Veda Debt Recovery Score

An intelligent solution that saves time and money in the debt recovery process

Veda's Debt Recovery Score (DRS) is a statistical model that predicts the likelihood that a payment will be made on severely delinquent or written-off accounts within the next 12 months, enabling risk managers to develop collections strategies and resource efficiencies.

A lot of time can be dedicated to recovering debts that will never be repaid, taking time away from focusing on accounts more likely to pay.

Through the use of bureau profiles and debtor information, Veda DRS drastically improves the efficiency of collections by ranking accounts and prioritising small business and sole trader accounts that are more likely to repay. This allows creditors to focus debt recovery initiatives on more responsive customers.

 

Veda's internal analysis on a data sample of 120,000 late arrears accounts revealed:

• 76% of total amount recovered was from accounts with a debt recovery score in the top 40%.
• 5.5% of total amount recovered was from accounts scoring in the bottom 40%.

Due to its reliable and trusted high predictability rate, Veda's DRS is successfully utilised by small business debt recovery teams to prioritise resources and manage debt recovery expectations within organisations.