Credit and collections professionals

The Art of Credit and Collections Risks management

• Introduction to Credit and Collections management

  The purpose of this website is twofold: firstly, to educate and empower managers and staff to independently execute credit risk and collections tasks, fostering a collaborative spirit within the organization. Secondly, it aims to equip readers with the knowledge and tools necessary for identifying and forecasting financial challenges, thereby effectively managing credit and collection risks associated with their clientele.

• Customer Acquisition management

  Customer Acquisition encompasses all processes related to attracting and signing up a new client – from the initial marketing exposure to the public, identifying potential customers, making the sale, signing an agreement, registering and integrating the customer’s details, to establishing a regular and ongoing relationship with the customer.

• Collections management

  To assure the proper execution of all tasks, the firm must define clear collections policy and procedures, implemented across all firm’s departments.

• The Collection process

  This section focuses on the two main collection processes: Collection from customers that are paying on time, and collection of arrears

• Collection management tools and methods

  The collection manager needs a robust set of methods to collect and adequate tools that will help him achieve the firm's goals.

• Collections contact centers

  Learn the differences between a collection contact center & collection department, with an emphasis on efficient collections. Find out more here.

• Legal collections

  These chapters deal with the management of legal proceedings and not with the legal proceedings themselves.

• Automation of the collection process and AI applications

  AI in debt collections refers to the use of advanced algorithms and machine learning techniques to improve the efficiency and effectiveness of the debt collection process.

• The Costs of Credit and Collections

  When talking about collection costs, the costs of the personnel directly handling the collection are usually considered, and sometimes, the overhead and administrative overhead expenses are added to them.

• Reporting and Monitoring

  The management of credit and collection risks requires the management of a set of monitoring and reporting reports that will enable the activity to be led efficiently and effectively and the right decisions to be made in real time at all administrative levels

• Resources