Credit & Collection Practices

This report delivers the results of research on credit and collection practices and technologies. This is the third annual study of collection practices conducted by the Ascent Group.

Credit & Collection practices were benchmarked to uncover the most effective techniques and strategies for improving collection performance and reducing uncollectibles. Customer service organizations across the U.S. were researched to provide a thorough overview of best practices in credit and collections.

In this report, methods in which companies are balancing the cost of collection to reduce uncollectibles and improve the bottom line are explored. The technologies that have retooled credit and collection processes for maximum effectiveness and efficiency are also examined. Finally, a look at how companies have established credit policies to support collection efforts is offered.

Participants are profiled in a case study format, sharing current practices, lessons learned, challenges overcome, plans for the future, and business practices that have led to improved performance. In addition, detailed results and analysis from the survey itself and detail "best practices" demonstrated by our participants are provided. Finally, the successes achieved are explored.