10 steps to a data-driven collections strategy: See what you should be doing to put a data-driven recovery strategy into place for optimal operational success.
Using primitive collection strategies can keep your business from functioning at its full potential. A collections strategy that uses sophisticated recovery scoring, however, enables maximum efficiency throughout the entire recovery cycle.
Approximately 10% of organizations don’t have a collection strategy in place that uses analytics. This is likely because their inventory is low and they do not need one to approach their work. The remaining 90% use one of the following four levels of analytics in their debt collection strategies:
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