Automating Debt Collection with Paydit
The following goals were set:
- Maximize debt recovery and reduce bad debt;
- Reduce the time spent on collections;
- Cut the cost of collection procedures;
- Always remain compliant with regulations;
- Improve consumers’ experience.
- The U.S. market, global debt management and recovery
- Web Application
- In the first three months of deploying Paydit, more than 2,300 payments were made for a total of ~$800,000 of the debt collected through our debt negotiation platform.
- Round-the-clock service availability and a non-threatening approach allowed collectors to improve the experience of their customers.
- Paydit allowed 27% of debts to be settled faster than with the traditional collection approach.
Overall, in less than two years, the client managed to scale up the monthly volume of collected debts by ~150%, which resulted in ~$11 million of the total recovered debt.
- Fast debt settlement
- Built-in compliance
- Automated service
- Decreased labor cost
- Real-time reporting
- Choice of payment options
- Stress-free communication
- Convenient debt negotiation
- Trusted payment gateways
- 24/7 service availability