accuracy at identifying payments
of costs saved while still collecting all the cash in the dataset
The solution removed costs from the operational process without missing any of the collections previously received.
For this collections call centre, there were more accounts to process than capacity available. However, many of the accounts contacted were not converting to collections – just 6% of accounts ended up paying as part of the campaign.
Emerge built an AI solution to predict at the beginning of each month which accounts were likely to pay on the back of collections interventions. The list was then rank ordered according to the collections score determined by the AI solution. The collections interventions were prioritised in this rank order. Initially all the accounts were called to assess the model’s accuracy.