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Experian changes the way companies manage collections PDF Print E-mail
Wednesday, 19 April 2017
Getting debt collection right is about more than just going after the money. It’s about knowing the difference between a long-time customer who has simply forgotten to make a payment, a new customer who is behind on several payments and someone dealing with a financial hardship. When you know the difference, you can provide an individualized, convenient, customer-friendly experience. Experian® has combined its flagship decision management platform with its market-proven collections product <<TallymanTM>> to offer a cost-effective, compliant and customer-focused approach. PowerCurve® Collections will unlock the full potential of data and analytics, allowing companies to make decisions based on the needs and situations of individual customers.

“Every contact with a customer is an opportunity to strengthen the relationship, even when it comes to debt collection,” said Matthew Stewart, senior vice president, global software product management for Experian. “With PowerCurve Collections, companies can use data and analytics to drive decisions like how often to contact customers, the most effective way to reach them and the most effective times. In addition, customers can take a more active part in how they manage their debt, helping them meet their financial goals. The result is a more tailored and personalized approach, which is better for the customer and the business.”

PowerCurve Collections enhances customer information with data from a range of sources to create a complete and accurate view of an individual. Then it brings these insights together with analytics to inform precise actions that are proven to increase recoveries and deliver a better customer experience. The best action may be a high-touch outreach effort or one that’s more automated, connecting customers to a convenient, discreet self-service portal. Sometimes doing nothing is the right approach, and understanding which customers are most likely to pay on their own is critical to that decision. PowerCurve Collections has the operational capabilities to handle these actions easily. In the end, companies have a cost-effective, compliant collections process that focuses on customers and their satisfaction.

Key features of PowerCurve Collections include:

· A single user interface that allows companies to quickly design and deploy collections strategies and workflows in one place.
· Improved data access that addresses clients’ top pain point, how to bring in data from a wealth of sources to get a more complete view of customers.
· A digital, self-service portal that offers a convenient, discreet way for customers to manage accounts, interact with collectors and make payments.
· Analytic insights such as integrated scorecards, Champion/Challenger capabilities and simulations to fuel better collections decisions.
· Best-in-class decisioning with a proven strategy management and decisioning engine that determines effective and compliant collections actions.
· A way to automate routine operational activities and provide collectors with advisory support tools.
· Improved performance tracking with integrated reports and dashboards to ensure that the collections process is highly performing.

With the merging of Tallyman and PowerCurve®, the entire customer life cycle can be managed using the same platform. Through PowerCurve® Originations, clients can acquire profitable customers more efficiently. PowerCurve® Customer Management gives clients a complete view of their existing customers. And now, PowerCurve Collections lets clients manage an end-to-end debt management process.

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