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CAPABILITY


Credit Collection for Public Service

Optimize the tax collection strategy, and identify the right channel of contact for each payer.

Overview

In the Public Service industry, not all government organizations are receiving tax payments at an increasing rate. As a result, there is an intensified focus on credit collection to reduce the losses. When applying advanced analytics, government organizations can determine the most effective contact approach and channel for individual payers. The Credit Collection application for Public Service enables government organizations to make faster and more informed decisions on debt recovery strategies that could help them to maximize their expected returns. Providing each unique credit risk manager with analytics insights via easy to understand data visualizations, the application matches the best recovery channel with each payer, allowing risk managers to contact payers in the most effective way

SPECIFIC SERVICES

The Credit Collection application for Public Service allows credit risk managers to monitor the payment trends and provide input into the collections optimization strategy. Credit risk managers can also evaluate the level of risk associated to each individual tax payer through an advanced and effective visualization—the risk matrix—where customers are divided into risk categories based on the predictive models in combination with business rules and the value of the debt. Credit risk managers can use this evaluation to inform an optimization strategy.

For example, a customer who falls into the highest risk category by default will have a different and more proactive collection strategy than one who has lower risk. As a result of the optimization strategy, the application will suggest more direct actions for high risk customers, such as payroll collection or a formal letter mailed to the payer’s residence. For the less risky customers, an e-mail, phone call or an SMS would be the defined strategy.

The application also enables the phone call manager to assign an action on cases. Using the intuitive dashboard, the manager could evaluate the performances of the team members, and see how many collection items are waiting assignments. The application then allows the manager to drill down to the customer view to determine the right operator to deal with the debt collection, based on the customer profile.

Key features

  • Accurate segmentation and identification of potential at risk payers
  • Enhance decision making with a more analytical approach to Credit Collections
  • Holistic solution that covers the end-to-end process