Debt collection is evolving, and expectations from business customers are changing. Regulators calling for a more nuanced approach to commercial debt recovery.
In utilities, Ofwat's 2024 Price Review (PR24) will introduce a new metric for business customer experience, while Ofgem has reassessed treatment of non-domestic customers.
The Lending Standards Board now requires lenders to implement systems capable of identifying and supporting businesses facing financial difficulties or vulnerable circumstances. They must demonstrate a consistent, sympathetic, and positive approach to their corporate customers.
As organisations adapt their strategies, what insights can the business sector glean from practices in consumer collections?
During this session, our expert panel will discuss:
How collecting from businesses is changing, and why
The increasing importance of customer experience in business collections
Effective strategies for providing a positive business customer experience