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4 Data Best Practices for a Timeless Digital Customer Experience

Fico Collections

Many financial institutions are trying to create a “360 degree view” of their customer to determine the best experience for them. I am on a personal quest to simplify this concept so complex businesses can achieve this view and create effective digital experiences with it. Use Digital Interaction Data to Inform Customer Decisions.

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Industries with the Best and Worst Recovery Rates

Nexa Collect

It is recommended to assign accounts for collections roughly when they are between 60-90 days past due for a maximum recovery rate. Based on clients we came across last year (2021), here is the average recovery rate we have seen, along with our collection agency partner(s). This is purely our own experience. Manufacturing.

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How Would a Recall of Goods Affect Your Debt Collection Claim?

FFGN COLLECT NY

Typically, after issuing a recall of a product over a safety issue, manufacturers provide issue instructions on how to arrange for pickup of the unsafe product and any processes for issuing either a refund or replacement product. Manufacturers often retain a compliance company specializing in the disposal of recalled goods.

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Billing Processes: Which Option is Best for Your Business?

PDC Flow

Collect on Delivery The collect on delivery (or cash on delivery) model refers to collecting payment from customers as soon as work is completed or products or services are delivered. Guarantees payment will be made, as this model encourages merchants to collect payment data upfront.

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1 in 6 invoices being paid late according to survey

UK debt collections

‘Tide’ commissioned YouGov to survey small business decision makers, including sole traders, to discover their payment terms, how often they experience late payments, and the actual duration before invoices were settled. A lucky third (33%) never experience late payments. Manufacturing. IT & telecoms.

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Debt Collection Settlements: Can Parties Include Terms for Future Deals

FFGN COLLECT NY

An issue that comes up time and time again in debt collection settlements is whether parties can continue doing business together even though the creditor has placed the account for collection. Now that a debt collection attorney is involved, can the parties move forward and conduct new business?

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How a Debt Collection Agency Can Help Your Cash Flow

Credit Management Company

Insufficient cash flow is a financial problem that all companies experience at one time or another. Everything from waste and inefficiency to poor sales and conversions can cause this problem, but the failure of clients or customers to pay what they owe is a unique issue with a clear and effective solution: professional debt collection.