Collections teams have encountered unprecedented levels of change over the last few years having to adapt to pressures driven from COVID, increasing regulatory scrutiny and the affordability crisis. Companies have spent millions to be compliant and to put the customer first.
Now is the time to take a step back and re-evaluate your collections strategy and roadmap.
- How well have your collections operations responded?
- How do you compare to industry best practice?
- Are you evidencing good customer outcomes?
- Are solutions rapidly put in place now fit for purpose?
- How do you embrace emerging collection technology and AI?
Arum’s Excellence Assessment will help to answer these questions and more as we evaluate every aspect of your collections operating model and infrastructure. We can also perform ‘deep dives’ in each capability area, tailoring the review to fit your needs.
We help:
- Identify where your debt collection process can be enhanced
- Analyse your collections technology stack, identifying capability gaps and opportunities to embrace emerging technology and AI
- Benchmark your collections strategy and capabilities including use of predictive analytics, segmentation, contact channels and use of third parties
- Validate how your contact strategy and capabilities support delivery of good customer outcomes and support vulnerable customers
- Use best practice to identify opportunities to improve cost to serve through improved productivity, automation and controls whilst remaining compliant
- Evaluate your data architecture to ensure you are measuring the right metrics to achieve desired outcomes
Discuss your needs with our team