Cogent Collections

Debt recovery is undergoing a fast transformation with process automation and debt management software replacing the old school methods of the industry. Debt agents no more waste their time on performing mechanical, run-of-the-mill job of making spreadsheets and reports, finding the relevant accounts, exploring their potentials, and extracting their details. An agent’s day at work looks more like coming in, making strategies for calls, beginning the real work of calling debtors, making recoveries with immediate money transfer. Besides, there is infiltration of Artificial Intelligence and Data Analytics in this field, which puts a debt collection agency’s huge accumulated data to use, turning hopes into achievable realities. Doing this, through the implementation of a predictive modelling approach and machine learning. The whole functionality of the industry is remodelling itself, adapting to technologically intelligent methods. Here are three innovations that every organ