Customer Debt

Customer debt is tricky to manage. A careful, but effective approach is needed to mitigate the risks of revenue loss, reputational damage, and regulatory action. Debt isn’t a new problem, but its impact is severely heightened in today’s climate, with the cost of living crisis forcing more and more customers into financial difficulty.

For suppliers, this is creating the perfect storm. Rising debt levels are detracting from bottom-line performance, while collections teams and processes are being stretched like never before, lacking the capabilities needed to take control of this extreme situation. Although there’s good reason to be concerned, it’s important to remember that you’re not powerless. A balance between cash collection and customer support is achievable, with the right direction on where and how to act.

At BFY, we can help you to enhance your approach to managing debt, building a high performing, risk-focussed collections process. Our expertise in this area is powerful and unique, leveraging industry insight and benchmarking data to realise transformational improvements.

We can help with:

• Diagnosing the root causes of your customer debt challenges
• Benchmarking your performance against industry best practice
• Identifying debt drivers and recognising opportunities through debt book analysis
• Optimising campaigns and collections through tactical action
• Enhancing your debt strategy with automation, systems, and specialist treatments
• Extracting value from uncollected debt by advising on a debt sale