BCW Group plc Use EuroDirect's CAMEO to optimise debt recovery
Leading credit management and outsourcing services
provider BCW Group plc have chosen consumer intelligence
specialists EuroDirect to develop an innovative debt recovery model
that will deliver previously unachievable performance
improvements.
BCW Group has started using EuroDirect's CAMEO Analysis & Stats
postcode indicators in an innovative behavioural profiling model
which targets debtor cases on the margins between so called 'can't
pay' and 'won't pay' market segments. It expects to see incremental
performance improvements on all portfolios of debt it operates on
over the next twelve months, by prescribing variable collections
processes to different debt profiles depending on the collections
industry's key 'propensity to pay' metric.
The debt collection industry is increasingly facing challenges
associated with high customer movement - due to long-term social
trends such as the growth in single-occupancy dwelling arrangements
- and rising levels of personal household debt.
One aspect of BCW Group's new profiling model will use 'historical
electoral roll' data and 'residential movement' indicators from
CAMEO Stats, to implement predictive modelling techniques to
identify debtors with a high propensity to move and make them
primary targets.
Steve Preston, Head of Strategy at BCW Group plc comments:
"The utilisation of this type of consumer intelligence in our
business has been hugely advantageous for us and sets us apart from
the traditional credit management organisations that have
traditionally relied on a 'one size fits all' approach. The upshot
is better association of collection process to case-type, and early
tests have shown extremely promising results."
John Dobson, Managing Director, EuroDirect comments:
"BCW Group plc have been highly proactive using consumer
intelligence in this way to improve performance for its clients.
This new process will inevitably produce highly efficient targeting
campaigns which will not only improve debtor tracking, but will
also improve debt recovery rates. This can only further improve
their reputation as an innovative and effective service
provider."
BCW Group have spent the past five years breaking down the image of
debt collection companies as dinosaurs with its fresh approach to
customer-focused recovery processes and ground-breaking
partnerships with private and public-sector organisations across
the UK, Europe and North America.
It has developed a slew of new approaches, winning accolades from
industry observers and media organisations alike. In 2002, a BBC
documentary gave an eye-opening account of BCW Group's approach to
collecting council tax, dismissing the traditional 'straight to
court' philosophy as out of date and under-performing. It has since
raised council tax debt collection by as much as 10% in parts of
the UK.