The Data Analytics Blog

Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.

Perry de Jager

Perry de Jager

Perry has been involved in Collections and Recoveries for the past 22 years, spending time in different market segments ranging from law firms to investment companies. At Principa, Perry has worked on extended projects within both South Africa and the Middle East with some of the largest financial organisation, providing on-site consulting within the collections and recoveries space covering strategy, process, people and technology.

Recent Posts:

PART 2: How to Cure the Post Pandemic “Collections” Symptoms

In PART 1 of this two-part series, we explored how the current socio-economic climate resulting from the lingering financial hangover caused by the pandemic is negatively impacting the consumer's ability to settle a debt.

PART 1: How to Cure the Post Pandemic “Collections” Symptoms

It has been a year and a half since the first case of the coronavirus (COVID-19) was reported from Wuhan, China. As we move into the third wave of the virus, there is an apparent dilution in both collection and recovery yields in the financial services sector, primarily because relief schemes and packages come to an end.

Collections Technology in the aftermath of a pandemic (Part 2)

In part 1 of this 2 part series, we looked at the available tools in working accounts optimally as well as tools available in connecting and engaging with the customer.

Collections Technology in the aftermath of a pandemic (Part 1)

We all know the importance of technology within the call centre … or do we?

The Top Collections Blogs for 2020

 

Collections Resilience post COVID-19 - part 2

Principa Decisions (Pty) L

Collections Resilience post COVID-19

Principa Decisions (Pty) L

How to choose the correct collections chatbot

Principa has a wealth of experience in building and deploying chatbots for the financial services industry. Our custom-built solution is flexible and fully customisable which allows your bot to assume your brand’s persona. We can also seamlessly integrate with existing systems. Find out more. 

Main requirements when considering a Collections System (Part 2)

Principa specialises in providing data driven solutions that will optimise your business' collections strategy, improve your recovery yields, and increase your business revenue. 

The 5 Key requirements of a collections system from a user perspective

We are starting off with a two part blog series looking at the main requirements when considering a Collections System.

Collections Analytics: The Why and How

As most of you may know by now, we are currently busy with a series of Q&A videos, so please feel free to send us your credit lifecycle related questions, or any questions relating to our products or services.

How does the Principa e-learning solution differ from conventional e-learning platforms?

After my previous video on my learnings working with self-service solutions, Peter Mackintosh sent us a question.

My learnings on the effective use of automated self-service bots.

Organisations and individuals, need to adapt and change to the new ways of working to ensure that we survive this pandemic, and protect our sustainability for the future.

COVID 19, mitigating this risk for business continuity and social responsibility

In 2011, Microsoft founder, Bill Gates, reflected on the many strides researchers have made in terms of treating diseases such as HIV, malaria and polio. Gates warned us, “There is one area, though, where the world isn’t making much progress, and that’s pandemic preparedness. This should concern us all because if history has taught us anything, it’s that there will be another deadly global pandemic”.

Introducing CollectSuite: Your Comprehensive Collections Execution Suite

We introduce our CollectSuite, aimed at providing organizations with a comprehensive collections execution suite.

The Top 4 Advantages That Your Collections System Should Be Giving You In 2020

The current credit environment can be characterised as one of intense competition for customers, with organisations often taking additional risk to grow credit portfolios. Consumers are becoming increasingly aware of their “value” and changing their expectations of how an organisation should treat them.   

AI And The South African Workforce: A Balancing Act

Recently, South Africa was faced with the threat of the biggest banking strike in our country’s history, driven by the job cuts as a result of increasing automation.

Frequently Asked Questions On CollectSmart

What is CollectSmart? CollectSmart is a powerful, modular, enterprise-wide debt collection management system that combines business controlled segmentation with the allocation of appropriate and differentiated actions to individual customer profiles - all accessed via an easy-to-use web interface.

The Top 6 Ways To Improve Motivation Levels In A Call Centre

Staff motivation levels are an important factor in every business, but even more so in a client or prospect facing environment such as a call centre. If your call centre agents are motivated, you can expect them to remain an employee for a longer period of time, reducing staff turnover. This not only saves you a lot of resources for recruiting, but also for training.

