According to the Association of Latin American Banks, innovation in technology has allowed debt recovery rates to increase in financial institutions, by an average of 20%.
For any company, regardless of its line of business and/or size, it is very important to keep its #portfolio healthy, in order to ensure a profitable business. This is why early recovery of the portfolio through timely management with clients is vital; But given the volume of transactions that #companies have today, it is necessary to use technology to optimize said process.
The #technology used in business portfolio recovery refers to the use of specialized #software for monitoring and managing outstanding accounts, which helps the company automate and improve the collection process.
By applying tools and mechanisms that efficiently support users, variables can be determined in the #collection score, which become useful for making segmentations based on the payment behavior of customers, and combined with the use of #artificialintelligence. In powerful software, it allows companies to achieve automation and benefit in the recovery of their portfolios.
Some of the benefits of using technology in portfolio recovery:
• Track accounts in real time
• Greater control of delinquent accounts
• Better feedback with customers and suppliers
• Increases productivity by avoiding repetitive manual tasks
• Reduction of errors in information capture processes
• Increase in information security
For these and many more reasons, it is time to give way to digital innovation in the area of #CreditandCollections. It is important for companies to take the appropriate time to select the technological software that allows them to increase the collection of their bad debts, benefit the interaction with their clients and suppliers in a simple, but above all safe environment, and that contains the use of cutting-edge technology such as artificial intelligence ( #AI ).