current Briefing Papers
The importance of a good collector interface to improve business performance
As the recession takes hold collections departments are finding that they are busier than ever as they compete to collect from customers who are indebted across a number of products with multiple lenders. The collections departments that are successful at collecting in this challenging environment are those with the staff who are motivated, empowered and equipped with modern collections systems which are intuitive and optimised for the most efficient use.
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How to streamline a debt portfolio to maximise the gain from a successful asset sale
As the recession continues to bite, it has become increasingly important for businesses to improve cash flow and reduce balance sheet liabilities. A strategy which can accomplish this goal is the selling of debt to a third party for collection, which seeks to gain value from debts which might otherwise be written off. Managing the process strategically enables in-house resources to focus on performing debts and reduces capital adequacy requirements on the balance sheet.
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Realising the benefits of a new generation of collections system
The surge in consumer debt and delinquency levels across the financial, utility and telecommunication sectors has highlighted the urgent need for sophisticated collections technology that will automate and significantly improve the collections and recoveries process.
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Guidance on the use of Experian UK credit bureau data to aid collections activity
The use of personal data can be a sensitive issue, especially if the consumer is experiencing difficulties. On occasion, consumers may be surprised that lenders are able to access such data in their discussions. Equally, lenders may be uncertain about the way in which the data can be used, particularly in the case of CAIS data which is controlled under the Principles of Reciprocity, and the messages that may be given to customers about its use. The purpose of this paper is to offer guidance on some of the issues related to these questions.
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Using digital communications to competitive advantage in collections
A key challenge facing debt collection departments is contacting the right person at the right time and ensuring that the most appropriate collections strategy is being used for each individual. Many indebted customers can be difficult to reach, typically avoiding collections calls, and businesses are increasingly aware of the cost involved in getting through to wrong parties, no answers, busy lines and answering machines. Successful collections departments are finding that enabling customers to access and repay their debts without liaising with a human collector is a successful strategy and, as such, there is growing interest towards the use of digital communications in customer collections.
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Briefing Paper »
How to motivate your collections team with incentives that work
Put yourself in the shoes of one of your collections
team. The year ahead is challenging. Their workload is
increasing as the country sinks deeper into recession
and consumer debt escalates, and they are working
tiring, stressful shifts talking to people who don't want
to talk about their debts.So, what kind of incentives can improve your
collections performance at the same time as creating a
well motivated and productive team?
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Briefing Paper »
UK Collections Landscape Report
This report details new research into the amount of bad debt that could be recovered through collections best practice, and the types of UK consumers getting into serious financial trouble in the current economic downturn. In addition, the report provides an overview into the market trends affecting collections organisations as well as a number of best practice collections techniques that will drive collections performance.
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Briefing Paper »
The benefits of a dedicated Collections system
The scale and speed at which the recession has taken grip is unprecedented. As the volume of delinquent accounts escalates and the severity of arrears intensifies, executive teams are grappling with cash flow and debts are mounting, leading to rising capital adequacy requirements at a time when capital is very expensive. In an attempt to stem the tide of losses, collections managers have, at last, been given the budget and mandate to implement the technology that will automate and improve the default management process - and to do it quickly.
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Briefing Paper »
Best Practice Guide to Information Quality in the Consumer Collection Environment
To run an effective collection operation there are a number of key components that every business has to consider, from customer acquisition to effective risk based strategies, agile workflow deployed through leading collection systems, to focused and effective staff operating professionally. One aspect that runs throughout the customer lifecycle and is critical to effective collections is the quality of information held at a customer level.
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Briefing Paper »
The Impact of the Effective use of Tone of Voice in Collection Letters
The way in which you communicate with your debtors really does impact the effectiveness of your collections operation. At the heart of any collections operation is the quality of the correspondence and, in particular, the tone of voice adopted with the debtor. In short, what you say is important, but how you say it has a critical impact on its effectiveness. To help guide best practice in this area and provide areas for consideration when designing and implementing customer letters within a collections strategy, Experian commissioned a programme of qualitative research to explore how consumers react to the words used to communicate with them about their debt.
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Briefing Paper »
Identifying the optimum collections strategy through the use of Champion Challenger analytical tools
The economic downturn has highlighted that, after 15 years of a static and a fairly forgiving collections environment, there are now significantly increased pressures on consumers and their ability to meet repayments on credit commitments. This paper demonstrates the use of champion/challenger analysis as a means to continuously improve collections performance in this rapidly changing and challenging environment.
