Commercial Credit & Collections Professionals (within corporations and at 3rd party collections agencies) face one of the most challenging collections environments in a generation. With the economy in a recession and with many banks unable or unwilling to provide debt financing, companies are being forced to rely more and more on their vendors to finance their working capital. As a result, both collections departments and agencies are facing rapidly increasing volumes of delinquent accounts. Lurking inside those increasingly delinquent portfolios are tomorrow’s dead beats and bankrupt companies. However many of those accounts are just temporarily slowing their payments in an effort to get back on their feet. How is a collections or credit professional to tell the difference? How can a collections department maximize performance against key objectives such as Days Sales Outstanding (DSO) in such a challenging environment?

With this tough environment in mind, we are pleased to announce the launch of Cortera’s Collections Priority Rating – CPR℠ to help you prioritize your collections efforts. These days it is essential for businesses to focus their collections activities on their increasing challenging customer portfolios. Cortera Collections Priority Rating – CPR is designed to assist collections departments do just that.

Cortera CPR assists collections departments of all sizes in evaluating customer portfolios for signs of delinquency, highlights changes in payment behavior and provides indications of internal and external events that could impact future payment behavior. Cortera CPR also provides a unique segmentation feature that groups accounts based on overall payment risk. This can assist customers in prioritizing, assigning and ultimately the treatment of past due accounts.

Like all Cortera products, Cortera CPR is offered in a variety of flexible delivery methods:

• Online via our DIG web portal in report form for individual company analysis at $2.00 (discounts are available for data contributors)
• Batch via our BOOST product for rapid analysis and segmentation of all or part of your customer portfolio at $0.60 per account scored (discounts are available for data contributors)
• Web Service via our CONNECT XML for access to all Cortera CPR data elements and easy integration to your existing accounting and collections software.

If you are interested in learning more please call 877-LOWR-DSO (877-569-7376) or complete a short form for a free trial.

Posted in Batch, Collecting, Collections, Company, Economy, Scoring
Permalink: http://blog.cortera.com/2009/01/26/collecting-in-tough-times-cortera-collections-priority-rating-cpr-can-help/

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