Part Two | The Lifecycle of a Debtor; Collections
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Synopsis
Knowing what collections intervention really works when people don’t pay
In this paper, the second in a series of three looking at three three stages of consumer debt, Helen McNab of ScorePlus provides thought-provoking discussion and actionable advice for consumer businesses looking to protect revenues this financial year by improving their approach to collections.
Drawing on experience in telecoms, retail and financial services, Helen discusses:
- Moving to a marketing-style campaigns programme
- Enhancing collections analytics with additional data and simplifying the segmentation
- Understanding true cause and effect
- Applying a two-speed measurement approach
- Being totally objective in the use of test and learn
- Keeping senior management engaged and on-board
Building on this. Peter Taylor, Credit & Collections Director at Fraudscreen, details the key activities to put into place this week, this quarter and this year for positive bottom-line impacts within twelve months.
About the authors
An industry specialist with over 20 years experience, Helen has worked as an independent consultant developing and advising on lending and collections strategies for numerous clients, including HBoS, JD Williams and Orange. ScorePlus provides consultancy and training services to the credit industry.
For more information on ScorePlus, please visit www.scoreplus.com
Peter joined Fraudscreen in 2007, following an extensive career in credit and collections. Roles have included Head of Banking Credit Operations for HBoS, 17 years with Barclays, latterly with full responsibility for over 3m credit card and loan accounts. More »
Who should read this paper?
The series is suitable for collections and recoveries specialists looking for ways to increase the wider understanding, and strategic importance, of their roles within their companies. People outside the discipline will also find it useful in demonstrating how they can work effectively and proactively with their colleagues in these areas to deliver significant and vital bottom-line results for their businesses in the toughest of economic climates.
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