Frequently Asked Questions On Self-Service AI Chatbot, Atura

What is Atura? Atura is a powerful artificial intelligence chat solution that uses cloud technology to deliver the right answers to your customers via any device, albeit mobile, desktop or tablet. Built on the Microsoft Azure technology stack, Atura uses its advanced algorithms and machine learning techniques to correctly understand your customer request and then deliver the correct response. In the event that the AI doesn’t understand the customer request, the entire messaging conversation can be seamlessly redirected to a physical agent to further respond to your customer. The result: a fluent and seamless customer experience!

Frequently Asked Questions On Agent X, Call Centre Virtual Assistant

What is Agent X? Agent X is a call centre virtual assistant that not only guides and supports agents during calls, but motivates and inspires high performance via an engaging, dynamic and intuitive interface.

5 Ways To Improve Collections In 2020

We are approaching a time of the year when planning for 2020 takes centre stage. As such it is important to look back and asses the channels that have been used across contact centres and determine their effectiveness. At the same time, it is important to look ahead at the trends and customer behaviour which can help lead to better customer interactions and satisfaction.

What Is DebiCheck And How Will My Company Be Impacted?

South Africa is currently the only country that has implemented an Early Debit Order (EDO) collection system. Our EDO system consists of both the AEDO (Authenticated Early Debit Order) and NAEDO (Non Authenticated Early Debit Order) payment streams and has been in use since 2006 to create a fair playing field for both businesses and consumers.

[Slideshare] How To Improve Your Call Centre Agent Performance

How To Improve Your Call Centre Agent Performance from PrincipaDecisions

What We Learned At The 7th Annual CEM Africa Summit

When we initially committed to being sponsors and exhibitors at the CEM Africa Summit, our team was very excited. Not only would we have a space on the floor that would give us the opportunity to meet and connect with attendees, but we’d also have the chance of exploring the sessions at this prestigious summit ourselves.

The Transformation Of Training Methodology With Data Science

Learning rarely stops after your formal education ends, whether you’re pursuing further learning out of personal interest, career-aspiration or it’s mandated by your company. Most companies offer funding and support for their employees to go on courses to keep their skills up to date or learn new skills. Companies spend millions every year on enabling employees to participate in physical, often off-site training, and the costs can cover training fees, training material, travel and accommodation.

[Slideshare] Pro-Actively Correct Call Centre Operational Problems

How To Identify And Pro-Actively Correct Operational Problems In Your Call Centre from PrincipaDecisions

Meet Agent X – Your Call Centre Virtual Assistant

 Meet Vusi, a call centre agent, with call centre agent struggles. He needs to keep his customers engaged while he shifts between various systems to find the information he needs to meet his manager’s expectations of consistent, successful call outcomes.

How To Take Pro-Active Measure Using Call Centre Yield Predictions

For collection operations and risk alignment, a critical success factor is the ability to predict month-end results accurately and at an early stage of the billing cycle.

Taking Advantage Of Disruption In The Debt Collection Industry

As Debt Collection and Recovery experts, we are given the opportunity to attend and present at industry conferences and events. We find the conferences incredibly valuable in helping us stay up to date, as well as challenging us to remain innovative.

Stay On Top Of Industry Trends With MFSA's Contact Sessions

As a debt collection professional, there’s no doubt that you occasionally feel like you are out in the trenches. The nature of the industry is ever changing, as are the laws and regulations. And you need to stay on top of new technology and trends.

Redefine How Your Call Centre Agents Absorb Information

An average customer’s attention span is less than that of a goldfish, according to the National Center for Biotechnology Information. While a goldfish can focus its attention for 9 seconds, in 2015 customers were found to lose interest after only 8, down from 12 seconds in 2000. (Click to Tweet!) The reduced attention span, makes the initial impression all the more critical, especially in a call centre environment.

How Machine Learning Can Improve Your Debt Collection Process

Machine learning, for all its cool applications, is at its core the generation of predictive models using advanced algorithms that learn from data. If we have enough reliable and stable data to feed it, we can build models and make predictions on just about anything. If you are new to machine learning, read more on What is Machine Learning?

Working Wonders In The Age Of Data

We chat to Principa's Chief Executive Officer, Jaco Rossouw, about the thrilling new world of data and how businesses can work wonders with data-driven insights.

