Collections

As the costs of finding new customers rise, retaining the ones you already have makes good business sense. But with today’s high levels of consumer debt, it’s becoming harder to find and keep quality customers.

Added to this is the frustration of chasing payments from customers with out-of-date contact details. To help you through this process, Veda’s debt-management services can step in to guide you. These services include:

  • Collections: chasing customers with overdue payment.
  • Recovery: helping you recover more quickly when overdue payments are written off as bad debt
  • Debt sale: advising you when to sell the debt, rather than attempt recovery.

Benefits to you

Veda can help you to:

  • Identify high-risk customers and lower your exposure to bad debtors
  • Improve your cash flow
  • Lower the cost of managing overdue accounts
  • Improve the customer experience for your valuable low-risk customers
  • Skip tracing services to find customers.
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Effectively manage overdue accounts

Prioritise collections activity by segmenting customers based on risk

Individuals

Collector Insight

Account Management Service

Debt Recovery Alerts

Adjust collections strategies based on new information

Individuals

Collector Insight

Debt Recovery Score

  Business

Debtor IQ
 
Reduce bad debt
Implement collection strategies based on customer risk

Individuals

Collector Insight

Account Management Service

  Businesses

Debtor IQ
 
Find lost debtors
Update phone and address details

Individuals

Collector Insight

Veda eTrace

Maximise yield/price on debt sale Determine which customers are the best candidates for debt sale

Individuals

Collector Insight

Account Management Service

Debt Recovery Score

Accelerate debt sale on accounts that are experiencing issues with other credit providers

Individuals

Debt Recovery Alerts