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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