Working with central government and local authorities
Public Sector clients most frequently choose:
- Advisory services - consultancy projects to identify long-term improvement programmes and strategy recommendations, and to identify the value of assets through a variety of execution methods such as sale or external collections
- A fully outsourced debt recovery solution for both flow and aged debt portfolios
- PLATO - the award winning debt placement and management platform
Key themes for the sector
- Wider economic challenges have resulted in cuts across the Public Sector and significant budget deficits.
- This is continuing to drive cost reduction activity and is restricting the ability to invest in revenue maximising collections activity.
- Aged debt portfolios have been identified as an opportunity to release previously unrealised value but in order to do this, effective cleansing of data and robust, compliant execution is required.
- Strategic decision-making about these portfolios is difficult as their value is unknown to creditors at both the portfolio and granular level.
We have worked with both central government and local authorities to deliver increased effectiveness and improved efficiency in collections and recoveries and we appreciate some of the unique sensitivities and challenges of reducing the amount of money owed to the government by citizens and businesses. Legacy processes and old technologies can hamper progress and in a climate of austerity the potential gains are crucial to maintaining services.
Over the last few years the private sector has become very sophisticated in the way that it recovers debt. TDX is integral to many of these organisations and provide a platform on which this process can be managed. This can bring significant recovery uplift, as well as improved internal efficiencies, and at the same time address concerns around regulatory compliance and fairness to customers.
Our industry-leading platform is self-funding and brings a host of benefits including providing a single view of all debts owed by a citizen, analytical segmentation and enforcement performance management. Together these can provide an increase in collection rates in excess of 20%.
With the ability to meet all areas of public sector requirements from early collections, through the legal process, to enforcement, we can offer a full range of engagement models from full outsourcing to 'problem specific' solutions.