No single vendor in the market has all the right data needed when considering the complexity that comes into play from adding different verticals, asset classes, and age of debt into the mix. This is why we believe and have seen first-hand, with our collective experience that spans more than two decades, that buying more data is better than buying less.
The importance of buying data from multiple vendors is clear, but this can get tricky. What is the best way to organize all of this data, and how is it best used and segmented? This is where we come into play with a comprehensive data enrichment strategy or a waterfall strategy.
Our flagship product, RevealDataWorks, is the first solution of its kind in data services management. We are proud to work with most leading data vendors to deliver a unique solution that streamlines the process of using data from multiple vendors.
TEC Services Group can simplify transactions between third-party vendors using a platform-agnostic hosted waterfall system, maximizing the usage of your data to the fullest.
This strategy increases operational efficiency and intelligent data purchasing strategies resulting in improved right-party contact rates, decreased work effort, and insight into data vendor performance.
The automated process works seamlessly and efficiently, allowing staff to focus on what’s most important—collecting money—without having to manually organize data from all vendors.
Automated waterfall strategies can be customized to fit different asset classes and portfolios with varying margins to ensure every account gets the most effective treatment and accurate data. These tailored strategies can be altered and enhanced with almost zero IT effort on agencies.
Some of the benefits of this process include the analytical ability to predict which consumers will most likely resume paying after missing installments and who will be more likely to default, a significant reduction in the cost of trying to contact the right consumer, and automatic segmentation of accounts based on a consumers’ history.
The point is this: we keep a strong pulse on the industry. We test data and evaluate vendors every day. We know what works. We know what doesn’t. So, after assessing a business and understanding its needs, we can efficiently deliver a data strategy ideally suited to each environment that will produce measurable results.