We have worked with three of the top six water companies in the UK
Water clients most frequently choose:
- Advisory services - bespoke consultancy projects to benchmark performance and capabilities to support continuous improvement programmes or regulatory submissions such as AMP or IDoK
- A fully outsourced debt recovery solution
- PLATO - the award winning debt placement and management platform
- Debt Sale - an end to end debt sale solution to support organisations entering the sale market
- HeliX - our unique data exchange for consumers in arrears
Key themes for the sector
- Preparations for AMP 6 will be a key feature of the year.
- There is a growing desire to accurately benchmark performance and operational capabilities against peers as part of the upcoming regulatory submissions.
- The requirement to forecast future default rates under different stress scenarios presents its own challenges.
- Limited use of debt sale and latter stage placement strategies is resulting in a growing warehouse portfolio and debt sale is emerging as a solution with a small number of both final (terminated) and active portfolios being taken to market.
- The industry is starting to engage the credit bureaux to share default data and many companies are looking for other ways to share data, for example Water UK's landlord portal.
- Inability to disconnect increases the importance of effective utilisation of third party collections activity.
Having completed consultancy projects for three of the top six water companies and with over £315 million of water debt across our platforms we have a unique view of both internal and external collections performance across the sector. This gives us unparalleled insight into the specific challenges faced across the sector and the strategies that have been successfully deployed to resolve these.
We help address water-specific challenges such as rehabilitating live debtors back into the internal process and identifying and extracting unrealised value from large warehouse portfolios. As part of our typical engagement, we provide a continuous improvement programme, using the data we receive from clients, best practice and the data collected as part of our general operation. This approach has identified opportunities for our water clients to deliver over £10 million per year of incremental collections for our clients.