Experian delivers industry-leading debt management programme for Anglian Water
(PRWEB UK) 31 July 2013 -- Experian has helped Anglian Water deliver a new personalised collections strategy which has resulted in improved collections and billing with a significant reduction in consumer debt over the first 12 months of the programme. In addition to helping customers who often pay for the cost of bad debt through increased bills, the new strategy has helped to safeguard vulnerable customers.
To significantly improve its debt collection, Anglian Water employed Experian's Portfolio Management Package (PMP) and debt management software system Tallyman, to develop an automated collections and customer management process.
Experian's suite of products has enabled Anglian Water to segment its customers accordingly and make personalised and appropriate decisions based on its customers' individual circumstances.
Within the first 12 months of adopting Experian's offering, the utility provider reduced its customer debt by £545,000, helping to reverse the industry trend of increasing debt books of outstanding revenue from domestic water customers. Through the intelligent use of customer insight and automated collections technology, Anglian Water saw a two-fold increase in efficiency as well as an improvement in overall customer data accuracy.
Martyn Oakley, customer services director for Anglian Water, said: "At Anglian Water, we are committed to reducing the level of bad debt, as ultimately it is our customers who pay for cost of bad debt through bills. We also recognise the importance of closely managing debt recovery activity to safeguard and protect the most vulnerable and effectively chase those who can and should pay. We are proud to be the industry leader for customer satisfaction, and believe that great customer service and leading debt collection can go hand in hand. Experian’s technology and information continues to help us make informed decisions based on an individual customer’s circumstances and develop effective payment plans which are fair and appropriate."
Terry Franklin, senior business consultant for Experian Decision Analytics, said: "It is increasingly important for utility companies to respond to the needs of those who are struggling financially whilst addressing the imperative need to collect outstanding payments. By employing an integrated approach to debt collection and customer management using Experian's Tallyman and PMP debt management software, and continually driving improvements to exceed sector leading practice through regular benchmark reviews and deployment of an effective strategic road map and business plan, Anglian Water has shown that it can both satisfy customer expectations and meet stretching performance objectives."
About Experian:
Experian is the leading global information services company, providing a payment gateway, and data and analytical tools to clients around the world. The Group helps businesses with fraud investigation managing credit risk, target marketing offers and business analytics. Experian also assists individuals with credit card protection.
Chantal Heckford, Experian, http://www.experian.co.uk, 020 7490 8828, [email protected]
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