Collections aren't working: What now?

The Affordability Crisis continues to pose significant challenges in Utilities. Supporting vulnerable customers is key, while collecting cash remains fundamental to suppliers and their bottom-line performance. So, how can this be managed fairly and effectively?

In our free guide, Collections aren’t working – What now?, we propose short-term actions and long-term solutions, supported by insight on implementation and the outcomes you can expect in return.

What's included in the guide?

Firstly, we focus on actions to develop your predelinquency strategy, such as:

• Customer risk-profiling
• Monitoring exposure to risk
• Communicating effectively

By pre-empting customer issues, you can avoid accumulating more debt and the challenges that come with it. Good communication also helps to allay concerns around affordability, contributing to greater customer satisfaction in the long-term.

After discussing predelinquency, we explore tactical changes to help you improve internal collections performance, and extract greater value from your debt book.

This includes:

• Developing your collections process
• Consideration of a debt sale

​We’ve also considered the risks attached to these options, drawing on over ten years of practical debt management experience. Protecting your reputation is central to this, especially when dealing with third parties who may hold different values to your own.

To access the full guide, click here.

Looking for more insight on customer debt?

‘Collections aren’t working – What now?’ is the first in a three-part series, exploring the best practice approach for debt management in the current crisis and beyond. Look out for our upcoming titles over the coming months:

• How to deliver the best possible value from your debt book
• Are you prepared for the debt challenges of tomorrow?

​If you would like to find out more about managing customer debt, and how we can support you, contact Rachel Littlewood, Tom Bromwich, or Ian Barker.