Talgentra Integrates Business Intelligence into Collections System

Talgentra today announced that a suite of Business Intelligence (BI) tools has been incorporated into Tallyman, its Customer Revenue Management and Collections system which is used by utilities, telcos and financial organisations to manage customers in arrears.

Talgentra has worked with Business Objects, the world’s leading provider of BI solutions, to develop a Management Information (MI) module that is now an integral component of its Tallyman collections system. The MI module provides collections departments with the ability to easily evaluate and analyse data from both Tallyman and a variety of other systems and sources such as the CRM or billing system – and then use this information to identify and implement new strategies to improve collections rates, reduce costs and retain customers.

A key concept of BI is the ability to take information from a wide variety of data sources within the enterprise and combine it with external data to identify new insights which can be used to improve the performance of the business.

Applying these principles to the collections process can deliver significant value. For example, Tallyman could  be used to analyse how changes in risk profiling at the customer acquisition stage, combined with official government economic trends impacts on the levels of delinquency and write-offs when customers enter the collections process.
Chris Buckham, Director of Marketing, at Talgentra, said: “The performance of any collections system should be built on a cycle of continuous improvement, driven by objective analysis of all information, not just from the collections system, but including relevant data held in other systems across the enterprise. Tallyman’s new MI module enables our customers to quickly identify areas of concern and optimise the existing strategies in order to improve performance.”

There are six areas where the MI module will make a real difference within the collections department:

• Interactive reporting – On-screen reports giving a complete overview of the current situation of the collections department can now be easily generated with graphical summaries allowing drill down to investigate areas of concern.
• Real time performance management – access to real time information in an on-screen dashboard format to assess current performance and tactics of the collections team and adapt accordingly. For example, this could show when inbound calls are taking a long time to process, so resources can be moved from the outbound team to ensure that every call is answered. Also every collection agent can monitor their own real time performance against a key daily KPI which is permanently displayed on the Tallyman user screen.
• Evaluation of new collections strategies – Champion/Challenger is a key tool in the repertoire of the Collections Manager, allowing new strategies to be tested and, where improvements are achieved, rolling out these strategies across appropriate segments of the debt portfolio. MI allows constant monitoring of the progress of the challenger strategy, providing the ability to end non-performing challenges early and fast track successful challenges.
• Trend analytics – MI means managers can quickly review the trend line for a range of Key Performance Indicators, such as cash collected and identify where early management intervention may be required.
• Strategic business views – the ability to access data in other systems such as the initial application credit score or pre-delinquent behaviour monitored within other management systems can have a major impact on the richness of the data used for collections segmentation and trend analysis.
• Strategy simulation and prediction – MI can help predict outcomes of strategies and help answer a wide range of “what if” questions, ensuring that new strategies have a high probability of success before they are deployed.

For more information about Business Intelligence and Tallyman’s MI module please visit
www.talgentra.com/whitepapers  and www.talgentra.com/tallymanmi