Optimise Debt Collection with SAS

Optimising Debt Collection: Why now?

As one of the most highly leveraged regions in Europe, the UK is heading towards a debt crisis. The deluge of government-sponsored lending in response to Covid-19 will push borrowers to the brink.

COVID-19 has triggered unprecedented and unpredictable economic disruption, customer behaviours and risk profiles have changed dramatically, so many historical models used for customer segmentation are no longer as effective.

Customers whose financial profiles have historically been stable, but who have suffered a rapid and significant reduction in income due to lockdowns and business closures, could soon be entering the debt collections cycle.

Over the next few years, we’re likely to see collections teams come under significant strain as they attempt to triage this huge new wave of delinquent accounts. A balanced, customer-centric approach will be crucial to ensure creditors treat customers fairly while ensuring their own future resilience.

Customer-centricity is a way of doing business that fosters a positive customer experience at every stage of the customer journey, encouraging repeat business and creating greater customer loyalty in the process. Debt management is part of the customer journey and collections strategies must balance customer experience whilst preventing losses to preserve customer lifetime value.

SAS can help collection teams with better tools and better insights so they can make the right decisions faster and provide a more personalised level of service to each customer.

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“How and when you engage with your customers during the collections process can make a significant difference to your financial results. It will also have a major impact on your customers’ lives, and the tenure of your relationship with them.”

- Tiffany Carpenter, UKI Head of Customer Intelligence Solutions, SAS Institute