On 29th September 2016, CEO of Hito, Jamie Waller, attended the Local Authority Civil Enforcement Forum better known as LACEF. The LACEF event aims to bring together public sector collections, local authority in-house enforcement agents teams and UK government officers.
The event is a free private forum hosted on the Knowledge Hub platform for UK government officers. LACEF has almost 900 individual members from 240+ local authorities. The Knowledge Hub has more than 100,000 users.
Since 1997 LACEF has been supporting members with advice and shared experience in collections and debt recovery.
Jamie was selected as one of the speakers at the event and shined some light on the importance of propensity scoring and debtor profiling. Jamie outlined that,
“Propensity needs to be at the heart of everything the DCA does to be effective. Unfortunately, there are less than 4 systems globally that can handle this process.”
He continued on to explain,
“If you do acquire the technology to enable your collection operation to analys the debtor and your staff and then match them based upon the statistical likelihood for one to deal with the other in amore effective way the benefits are huge. For example imagine putting that Polish builder debtor through to your polish talking member of staff who was once a builder themselves. Wow.”
Some key takeaways from the presentation were:
- Match the right collector with the right debtor.
- Understand the debtors characteristics and what makes them “tick”
- You need to scale (200+ users)
- Implementing the right technology
If your technology can’t handle the level of intelligence, don’t do any modelling as you’ll create an unfair, bias solution to collections.
For a copy of the presentation or further information please get in touch info@hitoco.wpengine.com