Optimal vs. Ordinary Collection Strategies
Optimization: One efficient response to the three biggest challenges facing collections
Pandemic-related economic and social conditions accelerated existing trends to the point of fundamentally changing the collection function. These changes are affecting how the best collection operations view their purpose, how they determine what actions to take, how they communicate and interact with consumers, and how their performance is evaluated. The pandemic has made the transformation urgent and brought forward challenges that will not retreat as pandemic risk diminishes. Learn how innovative organizations prepared to meet these challenges are already outperforming their peers.
- Challenge #1: Scale—providing individualized assistance to huge numbers of customers
- Challenge #2: Significance—making collection actions contribute greater value to the enterprise
- Challenge #3: Speed—being quicker to make big adaptions and small corrections
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