How can improving your portfolio management benefit your debt collection?
Posted: Mon Dec 23, 2024 6:48 am
How are your company's collection indicators going? It is important that you have an adequate management of your client portfolio in order to obtain liquidity for your organization. Knowing your indicators is just one of the many practices that you should adopt to improve the management of your portfolio. In this post we tell you more about it and give you some advice.
What will you find in this text?
Customer portfolio, what is it?
Why is proper portfolio management important in debt collection?
Tips to improve the management of your portfolio of delinquent clients
Start by using collection indicators
Define your collection policies
Automate your organization's debt collection management
Keep your portfolio informed
It segments, but also provides personalized treatment
Customer portfolio, what is it?
Let's start by defining what your collection client portfolio is . Your buy usa email list is understood as the group of clients that have a debt with your organization.
Collection management is important because it allows for the recovery of the portfolio, and consequently, the company has the liquidity it needs to continue operating.
Despite the efforts of debt collection agents to recover the portfolio, different situations and even excuses arise under which debtors delay payment of their obligations. When this happens, it is important that as part of proper portfolio management we have the resources to segment it (for example, into “ hard-to-collect portfolio ” and “ bad debt portfolio ”) in order to apply personalized collection strategies in each segment that help us obtain payment of the debt.
Why is proper debt collection portfolio management important?
If we design an adequate client portfolio management, we can reduce the risk of non-payment. This, in turn, will allow us to have early payments instead of late payments, which favors the profitability of our organization; it also allows us to optimize our company's resources.
Tips to improve the management of your portfolio of delinquent clients
Now that you know what a customer portfolio is and why it is important, we offer you some tips that will help you improve your portfolio management.
1. Start by using collection indicators
As we mentioned initially, having collection indicators is a way of improving the management of our portfolio, but why? Because by having well-defined KPIs we can measure and control them. Thus, if we notice errors in collection management, we can make adjustments to our strategy.
2. Define your collection policies
Another tip that will help you with debt recovery , from the early stages, is to have clearly defined collection policies . By having clear policies, you have standardized processes that allow you to speed up debt collection and reduce the risk of conflicts with delinquent customers.
What will you find in this text?
Customer portfolio, what is it?
Why is proper portfolio management important in debt collection?
Tips to improve the management of your portfolio of delinquent clients
Start by using collection indicators
Define your collection policies
Automate your organization's debt collection management
Keep your portfolio informed
It segments, but also provides personalized treatment
Customer portfolio, what is it?
Let's start by defining what your collection client portfolio is . Your buy usa email list is understood as the group of clients that have a debt with your organization.
Collection management is important because it allows for the recovery of the portfolio, and consequently, the company has the liquidity it needs to continue operating.
Despite the efforts of debt collection agents to recover the portfolio, different situations and even excuses arise under which debtors delay payment of their obligations. When this happens, it is important that as part of proper portfolio management we have the resources to segment it (for example, into “ hard-to-collect portfolio ” and “ bad debt portfolio ”) in order to apply personalized collection strategies in each segment that help us obtain payment of the debt.
Why is proper debt collection portfolio management important?
If we design an adequate client portfolio management, we can reduce the risk of non-payment. This, in turn, will allow us to have early payments instead of late payments, which favors the profitability of our organization; it also allows us to optimize our company's resources.
Tips to improve the management of your portfolio of delinquent clients
Now that you know what a customer portfolio is and why it is important, we offer you some tips that will help you improve your portfolio management.
1. Start by using collection indicators
As we mentioned initially, having collection indicators is a way of improving the management of our portfolio, but why? Because by having well-defined KPIs we can measure and control them. Thus, if we notice errors in collection management, we can make adjustments to our strategy.
2. Define your collection policies
Another tip that will help you with debt recovery , from the early stages, is to have clearly defined collection policies . By having clear policies, you have standardized processes that allow you to speed up debt collection and reduce the risk of conflicts with delinquent customers.