How can I reduce my organisation’s exposure to bad debt provisioning (IFRS9)
- Identify customers who are likely to resolve their debt digitally and target resources accordingly while reducing the cost of inappropriate engagements. Next, identify customers with a high propensity to pay and target them early in the collections cycle to recognise the revenue promptly.
- Further, identify customers who are likely to have forgotten to pay, remind them using the most appropriate timing and contact method and make it easy for them to resolve their outstanding arrears quickly.
- The Flexys Cognition solution can segment and direct customers to the best action cutting the delays caused by ineffective targeting. The Collaborate digital self-service solution can then be deployed to dramatically increase pre-30 day collection rates and avoid collectable debt causing provisioning issues related to IFRS9.
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