Case Study | Accelerating cash collection and reducing exposure to debt
| Sector | Mail Order |
|---|---|
| Products | HouseFile & TeleCollect |
| Application | Collections |
Grolier’s mail order business was based on an instalment payment model, where customers were paying very low monthly amounts over extended time periods. In some cases, customers still had two years outstanding to clear their debts. Without taking action to accelerate payment the company would have been faced with writing off £3million from an outstanding receivables base of £5.4 million when operations ceased.
John explains that “the value of recovered funds increased by 93% compared to previous approaches taken.” He continues “I’m a complete convert to segmentation and have adopted and rolled out Fraudscreen’s TeleCollect approach right across the remainder of our debt portfolio.”
