Eight Steps to Collection and Recovery Excellence

If you're in the collection and recovery industry (C&R) and have a mature infrastructure in place, understanding the limitations associated with traditional debt collection and practices is key to your success. Applying new technologies to best-practice processing can transform your performance. It's that simple.

This paper examines eight practices that help organizations not only turn C&R into a more successful and compliant activity, but also gain a significant competitive advantage.

1. Reduce operational negation

2. Plan and execute precision-based strategies

3. Apply effort where it secures the greatest reward

4. Optimize channels

5. Make headcount count

6. Take a fresh look at repayment solutions

7. Improve agent negotiation skills

8. Align management information with operational goals