Analytic Answers for Prioritized Collections

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Improve debt collection

IBM Analytic Answers for Prioritized Collections is a cloud-based advanced analytics application that helps organizations improve their debt collection. You simply upload data on individual outstanding debts and receive information about the likelihood of payment, along with recommendations for the collection treatment most likely to succeed. No analytics expertise or software license is required.

Analytic Answers provides predictive information and recommendations for the debt collection treatment most likely to succeed.
You follow three basic steps to get your answers, and IBM does the rest.
Analytic Answers identifies factors that affect collectability of debts.
The benefits of Analytic Answers for Prioritized Collections can include increased collections and reduced collection costs.

Predictive information and recommendations

For each debt, Analytic Answers for Prioritized Collections provides predictive insight in the form of the probability it will be collected and the amount likely to be collected.
Analytic Answers for Prioritized Collections recommends the best way to pursue collecting each debt.
Analytic Answers for Prioritized Collections bases the answers it provides on models built from historical collection data.

Three basic steps to insight

Step 1: In an initial engagement, you provide historical data to IBM’s experienced analytic specialists who then use that data to build and customize predictive models and analytical processes.
Step 2: After initial setup is complete, you upload your latest data to the web. Analytic Answers then scores that data based on your models.
Step 3: You download the answers and apply these insights and recommendations to debt collection processes and resources.
You can repeat Steps 2 and 3 as often as you like, even daily.

Identification of factors that affect collectability

Analytic Answers for Prioritized Collections uses advanced analytics technology to identify multiple factors about the debt, the debtor and the products or services that are associated with significantly high or low collectability.
You can use this information to understand the drivers of bad debt.
As well as helping you improve the efficiency of your collections operation, these insights give clues to how your organization or agency might avoid many of these debts occurring in future.

Benefits of Analytic Answers for Prioritized Collections

You can use the results from Analytic Answers to focus on the debts that can generate the most revenue and address them in the right way to maximize the likelihood of collection. For example, a text message reminder might help you collect one particular debt while going straight to legal action might be better for another.
The information in your answers can be used to help increase collections and reduce collection costs. With more precise collection treatment, you can make more efficient use of your collections resources.
You can make informed decisions about which debts should be written off or passed on to external agencies.
You can learn from your answers and recommendations in ways that can help you change your business operations to reduce the incidence of bad debt.

Analytic Answers for Prioritized Collections resources

White Paper: Analytics: The widening divide
See how companies that apply analytics are gaining more ground on competitors. Read the study by the IBM Institute for Business Value and MIT Sloan Management Review.

Data Sheet: IBM Analytic Answers for Insurance Renewals
This cloud-based solution enables small and midsize insurers to identify policyholders unlikely to renew and recommends how to keep them.

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