WeDo, the Portuguese assurance vendors, have announced the launch of CollectionsBroker 8.0, the latest version of their credit and collections solution. The new version includes predictive credit scoring algorithms, designed to continuously analyze customer behavior and evaluate the customer’s credit risk. Other processes covered include real-time credit control monitoring, collections management, negotiation of flexible payment plans, and management of debt packages for use with external collection agencies.
Years ago I wrote about the 4 C’s of transaction processing – capture, conveyance, calculation and collection – for our revenue assurance book. The purpose was to present a complete and logical model for performing transaction assurance in any telco. The fourth C focused on receiving payment from customers. Assurance practitioners sometimes have a bias towards situations where they have data, and so can implement controls by reconciling that data. However, you can do all the reconciliations you like, but your business will fail if it does not ultimately collect the payments due from customers. I am heartened that vendors are recognizing the importance of the fourth C, and are applying data analytical techniques to calculating the risk of non-payment, and devising strategies that encourage payment when customers fall behind with bills. WeDo’s credit and collections solution is an important component of their holistic approach to enterprise business assurance.
The press release announcing the launch of CollectionsBroker 8.0 can be found here.