With market conditions changing, water suppliers may need to re-think their approach to bad debt forecasting.
P&L and cashflow shortfalls have become a material concern, as Rachel Littlewood outlines below.
Our debt team have been supporting water suppliers throughout the cost-of-living crisis, recently helping a retailer to improve their collections performance.
We recommended, designed, and delivered initiatives that led to a ~£5m cash uplift within five months of implementation.
This, and other areas of longer team value focus, included:
- Automation of Direct Debit adequacy, helping to increase cashflow by ensuring customer payments were reflecting usage more accurately
- Implementation of four new journeys for 'finalled' customers, integrated with the Debt Management System to drive bespoke campaigns
- Mapping of live segmented debt journeys, which helped to reduce debt from failed or cancelled DDs
Read more about how we helped here.
If you'd like to know more about techniques for enhancing customer support, contact Rachel Littlewood.
Rachel Littlewood
Director
Rachel leads our Financial Optimisation work streams, working with leaders to improve profitability & cashflow
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