Transforming the collections process for utilities providers

Collections is unappealing for collections agents and for customers. DirectID spoke to some of the leading companies in the field about key problems.
Published on
November 16, 2021
Author
Category
Finance & Fintech

Collections and recoveries

With a myriad of external forces that have left household incomes squeezed, the likelihood of delinquency is at an all-time high, so utilities providers need to work smarter to mange their bad debt.

A cumbersome, expensive process

Debts can be notoriously trying to bring in, involve considerable amounts of manpower and are taxing in time and effort. With a process that is ripe with inefficiencies, it's costly and time-consuming both for the provider and customer. For the debtor, the collections process is notoriously cumbersome, as well as being potentially embarrassing. The need to forensically examine a customer’s bank statement information, income and expenses
mean the process is more akin to a probing exam, than a transaction of funds.

At DirectID, we became aware of the problems within the current setup when we spoke to some of the leading companies in the field.

Find out more about our solutions for Collections and Recoveries.

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