How do I manage risk?
Answer
You need to determine and set boundaries! Debtpack makes use of business logic to evaluate key performance areas (KPA) within the collections process. Some of these KPA’s are:
- Cost to capital ratio – Am I spending more to collect this account in comparison with the capital handed over?
- Prioritization of accounts based on business criteria – Giving each account a HIGH, MEDIUM or LOW priority, the business defines what should be focused on.
- Protocol compliance – Accounts cannot be written off until it has fully complied with the prescribed protocol.