Customer Success Story
Enhancing Recoveries For A City Revenue Department Via Collectx
The Challenge
- Limited Phone Numbers: The revenue department faced the issue of limited phone numbers available for contact, hindering the collections process.
- Account Specifics (Nuisance Liens and Fire & Rescue Accounts): Managing nuisance liens and fire & rescue accounts required a nuanced approach due to their unique nature and potential impact on the property and its owners.
- Property-Linked Liens: Liens were linked to the property, not the property owner, making it essential to navigate the process of setting up payments for new property owners or renters.
The Solution
- Implementation of CollectX: TSI introduced CollectX, a powerful data analytics platform, to optimize the collections process. CollectX was utilized to identify the most liquid accounts and tailor collections activity accordingly.
- Enhanced Skip Tracing Strategies: TSI improved skip tracing strategies to locate alternate phone numbers and contact information, compensating for the limited phone numbers initially provided..
- Focused Recoveries on Specific Account Types: The account recopvery approach was adapted to target nuisance liens and fire & rescue accounts, employing a customized strategy to address the nuances of each account type effectively.
The Results
Improved Liquidation Rate: Utilizing TSI’s proprietary data analytics platform, CollectX, the client’s 12-month liquidation rate witnessed a remarkable increase of 102.0%, further validating the effectiveness of the data-driven strategies implemented. To visually represent this improvement, the liquidation graphic below illustrates the transformation from the pre-CollectX phase to the post-CollectX phase.
Conclusion
CollectX’s intervention facilitated a more efficient collections process, leading to enhanced revenue recovery and a streamlined approach to managing nuisance liens and fire & rescue accounts. This case study emphasizes the potential of leveraging advanced data analytics platforms like CollectX in the public sector to achieve substantial improvements in debt collection and liquidation rates.
Customer Experience/Care Management
Inbound & Outbound Voice
CX & Care Programs
Back-Office Functions
Performance Analytics
Flexible Global Staffing
Business Process Outsourcing
Data Input
Document Processing
Verfication & Validation
Exception Processing
QA Monitoring & Reporting
Business Analytics & Modeling
First Party ARM
1st Party Collections
Pre-Charge Off Program Support
Inbound & Outbound
Early Stage / Care Based
Brand Protection
IT Adaptability / Flexibility
third Party Debt Collection
Post Charge-Off
Primary & Secondary
Late-Stage Recovery
Innovative Technology & Approach
Propensity to Pay Analytics
