From our own experience we have identified that if successful transformation of the debt management process is going to happen, the fundamentals need to be put in place.

This means starting with the customer journey.

Creditors need to understand each and every customer touchpoint. They need to understand customer data, their preferences and expectations, their likelihood of repaying.

Creditors also need to make sure they identify potential vulnerabilities in their customer base, and provide easy access to relevant information, support and educational materials to help customers throughout their journey. Provision of clear and accessible opportunities to repay at each stage of the journey is critical to delivering fair outcomes.

At Sopra Steria we have designed a Debt Management process which takes into account an organisation’s need for timely collections, and a debtor’s requirements to be treated fairly at each stage of the lifecycle.

Our model can be implemented or tested at any stage and contains 5 distinct parts:

We use data and analytics to help you to identify risk profiles throughout the debtor relationship, enabling you to tailor your intervention approaches for different debtor groups.
Our teams work with you to understand where digital transformation can help improve debt management processes, and enable you to access commercial models to resolve debt earlier in the lifecycle.
Working together to make sure your debt management processes are aligned to industry standards and that automated processes are in place to maximise recovery before delinquency status is reached.
Through either our in-house Debt Collection Service or our fully managed service provision, we can help you put in place tailored repayment programmes through digital channels, while providing debtors with educational materials and support channels.
By working with FCA-authorised industry experts, we can help you to offer final opportunities to pay, providing debtors with services designed to meet their diverse needs, making repayments easier.
Our business model is focused on using data to better understand debtors’ situations, offering tailored repayment plans, and minimising late-stage debt recovery wherever possible. Our ethical principles define everything we do, including our work to better serve vulnerable individuals.

By working with Sopra Steria to create the right Debt Management approach, collections departments can unlock a number of benefits 

  • Tailored intervention approaches for different customer groups
  • More accurate predictions of who is likely to default
  • Improved MI and reporting for management teams
  • Identification of cost saving opportunities in the debt management value chain
  • Customers get the right educational literature and support channels throughout the debt management cycle
  • Maximised recovery using automated processes prior to delinquency status
  • A solid understanding of who can't pay vs who won’t pay, using data and analytics
  • Customers are treated fairly and with respect, and vulnerable people are provided with extra support

We are proud to offer services in the following sectors where significant debt collection challenges are being faced

Energy and Utilities
Sopra Steria has been awarded a place on the Debt Resolution Services framework
Financial Services

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