In 1962, Sam Walton began to see a dream come to fruition by opening his first Wal-Mart discount store. The concept was a store that provided “the lowest price any time anywhere” coupled eventually with a “one stop shop”. The shop quickly turned into shops and then exploded all across the US and parts of the world.
It was the beginning of one of the most successful store chains birthed in America. Even though Wal-Mart wasn’t the first store to ever open its doors, it grabbed hold of tremendous market share by differentiating itself with an underlying theme of the place to go if you want the lowest price.
Differentiation was key for Wal-Mart’s success and, like Wal-Mart, collections organizations have a similar priority in a commoditized industry. In order to win and then maintain business, a collection entity must be able to provide understood benefits to its clients that set themselves apart from their competitors.
UltimateAnalytics™ not only was created with the intent of making an organization’s job more effective through its vast toolbox of tools, but also to include ways to positively distinguish that organization to prospective clients in the market.
Enhanced Visibility and Insights
Scheduled reports that automatically arrive in a client’s email help clients to know the constant status of what is going on with their accounts. The professional, easy-to-read reports, can be scheduled for when they want them. Seeing this information can help clients to both make informed business decisions and understand how to improve the paper they provide as well as understand what returns they can expect.
Sophisticated Process and Technology
UltimateAnalytics™ returns a robust dataset back to your system that can then be put to work through a process that is both automated and predictable. This dataset includes location services, risk mitigation data, message codes, presumptive charity indicators, and a series of scoring models that vary in both complexity and purpose.
Faster Return on Investment
Not all accounts are created equal. Knowing which accounts should be worked to maximize returns and profits is exactly what the UltimateAnalytics™ account profiling is designed to do. By placing the right focus on the right accounts from the beginning, you can help ensure that your clients are getting returns on the most collectable accounts at a faster rate.
Greater Compliance and Security
UltimateAnalytics™ scrubs everything on a system so that dollars and resources aren’t wasted on accounts that are bankrupt, deceased, litigious, fraudulent or otherwise problematic. This helps to mitigate potential lawsuits while also automating the flow of that information to ensure more consistency of process and that minimum standards are being met.
UltimateAnalytics™ can be a powerful differentiator in the market for acquiring new business. It provides a richer dataset, a comprehensive process for treating your business, while also providing a window into your daily operations filled with valuable insights. Just as Wal-Mart differentiated itself to get ahead of the competition, collection organizations can also look to develop their own brands in becoming the “place to go if you want the best deal”.