Collections Optimization & Skip Tracing

With large amounts of revenue lost each year through customers defaulting on their payment commitments, corporations are looking for solutions that can assist in recouping revenue effectively and efficiently. 

Nt helps organisations to identify which collection and litigation procedures are most likely to be effective in dealing with customers who default on their payments.  Furthermore, it assists organisations to trace debtors who have 'gone away' or 'skipped' on their obligations.

The solution incorporates neural predictive analytics, behavioural modelling, configurable rules and adaptive thresholds to monitor each individual customer, account and activity profile within the business environment.  This combination of techniques offers a thorough understanding of customer behaviour and likely outcomes, enabling corporations to approach their revenue recovery in a strategic manner.  

Streamlining collections procedures

Collections personnel are faced with a variety of strategies they can apply in an attempt to recover revenue from outstanding accounts.  Minotaur™ makes the job easier by grouping and prioritizing the accounts to be investigated and optimising the order of tools to be used in approaching each account.  Automating the approval of all treatment programs and settlements provides collectors with real-time decisions.  Furthermore, it substantially reduces manual decisioning, allowing manpower to be utilised in other areas of the collections process.  The solution also identifies those accounts where payment is unlikely to be forthcoming, saving time and effort spent in fruitless pursuit of unresponsive debtors.

Skip Tracing - Locate debtors quickly and efficiently

Debtor locating can be a time consuming task with associated cost implications.  A disconnected phone, an invoice returned in the mail and payment overdue by more than 30 days are pretty good indicators that a debtor has "skipped" out on his/her obligation to pay for services.  The solution makes it quicker and easier to find delinquent debtors through the successful selection of the correct processes, treatment programs and tools, as well as identifying the most cost and time effective means of validating contact details (e.g. phone numbers) for people and businesses.  It evaluates the many external tools, databases and services aimed at locating debtors and prioritizes them to recover outstanding revenue in the shortest and most cost-effective way.

Download Minotaur™ Trace brochure for more information.