Business Challenge:
Setting up collections analysis framework to enhance the collection process.
A leading telecom operator wanted us to analyze and setup the collections analysis framework to evaluate the effectiveness of its various initiatives.
Situation:
Falling collection rates and increasing collection costs.
The client was experiencing falling collection rates. At the same time, due to low visibility on the effectiveness and contribution of multiple collections channels (automated emails, call center outbound calls etc.), they were incurring huge costs in the collections process.
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Solution/Approach:
Collections analysis framework based on historic customer data.
We analyzed the historic customer data and developed a statistical model for profiling and segmenting customer based on the risk and probability of collections. We also analyzed the efficiency of various channels and integrated with the collections model. Based on these, we established a revised effort and capacity planning for the channels based on the analysis output.
Impact:
Improved collection rate and reduced overall cost of collections operations.
We developed a fact based framework for collections planning. The client was able utilize it to achieve better visibility on the collections probability and ensure better planning with less effort for collections. They were able to achieve improved collection rate and reduced overall cost of collections operations. They also achieved improved customer satisfaction with less repetitive reminders and calls.