The Three Big Impact Debt Collection Tools To Implement In 2018

Any tool that can optimise your collections strategy and improve efficiencies in your operation, is sure to make an impact on your collected yields. In our years helping collections operations to optimise and improve their collection strategies, we’ve found that data-driven debt collection tools offer the optimal solution to optimise and improve your recovery yields and increase your business revenue.

Implement Collection Strategy Best Practice With Debtor Segmentation

We have written a lot on ways to optimise your collection, but the simplest and most effective way is still to segment your debtors based on propensity to pay. Debtor segmentation is a best practice that every serious collections operation needs to utilise.

How Coaching Bots Can Increase Your Debt Collection Call Centre Yields

Machine learning and advanced data analytic techniques are often used in combination with behavioural sciences to develop coaching bots. Virtual assistant for call centre agents is a collections solution that guide and support agents through calls in real-time, offers them easy access to information and motivates and inspires high performance. This can translate directly to increased collection yields.

What Is A Pro-Active Debt Collection Approach?

The management of debtors and account payments is often a laborious and reactive process that includes following up with debtors who are in default and don’t want to talk to you. Implementing a debt collections approach that is pro-active, could improve efficiencies and result in reduced amount of accounts rolling into delinquency.

Our Top Blogs On Collection And Recovery Solutions For 2017

As we mentioned in our previous posts where we compiled lists of our top 2017 blogs, we are switching it up this year. Instead of compiling our usual list of Top 10 blog posts on data analytics, we are instead giving you a shorter, but more focused top blogs selection– and not just one, but five of them! Our data suggested that our most popular blogs were very clearly grouped in broad categories, and we’ve decided to give you the best Principa blogs of 2017, by topic.

Right-Party-Connect Rates In 2018

When looking at the collections cascade and it’s diminishing returns, we always emphasis the responsibility factor relating to each metrics. Whom is responsible for these areas, and how do we monitor the accuracy of these metric results?

Your Debtor Is Still Your Customer - Focus On Customer Experience

I recently attended the First Party Summit – a Collections summit in the USA - which was an exciting conference focusing on the unique challenges of Collections, Outsourcing, and Customer Care. Over the 3-day period I learned quite a lot from the presentations and round table discussions covering topics from innovative communication strategies to the role of human and artificial intelligence in collections. Throughout the conference, I noticed the following two points were consistent through all aspects of the discussions: Personalisation and the Customer Experience are on the rise in debt collection. In this blog post, I’ll explain why.

Hostage Negotiation Tips And Techniques For Effective Debt Collection

Negotiation is a common activity in our daily lives. It’s human nature to try to influence others to achieve a better or advantageous outcome for ourselves. It’s ultimately an exchange of value. And if done well, it can leave both sides feeling like they’ve won. In my practice area of Collections & Recovery Solutions, negotiation is a critical tactic used in every engagement with a debtor. In fact, it’s so critical and core to the success of a Collections organisation that it merits a discussion with the ultimate negotiator to see if there are tips and techniques that can be learned and applied in Collections.

How To Build A Data-Driven Collections Strategy

In our previous blog post we looked at data analytics in collections and the expected change in performance. Strategically, data analytics drives operational execution, but the question remains: where do we start? In this blog post, I outline the 3 steps to building your own data-driven collections strategy.

How Does Data Analytics Help Debt Collection?

Credit lenders use data analytics to assess potential clients and determine affordability. However, many credit lenders and debt collection companies fail to apply the same practice when dealing with defaulting clients. In my first blog post, I'll cover the important role that data analytics can play in collections operations and solutions. 

How Mobile And Social Data Are Changing The Face Of Credit Scoring

In emerging or developing markets where formal credit history collection infrastructure or credit bureaus are lacking, the majority of people without reference data would struggle to achieve anything resembling an impressive credit score. As a large contingent of previously unbanked individuals join their respective middle classes in increasing numbers worldwide, lenders are finding creative ways of profiling and welcoming newcomers to the world of financial services.

How To Cure A Debt Recovery Hangover From Holiday Spending

Traditionally, the first quarter of any calendar year sees a dilution of both collection and recovery yields given the overspend that occurs over the December holiday season. Therefore, optimal strategies and operational execution are key to mitigating the effects of the first quarter ‘hangover’.

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