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Five Ways to Improve Your Collections and Recovery Rates

As today’s collection environment becomes more complex, the need is arising for integrated solutions in order to improve collection and recovery rates

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An integrated collections and recovery system must apply automation and predictive analytics to help address business challenges and add value to an organization—value that can be identified and measured at all phases of collections and recovery operations in terms of higher collections and recovery rates and direct increases in the organization’s bottom-line income. The following five guidelines rely on the integration of collections and recovery systems, networked communications and analytics to improve collections and recovery results.