Midpoint Resolution Group Raises the Profit Bar with LexisNexis® Collection Solutions
公司规模
11-200
地区
- America
国家
- United States
产品
- LexisNexis Accurint for Collections
- Acxiom Insight
- LexisNexis RecoverScore
技术栈
- Advanced Link Analysis Technology
实施规模
- Enterprise-wide Deployment
影响指标
- Customer Satisfaction
- Productivity Improvements
- Revenue Growth
技术
- 分析与建模 - 预测分析
- 应用基础设施与中间件 - 数据交换与集成
适用行业
- 金融与保险
适用功能
- 商业运营
用例
- 补货预测
服务
- 数据科学服务
- 系统集成
关于客户
Midpoint Resolution Group, based in Buffalo, NY, provides a full range of collections services including pre-collection, skip-tracing, contingency recoveries, commercial collections, letter series, bankruptcy and probate services and litigation and arbitration services. In early 2007, Midpoint set a goal of increasing revenue and expanding its client base. The company expected to benefit from the growth in demand for collections services stemming from the dramatic increase in consumer, corporate and government debt. Midpoint is a growth-oriented company that continuously seeks ways to improve its collections efforts and increase efficiencies. By leveraging advanced tools and technologies, Midpoint aims to stay ahead in the competitive collections industry and deliver superior results for its clients.
挑战
While the collections industry continues to grow due to the increase in debt, that growth has spurred greater competition and produced debt-savvy consumers who are adept at subverting collections efforts. These trends combine to drive down margins, increase operating expenses and lower contingency fees, thereby making it essential for agencies to work smarter and more decisively to locate debtors and recover delinquent debt. As Midpoint reviewed the market, and its prospects for growth, it knew that success hinged on identifying and employing the right research and skiptracing tools. Midpoint already subscribed to a pair of competitive solutions to aid its skip-tracing work and identify Right Party Contacts (RPCs), including LexisNexis® Accurint® for Collections. Accurint for Collections provides collections agencies with comprehensive data on people, businesses and assets. The solution aggregates data from thousands of sources and features advanced link analysis technology to deliver the answers collections agencies need to locate debtors and shorten the collection cycle. Over the years Midpoint had fallen into the habit of minimizing usage of Accurint for Collections in favor of Acxiom® Insight. In early 2007, they decided to test the two systems to determine which solution was the right tool to stimulate and support growth.
解决方案
Midpoint generated a large placement file and split it in half with equal parts going to Accurint for Collections and Acxiom Insight. Midpoint collected on these files for three months and then created a report detailing how each solution performed in terms of the number of RPCs generated, the rate of payment and the gross dollar figure collected. The results of the test were striking. From a pool of 3,548 debtors, Accurint for Collections produced 397 RPCs—Acxiom Insight produced only 144 RPCs from its pool of 3,553 debtors. These numbers translate into an RPC rate of 11.19 percent for Accurint for Collections, compared to a rate of 4.05 percent for the Acxiom Insight. Overall, Accurint for Collections generated 176 percent more RPCs than Acxiom Insight. In addition, Midpoint evaluated the two systems on their ability to produce contact information for relatives of debtors. Contacting relatives is often a powerful way of finding delinquent debtors. The results of the test showed that Accurint for Collections was able to return contact information for debtor relatives on 66 percent of its contacts. Acxiom Insight was able to return relative contact information on fewer than 31 percent of its contacts. As a result of this test Midpoint selected Accurint for Collections as its preferred research tool for skip-tracing and the identification of RPCs.
运营影响
数量效益
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