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Briefing Paper »
The CEO’s Guide to Collections
For the first time in a generation, CEOs of consumer lending organisations are having to take debt management and collections seriously. Following the news of bank after bank being bailed out comes the prospect of an economic downturn, which will create a second wave of write downs in consumer lending portfolios. Find out what steps CEOs can take to deal with and manage their collections portfolio.
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Briefing Paper »
Early collections outsourcing - An innovative approach to debt management in challenging market conditions
As we start to enter an economic downturn, the future looks bleak for lenders and consumer credit grantors. The latest Tallyman briefing paper investigates how outsourcing some of the early stage collections can significantly enhance the performance of the collections department and identifies the 5 key factors to consider before employing this strategy.
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Briefing Paper »
Mortgage arrears in the current climate: To seize or not to seize?
The rate of UK economic decline may be slowing down but the challenges for mortgage providers, and their collections teams in particular, continue to mount. The introduction of a raft of new government schemes, that seem to vary at both the regional and local council level, have left many grappling to determine customer eligibility.
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Briefing Paper »
What does the new Banking Code mean for collections professionals?
Just as the knock on effects of the US sub-prime crisis begin to hit UK lenders, provisions in the new Banking Code require banks to make a pledge towards treating customers fairly; responsible lending; and doing more to help customers in debt.
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Briefing Paper »
Accelerating collections ROI: An agile approach to implementing a new collections system
Credit managers who have been struggling to implement best practice collections processes in the face of the credit crunch, using out of date, inadequate systems, must act now to implement best of breed collections systems which can handle the large numbers of delinquencies quickly, efficiently, and at the lowest cost. Considering an agile approach to system implementation results in a faster return on investment and a faster time to value.
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Surviving the credit crunch: 7 key strategies to maximise collections effectiveness
The knock-on effects of last year’s US sub prime crisis are now directly impacting collections operations as massive debt write downs precipitate a significant tightening of credit markets worldwide.
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Briefing Paper »
Customer level collections in the water industry
Companies who put their customers firmly at the centre of their debt recovery strategy achieve enhanced collections performance. By leveraging data to develop a deeper understanding of the customer, the Collections Manager can quickly identify the can't pays from the won't pays and implement collections strategies matched to each customer's ability to pay.
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Briefing Paper »
Revenue management strategies in the new consumer credit markets
Rapid and, in many cases, unrestrained growth in new consumer credit markets has left lenders facing tougher debt management challenges than their counterparts in more developed credit markets. This briefing paper explores how organisations can combine flexible and automated collection systems with new communication and payment technologies to reduce their levels of monies in arrears, whilst dramatically reducing the cost to collect.
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The psychology of debt
Collecting delinquent debt is fairly well understood as a business process, but little is known about the psychology of indebtedness. Can a greater understanding help improve collections?
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Briefing Paper »
How to measure Return On Investment
This paper examines the return on investment that can be achieved by implementing a specialist revenue management and collections system.
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Briefing Paper »
Debt collection agencies - The key to improved recoveries?
Credit lenders exploiting the use of DCAs to manage a proportion of their collections portfolio report dramatically improved collection and recovery rates and increased efficiency. This white paper explores the advantages, the disadvantages and the system requirements necessary to implement such a strategy.
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Briefing Paper »
Applying the principles of business intelligence to improve collections performance
Deploying Business Intelligence tools within collections can result in significantly enhanced performance, with more revenue collected at a reduced cost.
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Briefing Paper »
The impact of Sarbanes-Oxley on the collections process
This paper reviews how the use of an automated debt management system can help users meet the key requirements of the Sarbanes-Oxley legislation by providing confidence and consistency in calculating accounts receivables values and bad debt reserves.
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Briefing Paper »
The role of collections in identifying personal insolvency
This paper explores how collections professionals can use the data within the collections system to apply profiling and segmentation techniques for early identification of individuals at risk of declaring personal insolvency.
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Briefing Paper »
Improving Basel II credit risk ratings
This paper looks at Basel II credit risk measurement and explores how an effective collections process can contribute to improved risk ratings.
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Briefing Paper »
The value of implementing scoring in collections
Credit scoring has long been used in assessing a customer's credit worthiness on application for credit, but the benefits are significant when implemented throughout the entire credit and collections cycle.
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Briefing Paper »
Implementing a customer centric collections environment
The paper looks at the challenges, benefits, and potential pitfalls of implementing a customer centric model.
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Briefing Paper »
Trends in telecoms revenue assurance
This paper examines the causes behind the $26 billion written off annually by mobile operators and the current revenue management situation with the telco industry.
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Briefing Paper »
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Decision Analytics White Papers
See our list of White Papers here.