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Collections benchmarking and best practice

Collections benchmarking and best practice
"Our proprietary methodology has a proven track record of improving the debt collection process, operations, technology, and strategy, leading to better debt outcomes, improved productivity and reduced costs"
Nick Walsh, Principal Consultant

HOW CAN WE HELP YOU?

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

Register for a free workshop and bespoke report

Discuss your needs with our team

WHAT BENEFITS WILL YOU SEE?

Our review will provide both a benchmark assessment of your capabilities vs industry best practice, as well as a prioritised roadmap of recommendations (short, medium, and long term), to deliver improved customer and business outcomes.

By implementing our recommendations (which you can do yourself or we can support you!), our clients see:

  • Better debt outcomes
  • Improved portfolio performance
  • Better productivity and reduced operational cost
  • Better operational scalability and resilience
  • Enhanced data management, reporting and decision-making
  • Improved compliance with regulations and auditing
  • Improved visibility, governance and control

Register for a free workshop and bespoke report

Discuss your needs with our team


COLLECTIONS BENCHMARKING AND BEST PRACTICE IN ACTION

Case Study

General needs portfolio review - identifying £1.5m revenue per annum

Case Study

Uplift in payments following new collections strategy and processes

Case Study

6-month transformation plan to improve government collections operation

Case Study

Increase in payments and reduced costs following collections process improvements

Case Study

Multimillion-pound benefits for retail bank

Case Study

New customer services vision for energy supplier

Case Study

Operational improvement for global bank

Case Study

Best in class operation for utility company

Case Study

Mortgage operation for start-up bank

Total
Accenture
Department for Work & Pensions DWP
HSBC
AIC
Anglian Water
Aktiv Kapital
Business Stream
Butterfield
Bank Zachodni
Car Finance Company
Clydesdale Bank
Deutsche Bank
GE Money
Hoist Finance
Intelligent Finance
ING
International Personal Finance
KBC
Money Barn
Motonovo
New Day
Pepper
Raiffeisen
RBS
Tesco Bank
TSB
Westpac
Yorkshire Bank
ESB
Eon
Scottish Power
SSE
Thames Water
UISCE (Irish Water)
HMCTS
L&Q
Revenue Ireland
SLC
Cabot
JBW
Marstons
Walker Love
Wescot
Capgemini
CGI
Concentrix
Experian
FICO
Qualco
Barnsley Council
Newham Council
London Borough of Redbridge
YuEnergy
SES Water
NatWest
Exus
Aldermore
Atom Bank
C&R Software
Adobe
Berneslai Homes
Britannia
British Gas
Capquest
Centrica
Cognizant
Daimler
Debt Managers
Deloitte
Drydens Fairfax
Hito
HP
IBM
Katabat
Liberata
Pega
Standard Life
StepChange
Telrock (Optimus by)

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